Prices Up 0.1% & Sales Down 67% Across The GTA in April

8. May 2020 09:53

Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for April 2020:

Home Sales and Listings

  • Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System. This result was down by 67 per cent compared to April 2019. Weekday sales remained within a relatively steady range during the month, averaging 130 per day.

  • New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales (-64.1 per cent).

TREB Sales & Price - Apr 2020

Home Prices

  • The average selling price for April 2020 transactions was $821,392 – up by 0.1 per cent compared to the average price of $820,373 reported for April 2019. The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation. The condominium apartment and detached segments experienced year-over-year price declines on average.

  • The trend for the MLS® Home Price Index Composite Benchmark, which had been on an upward trajectory since the beginning of 2019 flattened in April. On a year-over-year basis, the Benchmark was up by 10 per cent.

  • The MLS® HPI indices represent prices for typical homes with consistent attributes from one period to the next. The fact that the MLS® HPI was up year-over-year by a greater rate than the average selling price suggests that the share of higher end deals completed in April 2020 versus April 2019 was down.

TREB Sales & Average Price Chart - Apr 2020

CLICK HERE to download the full April 2020 Toronto Regional Real Estate Board Market Update.


About the Toronto Regional Real Estate Board

The Toronto Regional Real Estate Board was founded in 1920 by a small group of real estate practitioners. Today, as Canada's largest real estate board, TREB serves more than 56,000 Members.

Toronto Regional Real Estate Board REALTORS® are passionate about their work. They're highly trained experts who have all the tools and skills to help you buy or sell your home.

They're marketing professionals who know how to make your home more saleable. And they know what questions to ask when you're considering buying a home.

They're up to date on the most current market conditions so they can counsel you through all the important decisions. And they negotiate for you to maximize your return. Get peace of mind with a real estate professional.

Let us know what you think, send all your feedback to: publicfeedback@trebnet.com

If you have any questions or concerns about the Toronto Regioanl Real Estate Board ("TREB") complaint process as it relates to the conduct of TREB Members, please email your comments to complaints@trebnet.com


About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 15 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit joinvisiontoronto.com

Prices up 7.5% Year-Over-Year Across The GTA in Q1 2020

16. April 2020 08:13

National Home Prices to Show Remarkable Resilience in 2020

 

  • Best case scenario forecast shows Canada’s aggregate home price could grow a modest 1% by the end of 2020
  • If the pandemic continues to heavily restrict business activity through late summer, a national home price decrease of 3% is expected by the end of 2020
  • The aggregate price of a home in Canada climbed 4.4 per cent year-over-year in Q1 2020
  • High demand and low inventory in Toronto, Montreal and Ottawa fueled rising home prices

According to the Royal LePage House Price Survey and Market Survey Forecast released today, the aggregate[1] price of a home in Canada is expected to remain remarkably stable through the COVID-19 pandemic.

If the strict, stay-at-home restrictions characterizing the fight against COVID-19 are eased during the second quarter, prices are expected to end 2020 relatively flat, with the aggregate value of a Canadian home up a modest 1.0 per cent year-over-year, to $653,800. If the current tight restrictions on personal movement are sustained through the summer, the negative economic impact is expected to drive home prices down by 3.0 per cent ($627,900) year-over-year. In December 2019, Royal LePage forecast the national aggregate price to increase 3.2 per cent by the end of 2020. Due to COVID-19, expected price growth has been revised down almost 70 per cent compared to Royal LePage’s base scenario.

“The impact of COVID-19 on the Canadian economy has been swift and violent, with layoffs driving high levels of unemployment across the country. While is it sad that these people skewed strongly to young and to part-time workers, for the housing industry, the impact of these presumably temporary job losses will be limited as these groups are much less likely to buy and sell real estate,” said Phil Soper, president and CEO, Royal LePage. “From our experience with past recessions and real estate downturns, we are not expecting significant year-over-year price changes in 2020. Home price declines occur when the market experiences sustained low sales volume while inventory builds. Currently, the inventory of homes for sale in this country is very low, matching low sales volumes as people respect government mandates to stay at home.

