GTA market statistics

AUGUST 2019 MARKET STATISTICS

AUGUST 2019 MARKET STATISTICS

GTA REALTORS® Release August 2019 Stats

September 5, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,711 residential sales through TREB’s MLS® System in August 2019. This result represented a 13.4 per cent increase compared to 6,797 sales reported in August 2018. On a monthover- month basis, after preliminary seasonal adjustment, sales were up by 0.8 per cent.

GTA-wide sales were up on a year-over-year basis for all major market segments, with annual rates of sales growth strongest for low-rise home types including detached houses. This reflects the fact that demand for more expensive home types was very low in 2018 and has rebounded to a certain degree in 2019, albeit not back to the record levels experienced in 2016 and the first quarter of 2017.

Market conditions also became tighter in August 2019 compared to a year ago because, while sales were up year-over-year, new listings were down by three per cent over the same time period to 11,789. Year-to-date, growth in sales has well outstripped growth in new listings. This is why overall active listings counted at the end of August were down by more than 11 per cent compared to August 2018.

The MLS® Home Price Index Composite Benchmark for August 2019 was up by 4.9 per cent on a year-over-year basis. The average selling price, at $792,611 in August 2019, was up by 3.6 per cent year-over-year. Both the MLS® HPI benchmark prices and average selling prices were up on an annual basis for major market segments. The condominium apartment segment continued to lead the way in terms of price growth, followed by higher density low-rise home types and finally detached houses.

Milton Summary:

Average Sale Price over this time last year:  + 4.7%

Number of Sales over this time last year:  + 21.4%

Oakville Summary:

Average Sale Price over this time last year:  + 0%

Number of Sales over this time last year:  + 4.3%

Burlington Summary:

Average Sale Price over this time last year:  + .8%

Number of Sales over this time last year:  + 11.2%

Halton Hills (Georgetown) Summary:

Average Sale Price over this time last year:  + 3.0%

Number of Sales over this time last year:  + 15.3%

Mississauga Summary:

Average Sale Price over this time last year:  + 6%

Number of Sales over this time last year:  + 9.3%

 

Posted by Christine Pecharich, 0 comments
JULY 2019 MARKET STATISTICS

JULY 2019 MARKET STATISTICS

GTA REALTORS® Release July 2019 Stats

August 6, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB’s MLS® System in July 2019. This result was up by 24.3 per cent compared to July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after preliminary seasonal adjustment.

New listings entered into TREB’s MLS® System in July 2019 were up compared to July 2018, but by a much lesser annual rate than sales, at 3.7 per cent. With annual growth in sales far outstripping annual growth in new listings, market conditions clearly tightened compared to last year. Active listings at the end of July were down by 9.1 per cent year-over-year, further reflecting tightening market conditions.

As market conditions continued to tighten in July, the average selling price increased by 3.2 per cent on a year-over-year basis to $806,755. The MLS® Home Price Index Composite benchmark was up by 4.4 per cent. Higher density home types continued to drive price growth, whereas detached home prices remained down in many communities throughout the GTA.

Broadly speaking, increased competition between buyers for available properties has resulted in relatively strong price growth above the rate of inflation for semi-detached houses, townhouses and condominium apartments. However, the single-detached market segment, which has arguably been impacted most by the OSFI stress test, has experienced a slower pace of price growth, with average detached prices remaining lower than last year’s levels in some parts of the GTA.

Milton Summary:

Average Sale Price over this time last year:  + 5.2%

Number of Sales over this time last year:  + 19.8%

Oakville Summary:

Average Sale Price over this time last year:  + 0%

Number of Sales over this time last year:  + 5.1%

Burlington Summary:

Average Sale Price over this time last year:  + 0.4%

Number of Sales over this time last year:  + 12.1%

Halton Hills Summary:

Average Sale Price over this time last year:  + 3.0%

Number of Sales over this time last year:  + 18.4%

Mississauga Summary:

Average Sale Price over this time last year:  + 5.7%

Number of Sales over this time last year:  + 8.3%

 

 

 

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MAY MARKET STATISTICS

MAY MARKET STATISTICS

GTA REALTORS® Release May 2019 Stats

June 5, 2019 — Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 9,989 transactions through TREB’s MLS® System in May 2019.* While this result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, it should be noted that the result was still below the average for month of May sales for the previous ten years, which stands at almost 10,300.

The year-over-year uptick in sales experienced so far in the second quarter of 2019 reflects spring polling results from Ipsos (undertaken on behalf of TREB) suggesting that the share of likely home buyers in the Greater Toronto Area has edged upwards since the fall.

“After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing. Households continue to see ownership housing in the GTA as a quality long-term investment as population growth from immigration remains strong and the regional economy continues to create jobs across diversity of sectors. However, sales activity continues to be below the longer term norm, as potential home buyers come to terms with the OSFI mortgage stress test and the fact that listings continue to be constrained relative to sales,” said Mr. Bhaura.

The number of new listings entered into TREB’s MLS® System in May 2019 was up only slightly compared to May 2018, increasing by 0.8 per cent to 19,386. Year-over-year growth in new listings was far outstripped by year-over-year growth in sales. This means that market conditions continued to tighten in favour of sellers. The MLS® Home Price Index (HPI) Composite benchmark price was up by 3.1 per cent on a year-over-basis. The average selling price for all home types combined was up by a similar 3.6 per cent to $838,540. Price growth was driven by the condominium apartment and townhouse market segments.

Milton Summary:

Average Sale Price over this time last year:  + 5.4%

Number of Sales over this time last year:  + 23.3%

Oakville Summary:

Average Sale Price over this time last year:  – 1.4%

Number of Sales over this time last year:  + 4.6%

Burlington Summary:

Average Sale Price over this time last year:  – 0.8%

Number of Sales over this time last year:  + 12.0%

Halton Hills (Georgetown) Summary:

Average Sale Price over this time last year:  + 2.2%

Number of Sales over this time last year:  + 55.6%

Mississauga Summary:

Average Sale Price over this time last year:  + 6.0%

Number of Sales over this time last year:  + 9.3%

Posted by Christine Pecharich, 0 comments