Sales of homes in the Greater Toronto Area increased by 8.2 per cent in January compared to a year earlier. The Toronto Real Estate Board reports that there were 4,672 sales through its MLS in the month while the benchmark price was up 11.2 per cent and the average selling price increased by 14.1 per cent.
TREB president Mark McLean commented: “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.”