“It is easy to mistakenly equate a handful of transactions at lower prices to a reset in the value of the nation’s housing stock. Distressed sales that occur during an economic crisis are a poor proxy for real estate value,” said Soper.

Broad-based measurements of industry activity point to a sharp decline in the four or five weeks since all provinces declared states of emergency. Home search activity on popular real estate websites are down more than 20 per cent versus norms. Home showings are down by more than two-thirds, based on Royal LePage sampling. Open house gatherings of people at a property for sale have been reduced to almost zero nationwide

“As we ease out of strict stay-at-home regimens, sales volumes will return; traditional home sales practices will not,” continued Soper. “The popular ‘open house’ gathering of buyers on a spring afternoon is gone, and it won’t be coming back any time soon. The industry is leveraging technologies that allow a home to be shown remotely and social distancing protocols, where we restrict client interaction with our Realtors to limited one-on-one or two meetings, will continue for months and months. This process is inherently safer than a trip to the grocery store.”

The aggregate price of a home in Canada increased 4.4 per cent to $655,276 in the first quarter. When broken out by housing type, the median price of a two-storey home rose 5.1 per cent year-over-year to $770,005 while the median price of a bungalow and condominium rose 2.1 per cent and 4.4 per cent to $541,040 and $493,917, respectively. Price data, which includes both resale and new build, is provided by Royal LePage’s sister company RPS Real Property Solutions, a leading Canadian valuation company.

At the start of 2020, Canada’s housing market was experiencing a surge in home sales with growing upward pressure on major market home prices. This resulted from pent up demand that was released in the second half of 2019 when federal mortgage stress test measures implemented in 2018 had largely been absorbed by the market and consumer confidence began to build.

“If the fight against the coronavirus requires today’s tight stay-at-home mandates to remain in place for several months more, with no semblance of normal business activity allowed, temporary job losses will become permanent and consumer confidence will be harder to repair,” said Soper. “This would place downward pressure on both home sales volumes and prices.

“Equally, if the collective efforts of Canadians slow the spread of the disease to manageable levels, and if promising science and therapeutic drugs are announced, people will return to their jobs, market confidence will bounce back quickly, and we could see Canada’s real markets roar back to life, with 2020 transactions delayed but not eliminated.”

GREATER TORONTO AREA SUMMARY

Housing demand outstripped supply in the Greater Toronto Area putting significant upward pressure on home prices. During the first quarter of 2020, the Greater Toronto Area aggregate home price rose 7.5 per cent year-over-year to $866,211.

When broken out by property type, the median price of a condominium saw the highest appreciation, rising 8.8 per cent year-over-year to $580,508. The median price of a two-storey home and bungalow rose 7.7 per cent and 3.7 per cent to $1,010,004 and $826,186, respectively.

“Toronto real estate appreciated rapidly in the first quarter as the demand that began in the second half of 2019 kept its momentum while inventory remained low. However, by mid-March both buyers and sellers had pulled back to adhere to social distancing measures and gauge the impact of the pandemic on the market,” said Kevin Somers, chief operating officer, Royal LePage Real Estate Services Limited.

If business activity resumes by the end of the second quarter, the Greater Toronto Area may see a year-over-year increase of 1.5 per cent to its aggregate home price by the end of 2020, increasing to $861,100. If business activity resumes in late summer 2020, the region could see a decrease of 0.5 per cent year-over-year in aggregate home price to $844,200.

Q1 2020 - RLP GTA Regional Breakdown

Royal LePage Home Price Data and Forecasts:

About the Royal LePage House Price Survey

The Royal LePage House Price Survey provides information on the three most common types of housing in Canada, in 64 of the nation’s largest real estate markets. Housing values in the Royal LePage House Price Survey are based on the Royal LePage Canadian Real Estate Market Composite, produced quarterly through the use of company data in addition to data and analytics from its sister company, RPS Real Property Solutions, the trusted source for residential real estate intelligence and analytics in Canada. Commentary on housing and forecast values are provided by Royal LePage residential real estate experts, based on their opinions and market knowledge. 

About Royal LePage

Serving Canadians since 1913, Royal LePage is the country’s leading provider of services to real estate brokerages, with a network of over 18,000 real estate professionals in over 600 locations nationwide. Royal LePage is the only Canadian real estate company to have its own charitable foundation, the Royal LePage Shelter Foundation, dedicated to supporting women’s and children’s shelters and educational programs aimed at ending domestic violence. Royal LePage is a Bridgemarq Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE. For more information, please visit www.royallepage.ca

About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 16 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit https://joinvisiontoronto.com

Prices up 14.5% & Sales Up 12.3% Across The GTA

3. April 2020 06:58

Toronto Regional Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,012 home sales through TRREB’s MLS® System in March 2020 – up by 12.3 per cent compared to 7,132 sales reported in March 2019.

However, despite a strong increase in sales for March 2020 as a whole, there was a clear break in market activity between the pre-COVID-19 and post-COVID-19 periods. For the purposes of this release, the start of the post-COVID-19 period was the week beginning Sunday, March 15.

  • The overall March sales result was clearly driven by the first two weeks of the month. There were 4,643 sales reported in the pre-COVID-19 period, accounting for 58 per cent of total transactions and representing a 49 per cent increase compared to the first 14 days of March 2019.
  • There were 3,369 sales reported during the post-COVID-period – down by 15.9 per cent compared to the same period in March 2019.

TREB Sales & Price - Mar 2020

For March as a whole, new listings were up by three per cent year-over-year to 14,424. However, similar to sales, new listings dropped on a year-over-year basis during the second half of the month (beginning March 15) by 18.4 per cent.

The MLS® Home Price Index Composite Benchmark price was up by 11.1 per cent year-over-year in March 2020. The average selling price for March 2020 as a whole was $902,680 – up 14.5 per cent compared to March 2019. The average selling price for sales reported between March 15 and March 31, was $862,563 – down from the first half of March 2020, but still up by 10.5 per cent compared to the same period last year.

TREB Sales & Average Price Chart - Mar 2020

CLICK HERE to download the full March 2020 Toronto Regional Real Estate Board Market Update.


About the Toronto Regional Real Estate Board

The Toronto Regional Real Estate Board was founded in 1920 by a small group of real estate practitioners. Today, as Canada's largest real estate board, TREB serves more than 56,000 Members.

Toronto Regional Real Estate Board REALTORS® are passionate about their work. They're highly trained experts who have all the tools and skills to help you buy or sell your home.

They're marketing professionals who know how to make your home more saleable. And they know what questions to ask when you're considering buying a home.

They're up to date on the most current market conditions so they can counsel you through all the important decisions. And they negotiate for you to maximize your return. Get peace of mind with a real estate professional.

Let us know what you think, send all your feedback to: publicfeedback@trebnet.com

If you have any questions or concerns about the Toronto Regioanl Real Estate Board ("TREB") complaint process as it relates to the conduct of TREB Members, please email your comments to complaints@trebnet.com


About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 15 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit joinvisiontoronto.com

Prices up 16.7% & Sales Up 45.6% Across The GTA

4. March 2020 08:54

In line with the forecast contained in the Toronto Regional Real Estate Board’s recently released Market Year in Review and Outlook Report, TRREB President Michael Collins announced a very strong year-over-year sales and price growth in February 2020.

Greater Toronto Area REALTORS® reported 7,256 residential transactions through TRREB’s MLS® System in February 2020, representing a 45.6 per cent increase compared to a 10-year sales low in February 2019. However, February 2020 sales were still below the 2017 record result. Year-over-year sales growth, for the GTA as a whole, was strongest for ground-oriented home types.

