Royal LePage Credit Valley Real Estate Brokerage

January 2020 Market Statistics

January 2020 Market Statistics

GTA REALTORS® Release January 2020 Stats

TRREB President Michael Collins announced that Greater Toronto Area REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per cent compared to January 2019. On a preliminary seasonally adjusted basis, sales were up by 4.8 per cent compared to December 2019.

“We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said Mr. Collins.

The MLS® HPI Composite Benchmark price was up by 8.7 per cent compared to January 2019 – the highest annual rate of growth for the Benchmark since October 2017. The condominium apartment market segment continued to lead the way in terms of MLS HPI® price growth, but all home types experienced price growth above seven per cent when considering the TRREB market area as a whole. The average selling price in January was up by 12.3 per cent, driven by the detached and condominium apartment segments in the City of Toronto.

“A key difference in the price growth story in January 2020 compared to January 2019 was in the low-rise market segments, particularly with regard to detached houses. A year seems to have made a big difference. It is clear that many buyers who were on the sidelines due to the OSFI stress test are moving back into the market, driving very strong year-over-year sales growth in the detached segment. Strong sales up against a constrained supply continues to result in an accelerating rate of price growth,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

Milton Summary:

Average Sale Price over this time last year:  + 3.7%

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

Oakville Summary:

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

Number of Sales over this time last year:  + 17.0 %

Burlington Summary:

Average Sale Price over this time last year:  + 16.2 %

Number of Sales over this time last year:  – 0.8 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 8.0 %

Number of Sales over this time last year: + 45 %

Mississauga Summary:

Average Sale Price over this time last year:  + 10.9 %

Number of Sales over this time last year: + 13.7 %

Posted by Christine Pecharich in Burlington, Georgetown, Market Reports, Milton, Mississauga, Oakville, 0 comments
OCTOBER 2019 MARKET STATISTICS

OCTOBER 2019 MARKET STATISTICS

GTA REALTORS® Release October 2019 Stats

November 5, 2019 — Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,491 residential sales through TREB’s MLS® System in October 2019. This result represented a 14 per cent increase compared to 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types.

The trend of annual growth in sales versus annual decline in new listings continued in October 2019, with new listings down by 9.6 per cent compared to October 2018. The resulting tighter market conditions compared to a year ago resulted in positive annual rates of price growth across all major market segments, from a GTA-wide perspective.

The MLS® Home Price Index Composite Benchmark was up by 5.8 per cent on a year-over-year basis in October 2019 – the strongest annual rate of growth since December 2017. The average selling price for all home types combined was up by 5.5 per cent to $852,142, compared to $807,538 in October 2018.

“As market conditions in the GTA have steadily tightened throughout 2019, we have seen an acceleration in the annual rate of price growth. While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers,” said Jason Mercer, TREB’s Chief Market Analyst.

 

Milton Summary:

Average Sale Price over this time last year:  + 4.6%

Number of Sales over this time last year:  + 18.3%

Oakville Summary:

Average Sale Price over this time last year:  -0.1%%

Number of Sales over this time last year:  + 4.4%

Burlington Summary:

Average Sale Price over this time last year:  + 1.8%

Number of Sales over this time last year:  + 8.1%

Halton Hills (Georgetown) Summary:

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

Number of Sales over this time last year:  + 14.6%

Mississauga Summary:

Average Sale Price over this time last year:  + 7.1%

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

 

 

 

 

Posted by Christine Pecharich, 0 comments
JUNE MARKET STATISTICS

JUNE MARKET STATISTICS

GTA REALTORS® Release June 2019 Stats

July 4, 2019 — The new President of the Toronto Real Estate Board, Michael Collins, announced that Greater Toronto Area REALTORS® reported 8,860 sales through TREB’s MLS® System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June and active listings at month-end were down by 5.7 per cent.

Sales and new listings statistics for the first half of 2019 compared to the same period in 2018 painted a similar story to that of June. Sales were up by 8.5 per cent, while new listings were up by less than one per cent. This shows that sales accounted for a greater share of listings compared to last year, which means that competition between buyers increased, resulting in renewed price growth in many segments of the market.

“As I start my term as President of the Toronto Real Estate Board, I am proud to say that the Greater Toronto Area continues to grow, in terms of employment, population and overall diversity. As people are attracted to our region from all around the world, they obviously need a place to live. Over the next year, as demand for ownership and rental housing continues to grow, my hope is that we will see more movement from policy makers on two fronts: alleviating the constrained supply of housing and providing more flexibility around demand-side policies, including the OSFI two percentage point mortgage stress test and allowable amortization periods on insured mortgages,” said Mr. Collins.

The overall average selling price in June 2019 was $832,703 – up by three per cent compared to the average of $808,066 in June 2018. Price growth was driven by the higher density market segments, including semi-detached houses, townhouses and condominium apartments. The MLS® Home Price Index Composite Benchmark was up by a similar annual rate of 3.6 per cent. For the first half of 2019, the average selling price was $810,661, representing an increase of 2.4 per cent compared to the first half of 2018.

“Buyers started moving off the sidelines in the spring, as evidenced by strong year-over-year price growth throughout the second quarter. However, because we saw virtually no change in the number of new listings, market conditions tightened and price growth picked up, especially for more higher density home types, which, on average, are less-expensive than traditional detached houses and therefore provide more affordable housing options under the new OSFI stress test regime,” said Jason Mercer, TREB’s Chief Market Analyst.

Milton Summary:

Average Sale Price over this time last year:  + 6.4%

Number of Sales over this time last year:  + 22.3%

Oakville Summary:

Average Sale Price over this time last year:  – 1 %

Number of Sales over this time last year:  + 4.5 %

Burlington Summary:

Average Sale Price over this time last year:  0 %

Number of Sales over this time last year:  + 11 %

Halton Hills (Georgetown) Summary:

Average Sale Price over this time last year:  + 3.2 %

Number of Sales over this time last year:  + 15.4 %

Mississauga Summary:

Average Sale Price over this time last year:  + 5.5%

Number of Sales over this time last year:  + 8.2%

Posted by Christine Pecharich in Burlington, Georgetown, Market Reports, Milton, Mississauga, Oakville, summer, 0 comments