The Toronto Real Estate Board announced 4,672 home transactions through TREB’s MLS System in January 2016. This result represented an 8.2% increase compared to January 2015.
The MLS Home Price Index Composite Benchmark Price for January 2015 was up by 11.2% on a year-over-year basis. The average selling price over the same period was $631,092, up 14.1% compared to $552,925 in 2015. Average days on the market was 29 in January 2016, 2 days less than January of last year.
Market conditions in January were tighter compared to a year earlier, with an annual increase in sales up against a decline in listings. This is why growth in the MLS HPI benchmarks continued to be strong, especially for singles, semis and townhouses, where there has been a persistent lack of inventory.
(Source: Toronto Real Estate Board)