GTA Market Stats for August 2016

19 September 2016
Life and the City

August 2016 boasted some pretty amazing statistics, most prominantly a 17.7% year-over-year sale price change - up 1.2% from July. The total number of homes for sale was down to 9,949 compared with July's 11,346 homes, however the ratio of sales to listings was an impressive 98.6% in August, compared to July's 88% ratio, meaning that inventory is down but the demand remains very high, driving prices up for a 15th time in 16 consecutive months. 

Out of all home types, detached homes saw the most considerable price gain with a 21.5% year-over-year increase in average price across all areas of the GTA, and a 22.1% year-over-year increase in sales. Condo apartments had an even larger year-over-year increase in sales at 32%, but a more modest 9.8% increase in average price. Watch the RE/MAX Hallmark August 2016 Market Report below to find out the sales and average price stats for all other major home types across the GTA.

Canadian home prices rose 1.5% from July to August this year, with the GTA market leading the way with a 2.8% month-to-month increase. GTA home prices have seen a “marked acceleration” in the last 3 months in particular, with monthly price gains in that period averaging 3.1%. Read the article here to learn more.

Take a look at the infographics below to discover overall market stats, as well as stats for districts throughout the GTA, and watch the video at the bottom of this post for even more insight. This interactive map identifies the area that each district covers. Feel free to reach out to us if you have any questions regarding these stats, or if you want to learn more about current stats in your own neighbourhood!

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All Districts

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Downtown Condos

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North-Central Districts

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South-Central Districts

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East Districts

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York Districts

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Watch RE/MAX Hallmark's August 2016 Toronto Market Report: