GTA Had Record-Breaking Home Sales In 2015
A strong regional economy and low borrowing costs propelled the GTA to 4,945 home sales last month. It was the second-best December ever (if only Santa had tried a little harder), bringing 2015’s calendar-year total to a record 101,299 sales—a 9.2% increase over 2014 as a whole. "If the market had benefited from more listings, the 2015 sales total would have been greater,” Toronto Real Estate Board president Mark McLean noted. “As it stands, we begin 2016 with a substantial amount of pent-up demand.” Average selling price across all housing types for 2015 was $622k, up 9.8% from 2014 (it was $1.03M for detached homes, up 11.8%).