The Toronto Real Estate Board recently released its Market Year In Review and Homeowners Survey. Here are some of the highlights:
- There were 101,299 homes sold in 2015, an increase of 9.2 per cent over 2014.
- Approximately 37 per cent of sales were within the City of Toronto, with the rest in other areas of the Greater Toronto Area.
- 81 per cent of people buying in the City of Toronto had previously lived in the City of Toronto.
- 60 per cent of homes sold were resale homes.
- First time home buyers made up of more than half, or 53 per cent, of all home purchases in the GTA, and 60 per cent in the City of Toronto.
- The average length of time homeowners in the GTA spent in their current homes was 10 years.