Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB's MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year.
New listings entered into TREB's MLS® System in September 2018 amounted to 15,920 – down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs.
"It is healthy to see sales and prices in many areas across the Greater Toronto Area up a bit, compared to last year's lows. At the same, however, it is important to remember that TREB's market area is made up of over 500 communities. Market conditions have obviously unfolded differently across these communities. This is why it's important to work with a REALTOR® who is familiar with local market conditions in your areas of interest," said Mr. Bhaura.
"While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment. As the GTA population continues to grow, the real challenge in the housing market will be supply rather than demand. The Toronto Real Estate Board is especially concerned with issues affecting housing supply as we move towards municipal elections across the region," added Mr. Bhaura.
On a monthly basis, after preliminary seasonal adjustment, sales edged up by 0.2 per cent in September 2018 compared to August 2018. The average selling price, after preliminary seasonal adjustment, edged lower by 0.5 per cent month-over-month.
"Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condominium apartments, townhouses and semi-detached houses. In many neighbourhoods, these home types provide more affordable home ownership options. This is why a policy focus on increasing mid-density housing options throughout the GTA is important," said Jason Mercer, TREB's Director of Market Analysis.
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TREB's MARKET WATCH REPORT for SEPTEMBER 2018
1. Toronto Employment
Growth
November 2016 (0.3%)
Month December 2016
1 Year
3 Year
5 Year
3.14%
3.39%
4.64%
December 2016
1 Year
3 Year
5 Year
--
--
--
Market Watch
For All TREB Member Inquiries:
(416) 443-8158
For All Media/Public Inquiries:
(416) 443-8152
Record Sales in 2016
TORONTO, ONTARIO, January 5, 2017 – Toronto Real Estate Board President Larry Cerqua
announced that 2016 was a second consecutive record year for home sales. Greater Toronto
Area REALTORS® reported 113,133 home sales through TREB’s MLS® System – up by 11.8
per cent compared to 2015. The calendar year 2016 result included 5,338 sales in December
– an annual increase of 8.6 per cent.
The strongest annual rate of sales growth in 2016 was experienced for condominium
apartments followed by detached homes.
“A relatively strong regional economy, low unemployment and very low borrowing costs kept
the demand for ownership housing strong in the GTA, as the region’s population continued to
grow in 2016,” said Mr. Cerqua.
The annual rate of growth for the MLS® Home Price Index (HPI) in the TREB market area
accelerated throughout 2016 – from 10.7 per cent in January 2016 to 21 per cent in December
2016. The overall average selling price for calendar year 2016 was $729,922 – up 17.3 per
cent compared to 2015. The pace of the annual rate of growth for the average selling price
also picked up throughout the year, including a climb of 20 per cent in December.
“Price growth accelerated throughout 2016 as the supply of listings remained very constrained.
Active listings at the end of December were at their lowest point in a decade-and-a-half. Total
new listings for 2016 were down by almost four per cent. In 2016, we saw policy changes and
policy debates pointed at the demand side of the market. If we want to see a sustained
moderation in the pace of price growth, what we really need is more policy focus on issues
impacting the lack of homes available for sale,” said Jason Mercer, TREB’s Director of Market
Analysis.
TREB MLS® Sales Activity
5,338 4,917
December 2016 December 2015
TREB MLS® Average Price
$730,472
$608,714
December 2016 December 2015
Year-Over-Year Summary
2016 2015 % Chg.
Sales
New Listings
Active Listings
Average Price
Average DOM
5,338 4,917 8.6%
4,188 4,745 -11.7%
4,746 9,137 -48.1%
$730,472 $608,714 20.0%
20 29 -31.0%
Sources and Notes:
i - Statistics Canada, Quarter-over-quarter
growth, annualized
ii - Statistics Canada, Year-over-year
growth for the most recently reported
month
iii - Bank of Canada, Rate from most
recent Bank of Canada announcement
iv - Bank of Canada, Rates for most
recently completed month
Real GDP Growth
Q3 2016 3.5%
Toronto Unemployment
Rate
November 2016 6.9%
Inflation Rate (Yr./Yr. CPI
Growth)
November 2016 1.2%
Bank of Canada Overnight
Rate
December 2016 -- 0.50%
Prime Rate
December 2016 -- 2.70%
Economic Indicators
