The month of December was a strong one for home sales in the Greater Toronto Area, and it capped off a solid year of sales.
There were 4, 945 homes sold last month, which was the second-highest on record for a December, which brought the calendar-year total to 101, 299.
That represents a 9.2% increase over the total for 2014.
Average home prices also rose, from $566, 624 in 2014 to $622, 217 last year.
When you break the numbers down even further 37, 326 homes were sold in Toronto in 2015, with an average price of $659, 270.
“Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term. If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand.” – Toronto Real Estate Board President Mark McLean