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Market Watch 2016: A Year in Review

January 21, 2017 by DWani

Record Sales in 2016

January 5, 2017 — Toronto Real Estate Board President Larry Cerqua announced that 2016 was a second consecutive record year for home sales. Greater Toronto Area REALTORS® reported 113,133 home sales through TREB’s MLS® System – up by 11.8 per cent compared to 2015. The calendar year 2016 result included 5,338 sales in December – an annual increase of 8.6 per cent.

The strongest annual rate of sales growth in 2016 was experienced for condominium apartments followed by detached homes.

“A relatively strong regional economy, low unemployment and very low borrowing costs kept the demand for ownership housing strong in the GTA, as the region’s population continued to grow in 2016,” said Mr. Cerqua.

The annual rate of growth for the MLS® Home Price Index (HPI) in the TREB market area accelerated throughout 2016 – from 10.7 per cent in January 2016 to 21 per cent in December 2016. The overall average selling price for calendar year 2016 was $729,922 – up 17.3 per cent compared to 2015. The pace of the annual rate of growth for the average selling price also picked up throughout the year, including a climb of 20 per cent in December.

“Price growth accelerated throughout 2016 as the supply of listings remained very constrained. Active listings at the end of December were at their lowest point in a decade-and-a-half. Total new listings for 2016 were down by almost four per cent. In 2016, we saw policy changes and policy debates pointed at the demand side of the market. If we want to see a sustained moderation in the pace of price growth, what we really need is more policy focus on issues impacting the lack of homes available for sale,” said Jason Mercer, TREB’s Director of Market Analysis.

Filed Under: Market Watch, My Blog

Diane M. Wani

Sales Representative
Accredited Senior Agent (ASA)
Sutton Group Old Mill Realty, Inc., Brokerage
Independently Owned and Operated

4237 Dundas Street West,
Toronto, Ontario M8X 1Y3

Office: 416-234-2424
Cell: 416-458-5982
Email me at: [email protected] [Read More …]

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We just want to thank Diane Wani for all of her efforts involved in the selling of our Toronto home. She’s hardworking, available when we needed her, technologically savvy and one of the most pleasant and friendly agents we’ve ever had dealings with. She offered good advice on everything from fixing up and staging our home to open houses to pricing strategy to target marketing. We were very pleased with the reliable and dependable service and results obtained and would highly recommend Diane …
Laura and Robert DoiMarkham
I recently used Diane to buy a house in another city. She was very accommodating, knowledgeable and helpful. She took the time to honestly review the merits and demerits of each house we saw and facilitated the process to choice the house we’d make an offer on. Her assistance in crafting the offer to be the best offer enabled us to get our choice house without rounds of negotiations. I will definitely use Diane for my next real estate adventure.
M. TomsToronto
Her former working experience in corporate managerial levels, in charitable organizations as well as volunteering positions, prepared her well on this new endeavour. Diane is quick to understand client’s needs and anticipate client’s needs. She is detail oriented and a good adviser. She’s easy to get along with and hard working to meet client’s needs.
C.F. WangEtobicoke
I found Diane to be to the point and knowledgeable with respect to my market concerns and questions.
R.A. RhodesEtobicoke

Diane M. Wani

Sales Representative
Accredited Senior Agent (ASA)
Sutton Group Old Mill Realty, Inc.,
Brokerage Independently Owned and Operated

Etobicoke
4237 Dundas Street West,
Toronto, Ontario M8X 1Y3
See Location

Office: 416-234-2424
Cell: 416-458-5982
Email me at: [email protected]

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We help you find your dream home.

Buying a home is one of the biggest financial commitments we make during our lives. Finding the right REALTOR ® for you, is the first step in the process.

I specialize in the Etobicoke area, where I have been a resident for over 20 years. I am very familiar with the Humber Bay, Sunnylea, Kingsway, Mimico, and Humber Valley Village areas.

On the other hand, selling your home can also be an overwhelming process. It is my job as a professional Realtor®, to guide you through the process and to get the best possible price for your home.

ASA Accredited Senior Agent

An Accredited Senior Agent (ASA) is a realtor who has received special training and has the expertise, dedication and commitment to serve the mature and senior client with their real estate needs.
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"Not intended to solicit anyone already listed with another broker."

"The information contained herein has been obtained through sources deemed reliable but cannot be guaranteed as to its accuracy. Any information of special interest should be independently verified."

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