Metrics Sales Average Price
416 905 Total 416 905 Total
2016
Detached
Semi - Detached
Townhouse
Condo Apartment
526 1,733 2,259 $1,286,605 $934,055 $1,016,145
138 319 457 $808,920 $630,053 $684,065
172 610 782 $662,959 $566,395 $587,634
1,238 493 1,731 $466,592 $375,572 $440,669
Sales & Average Price By Major Home Type
December 2016
December 2016
i
ii
ii
iii
iv
Detached
Semi - Detached
Townhouse
Condo Apartment
23.7% 25.1% 23.1%
8.4% 27.1% 18.3%
23.5% 25.3% 23.7%
16.6% 15.5% 16.5%
Detached
Semi - Detached
Townhouse
Condo Apartment
-7.6% 12.0% 6.8%
-11.5% 0.6% -3.4%
-19.6% 6.1% -0.9%
19.5% 16.0% 18.5%
1,7
1,7
1,7
1,7
Year-Over-Year Per Cent Change
Mortgage Rates
2. Toronto Real Estate Board
Market Watch, December 2016
SALES BY PRICE RANGE AND HOUSE TYPE DECEMBER 2016
2
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
0 0 0 0 1 0 0 0 0 1
3 0 0 6 40 0 3 0 0 52
4 2 0 25 307 0 3 0 6 347
51 16 14 73 571 0 0 2 3 730
134 30 65 90 386 9 3 1 2 720
243 113 115 87 179 19 1 1 0 758
291 126 89 53 116 14 1 0 0 690
284 90 57 13 50 5 0 0 0 499
250 41 25 10 28 25 0 0 0 379
187 13 25 6 19 7 0 0 0 257
278 15 11 3 14 3 0 0 0 324
207 7 8 2 6 1 0 0 0 231
130 0 3 0 8 0 0 0 0 141
66 2 0 0 1 0 0 0 0 69
131 2 0 2 5 0 0 0 0 140
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
2 0 0 1 81 0 3 0 1 88
89 8 5 158 948 0 23 0 9 1,240
480 86 41 769 6,898 5 25 2 36 8,342
1,742 523 598 2,027 10,041 157 14 13 20 15,135
3,777 1,270 1,905 2,372 5,747 285 17 27 9 15,409
5,877 2,884 2,353 1,513 2,700 274 8 20 3 15,632
7,381 2,421 1,622 603 1,410 252 5 15 1 13,710
7,105 1,414 1,040 277 706 256 5 5 0 10,808
5,967 780 638 172 363 294 5 4 1 8,224
4,042 428 315 87 209 142 2 2 0 5,227
5,947 432 203 93 265 61 0 4 0 7,005
4,466 193 109 54 139 6 2 1 0 4,970
2,559 82 34 15 84 0 0 0 0 2,774
1,358 35 14 10 34 0 1 0 0 1,452
2,925 66 13 10 102 0 0 1 0 3,117
SALES BY PRICE RANGE AND HOUSE TYPE YEAR-TO-DATE, 2016
Total Sales
Share of Total Sales
Average Price
2,259 457 412 370 1,731 83 11 4 11 5,338
42.3% 8.6% 7.7% 6.9% 32.4% 1.6% 0.2% 0.1% 0.2% 100.0%
$1,016,145 $684,065 $655,731 $511,808 $440,669 $719,543 $350,411 $454,700 $313,173 $730,472
Total Sales
Share of Total Sales
Average Price
53,717 10,622 8,890 8,161 29,727 1,732 110 94 80 113,133
47.5% 9.4% 7.9% 7.2% 26.3% 1.5% 0.1% 0.1% 0.1% 100.0%
$974,698 $673,738 $621,601 $476,824 $416,252 $662,931 $408,150 $588,197 $302,462 $729,922
1,7
1,7
27. Toronto Real Estate Board
Market Watch, December 2016
HISTORIC ANNUAL STATISTICS
27
Year Sales Average Price
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
83,501 $315,231
84,145 $335,907
83,084 $351,941
93,193 $376,236
74,552 $379,347
87,308 $395,460
85,545 $431,276
89,096 $465,014
85,496 $497,130
87,049 $522,958
92,782 $566,624
2015 MONTHLY STATISTICS
NOTES
1 - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TREB MLS® system between the
first and last day of the month/period being reported.
2 - New listings entered into the TREB MLS® system between the first and last day of the month/period being reported.
3 - Active listings at the end of the last day of the month/period being reported.
4 - Ratio of the average selling price to the average listing price for firm transactions entered into the TREB MLS® system between the first and last day
of the month/period being reported.
5 - Average number of days on the market for firm transactions entered into the TREB MLS® system between the first and last day of the month/period
being reported.
6 - Due to past changes to TREB's service area, caution should be exercised when making historical comparisons.
7 - Past monthly and year-to-date figures are revised on a monthly basis.
8 - SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9 - Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
2016 MONTHLY STATISTICS
*For historic annual sales and average price data over a longer time frame go to:
January
February
March
April
May
June
July
August
September
October
November
December
Year to Date
4,640 $630,193
7,583 $685,738
10,260 $688,011
12,017 $739,767
12,793 $752,324
12,730 $746,961
9,934 $710,538
9,751 $710,975
9,836 $756,168
9,723 $762,747
8,528 $777,181
5,338 $730,472
113,133 $724,256
January
February
March
April
May
June
July
August
September
October
November
December
Annual
4,318 $552,925
6,294 $596,320
8,886 $613,818
11,254 $636,094
11,640 $649,648
11,905 $639,309
9,813 $608,875
7,943 $603,534
8,147 $627,867
8,759 $630,254
7,337 $632,774
4,917 $608,714
101,213 $622,121
1,6,7
1,7
1,7
http://www.torontorealestateboard.com/market_news/market_watch/historic_stats/p
df/TREB_historic_statistics.pdf
Copyright® 2017 Toronto Real Estate Board
$729,922113,133