This site uses cookies.

The types of cookies we use, and the way we use them, are explained in our Privacy Policy. By clicking "Accept" or continuing to use our site, you agree to our use of Cookies.
More information


Masoud Behbahani
Sales Representative

Kingsway Real Estate
Brokerage

151 City Centre Dr. #300, Mississauga, ON L5B 1M7

Phone: 905-268-1000  Mobile: 416-579-1860  Fax: 905-277-0020

Strong Growth in Home Sales in March

April 6, 2016 - Updated: April 6, 2016

Strong Growth in Home Sales in March

April 5, 2016 -- Toronto Real Estate Board President Mark McLean announced record TREB MLS® home sales for the first quarter of 2016 following a strong result for March transactions. There were 10,326 sales in March and 22,575 sales in the first quarter. The year-over-year growth rate for sales was 15.8 per cent for Q1 2016 and 16.2 per cent for March 2016. For the TREB market area as a whole, double-digit year-over-year rates of sales growth were experienced for all major home types during the first quarter.

The positive annual growth in sales was not mirrored on the listings front. The number of new listings entered into TREB's MLS® System during March and the first quarter were down compared to the same periods in 2015.

"At the beginning of 2016, TREB's outlook for the year pointed to a strong possibility of a second consecutive record year for home sales. This outlook was based, in part, on upbeat consumer survey results pointing to robust home buying intentions. It is clear that these upbeat intentions have translated into record first quarter results," said Mr. McLean.

The MLS® Home Price Index Composite Benchmark for March 2016 was up by 11.6 per cent compared to March 2015. The average selling price for all home types combined was up 12.1 per cent year-over-year in March and 13.6 per cent in the first quarter.

"Demand was clearly not an issue in the first three months of 2016, regardless of the housing market segment being considered. The supply of listings, however, continued to aggravate many would-be home buyers. We could have experienced even stronger sales growth were it not for the constrained supply of listings, especially in the low-rise market segments. The resulting strong competition between buyers has underpinned the double-digit rates of price growth experienced so far this year," said Jason Mercer, TREB's Director of Market Analysis.

Click here to see Full Report [pdf]

 

Sell Your Home For Just $999* Listing Commission*

Please do not hesitate to contact me at any time  for mor detail if you have any question and Leave a comment and share your opinion below

Masoud Behbahani

416-579-1860

*2.5% Commission is paid to the co-operating broker
*Not intended to solicit properties already under contract

 


Tagged with: home sales behbahan first time homebuyer iranian real estate agent latest real estate news lowest real estate ommission marketwatch mississauga condo mississauga condos mississauga condos for sale mississauga homes north york condo north york condos for sale mls north york homes north york homes for sale north york real estate renovation richmond hill condos richmond hill condos for sale richmond hill homes richmond hill homes for sale toronto condo toronto condos toronto condos for sale toronto homes ultima ultima condos yonge and finch condos yonge and sheppard
| | Share

Powered by Lone Wolf Real Estate Technologies (CMS6)