After preliminary seasonal adjustment, February 2020 sales also exhibited positive momentum, up by 14.8 per cent compared to January 2020.

TREB Sales & Price - Feb 2020

New listings amounted to 10,613 in February 2020, a 7.9 per cent increase compared to February 2019. This moderate annual growth rate was much smaller than that reported for sales, which means market conditions tightened considerably over the past year.

As market conditions tightened over the past year, competition between buyers has clearly increased. This resulted in a further acceleration in year-over-year price growth in February. The MLS® Home Price Index Composite Benchmark was up by 10.2 per cent. The average selling price for all home types combined was up by 16.7 per cent to $910,290. Double-digit average price growth was experienced for most major market segments, including detached houses and condominium apartments.

TREB Sales & Average Price Chart - Feb 2020

CLICK HERE to download the full February 2020 Toronto Regional Real Estate Board Market Update.


About the Toronto Regional Real Estate Board

The Toronto Regional Real Estate Board was founded in 1920 by a small group of real estate practitioners. Today, as Canada's largest real estate board, TREB serves more than 56,000 Members.

Toronto Regional Real Estate Board REALTORS® are passionate about their work. They're highly trained experts who have all the tools and skills to help you buy or sell your home.

They're marketing professionals who know how to make your home more saleable. And they know what questions to ask when you're considering buying a home.

They're up to date on the most current market conditions so they can counsel you through all the important decisions. And they negotiate for you to maximize your return. Get peace of mind with a real estate professional.

Let us know what you think, send all your feedback to: publicfeedback@trebnet.com

If you have any questions or concerns about the Toronto Regioanl Real Estate Board ("TREB") complaint process as it relates to the conduct of TREB Members, please email your comments to complaints@trebnet.com


About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 15 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit joinvisiontoronto.com

Prices up 12.3% & Sales Up 15.4% Across The GTA

18. February 2020 10:17

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.

TREB Sales & Price - Jan 2020

“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, TRREB’s Director of Market Analysis and Service Channels.

TREB Sales & Average Price Chart - Jan 2020

CLICK HERE to download the full January 2020 Toronto Regional Real Estate Board Market Update.


About the Toronto Regional Real Estate Board

The Toronto Regional Real Estate Board was founded in 1920 by a small group of real estate practitioners. Today, as Canada's largest real estate board, TREB serves more than 56,000 Members.

Toronto Regional Real Estate Board REALTORS® are passionate about their work. They're highly trained experts who have all the tools and skills to help you buy or sell your home.

They're marketing professionals who know how to make your home more saleable. And they know what questions to ask when you're considering buying a home.

They're up to date on the most current market conditions so they can counsel you through all the important decisions. And they negotiate for you to maximize your return. Get peace of mind with a real estate professional.

Let us know what you think, send all your feedback to: publicfeedback@trebnet.com

If you have any questions or concerns about the Toronto Regioanl Real Estate Board ("TREB") complaint process as it relates to the conduct of TREB Members, please email your comments to complaints@trebnet.com


About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 15 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit joinvisiontoronto.com

Prices up 7.1% & Sales Up 14.2% Across The GTA

12. December 2019 07:42

Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,090 sales through TREB’s MLS® System in
November 2019 – a 14.2 per cent increase compared to November 2018. On a GTA-wide basis, sales were up year-over-year for all major market segments. Annual sales growth in groundoriented home types, including detached houses, led the way.

New listings entered into TREB’s MLS® System in November and the active listings count at the end of the month went in the opposite direction compared to last year, with new listings down 17.9 per cent year-over-year and active listings down 27.2 per cent.

TREB Sales & Price - Nov 2019

“An increasing number of home buyers impacted by demand-side policies over the past three years, including the 2017 Ontario Fair Housing Plan and the OSFI mortgage stress test, have moved back into the market for ownership housing. Based on affordability and stricter mortgage qualification standards, many buyers may have likely adjusted their preferences, changing the type and/or location of home they ultimately chose to purchase,” said Mr. Collins.

