GTA REALTORS(R) Release Monthly Resale Housing Figures

TORONTO, ONTARIO--(Marketwired - Nov. 5, 2015) - Toronto Real Estate Board President Mark McLean announced that Greater Toronto Area REALTORS® reported 8,804 home sales through TREB's MLS® System in October 2015. This is the best result on record for the month of October.

"It is clear that many GTA households remain upbeat about home ownership because owning a home represents a high quality, long-term investment. We will see a big, new record this year for home sales reported through TREB's MLS® System," said Mr. McLean.

"Despite the record October result, I must point out that the Government of Ontario could hamper home sales in the near future. The Wynne government is seriously considering allowing municipalities throughout Ontario to institute a second land transfer tax on top of the existing provincial tax. Recent polling has shown that the great majority of Ontarians oppose this tax and would consider delaying a move if they were forced to bear the additional upfront cost," added Mr. McLean.

The MLS® Home Price Index (HPI) Composite Benchmark was up by 10.3 per cent year over year in October. Over the same period, the average selling price for all home types combined was up by 7.3 per cent to $630,876. Price growth continued to be driven by the low-rise market segments.

"Record sales coupled with a constrained supply of listings in many GTA neighbourhoods has underpinned very strong price growth throughout 2015. Even if we do see a greater supply of low-rise listings in the marketplace over the next year, market conditions will remain tight enough to see continued price growth well-above the rate of inflation," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price - October 1 -31, 2015
	2015			2014
	Sales	Average Price	New Listings	Sales	Average Price	New Listings
City of Toronto ("416")	3,431	671,350	5,593	3,404	633,483	5,665
Rest of GTA ("905")	5,373	605,030	7,746	5,108	557,598	7,724
GTA	8,804	630,876	13,339	8,512	587,945	13,389

TorontoMLS Sales & Average Price By Home Type - October 1 -31, 2015
		Sales						Average Price
		416		905		Total		416		905		Total
Detached		1,077		3,023		4,100		1,071,394		734,745		823,177
	Yr./Yr. % Change	-9.7	%	2.4	%	-1.1	%	12.5	%	9.1	%	9.2	%
Semi-Detached		381		542		923		747,149		512,234		609,203
	Yr./Yr. % Change	1.9	%	4.2	%	3.2	%	10.0	%	13.8	%	11.6	%
Townhouse		347		1,030		1,377		579,358		456,585		487,524
	Yr./Yr. % Change	-3.6	%	9.1	%	5.6	%	11.2	%	10.1	%	9.8	%
Condo Apartment		1,587		632		2,219		406,792		318,317		381,593
	Yr./Yr. % Change	9.7	%	9.7	%	9.7	%	4.2	%	3.0	%	3.9	%

October 2015 Year-Over-Year Per Cent Change in the MLS® HPI
	Composite (All Types)		Single-Family Detached		Single-Family Attached		Townhouse		Apartment
TREB Total	10.33	%	11.67	%	11.06	%	10.57	%	5.23	%
Halton Region	9.74	%	9.75	%	9.75	%	8.42	%	-
Peel Region	9.52	%	10.07	%	10.67	%	10.30	%	3.66	%
City of Toronto	8.21	%	10.53	%	8.53	%	9.27	%	5.21	%
York Region	14.17	%	14.79	%	14.59	%	14.35	%	7.07	%
Durham Region	13.02	%	12.57	%	13.92	%	13.39	%	9.57	%
Orangeville	10.33	%	10.60	%	10.20	%	-		-
South Simcoe County1	12.93	%	11.47	%	14.96	%	-		-
Source: Toronto Real Estate Board
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state- of-the-art Multiple Listing Service. Over 42,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.