/EINPresswire.com/ -- TORONTO, ONTARIO -- (Marketwired) -- 02/03/16 -- Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB's MLS® System in January 2016. This result represented an 8.2 per cent increase compared to January 2015.

"It is clear that the handoff from 2015 to 2016 was a strong one. This is not surprising given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong for this year as households continue to see home ownership as an affordable long-term investment," said McLean.

The MLS® Home Price Index Composite Benchmark Price for January 2015 was up by 11.2 per cent on a year-over-year basis. The average selling price over the same period was up by 14.1 per cent.

The difference in the annual growth rates for the MLS® HPI and average price was largely due to a greater share of high-end detached homes sold in the regions surrounding the City of Toronto this year compared to last. The MLS® HPI removes the impact of shifts in the share of different property types sold from one year to the next.

"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," said Jason Mercer, TREB's Director of Market Analysis.

    Summary of TorontoMLS Sales and Average Price - January 1 - 31, 2016
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                                    2016                     2015
                         ---------------------------------------------------
                                 Average       New         Average       New
                          Sales    Price  Listings  Sales    Price  Listings
City of Toronto ("416")   1,699  636,728     3,757  1,544  583,084     3,901
Rest of GTA ("905")       2,973  627,871     5,200  2,774  536,139     5,646
GTA                       4,672  631,092     8,957  4,318  552,925     9,547
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    TorontoMLS Sales & Average Price By Home Type - January 1 -31, 2016
                                 Sales                Average Price
                            416    905  Total         416      905    Total
                         ---------------------------------------------------

Detached                    496  1,613  2,109   1,061,789  783,565  848,999
  Yr./Yr. % Change         11.2%   5.4%   6.7%       11.6%    20.9%    18.5%
Semi-Detached               122    330    452     713,972  515,024  568,723
  Yr./Yr. % Change         -3.2%  14.6%   9.2%        7.3%    12.8%     9.3%
Townhouse                   172    559    731     519,732  472,039  483,261
  Yr./Yr. % Change         14.7%   8.3%   9.8%        1.3%    12.0%     9.3%
Condo Apartment             897    405  1,302     416,104  319,855  386,165
  Yr./Yr. % Change         11.6%   3.6%   9.0%        8.6%     3.1%     7.5%
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Source: Toronto Real Estate Board

       January 2016 Year-Over-Year Per Cent Change in the MLS® HPI
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                                    Single-   Single-
                        Composite    Family    Family
                      (All Types)  Detached  Attached  Townhouse  Apartment
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TREB Total                  11.21%    12.91%    11.99%     10.33%      5.87%
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Halton Region               14.59%    14.81%    14.09%     10.05%         -
Peel Region                 11.19%    11.33%    12.51%      9.57%     10.96%
City of Toronto              8.35%    11.29%     8.83%     10.52%      4.88%
York Region                 14.52%    15.27%    14.20%     13.01%      7.48%
Durham Region               13.96%    13.25%    14.97%      9.65%      5.48%
Orangeville                 16.10%    16.61%    14.30%         -          -
South Simcoe County(1)      17.65%    16.18%    17.15%         -          -
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Source: Toronto Real Estate Board

(1) South 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 43,000 residential and commercial TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board. www.TREBhome.com

Contacts:
Media Inquiries: Toronto Real Estate Board
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
maryg@trebnet.com
www.TREBhome.com

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