As market conditions continued to tighten in November 2019, with increased sales up against an increasingly constrained supply of listings, the annual rate of price growth continued to accelerate. The MLS® Home Price Index Composite Benchmark increased by 6.8 per cent year-over-year. The average selling price increased by 7.1 per cent year-over-year to $843,637. Both the MLS® HPI and the average selling price for the TREB market area as a whole experienced the strongest annual rates of price growth for the year in November.

“Strong population growth in the GTA coupled with declining negotiated mortgage rates resulted in sales accounting for a greater share of listings in November and throughout the second half of 2019. Increased competition between buyers has resulted in an acceleration in price growth. Expect the rate of price growth to increase further if we see no relief on the listings supply front,” said Jason Mercer, TREB’s Chief Market Analyst.

TREB Sales & Average Price Chart - Nov 2019

CLICK HERE to download the full November 2019 Toronto Real Estate Board Market Update.


About the Toronto Real Estate Board

The Toronto Real Estate Board was founded in 1920 by a small group of real estate practitioners. Today, as Canada's largest real estate board, TREB serves more than 54,500 Members.

Toronto Real Estate Board REALTORS® are passionate about their work. They're highly trained experts who have all the tools and skills to help you buy or sell your home.

They're marketing professionals who know how to make your home more saleable. And they know what questions to ask when you're considering buying a home.

They're up to date on the most current market conditions so they can counsel you through all the important decisions. And they negotiate for you to maximize your return. Get peace of mind with a real estate professional.

Let us know what you think, send all your feedback to: publicfeedback@trebnet.com

If you have any questions or concerns about the Toronto Real Estate Board ("TREB") complaint process as it relates to the conduct of TREB Members, please email your comments to complaints@trebnet.com


About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 15 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit joinvisiontoronto.com

Prices up 5.5% & Sales Up 14% Across The GTA

5. November 2019 08:30

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.

“A strong regional economy obviously fuels population growth. All of these new households need a place to live and many have the goal of purchasing a home. The problem is that the supply of available listings is actually dropping, resulting in tighter market conditions and accelerating price growth,” said Mr. Collins.

TREB Sales & Price - Oct 2019

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.

TREB Sales & Average Price Chart - Oct 2019

CLICK HERE to download the full October 2019 Toronto Real Estate Board Market Update.


About the Toronto Real Estate Board

The Toronto Real Estate Board was founded in 1920 by a small group of real estate practitioners. Today, as Canada's largest real estate board, TREB serves more than 54,500 Members.

Toronto Real Estate Board REALTORS® are passionate about their work. They're highly trained experts who have all the tools and skills to help you buy or sell your home.

They're marketing professionals who know how to make your home more saleable. And they know what questions to ask when you're considering buying a home.

They're up to date on the most current market conditions so they can counsel you through all the important decisions. And they negotiate for you to maximize your return. Get peace of mind with a real estate professional.

Let us know what you think, send all your feedback to: publicfeedback@trebnet.com

If you have any questions or concerns about the Toronto Real Estate Board ("TREB") complaint process as it relates to the conduct of TREB Members, please email your comments to complaints@trebnet.com


About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 15 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit joinvisiontoronto.com

Prices Up 5.8% & Sales Up 22% Across The GTA

7. October 2019 13:00

Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales.

On a preliminary seasonally adjusted basis, the September 2019 sales level remained in virtually the same as the August 2019 result.

TREB Sales & Price - Sept 2019

The supply of listings continued to be a concern in September 2019, with new listings down by 1.9 per cent year-over-year to 15,611. We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, resulting in the overall number of active
listings at month-end being well-below last year’s levels. This speaks to tightening market conditions and an accelerating annual rate of price growth.

The annual rate of price growth in September reached the highest point so far in 2019. The MLS® Home Price Index (HPI) Composite Benchmark was up by
5.2 per cent on a year-over-year basis in September. The average selling price for all home types combined was up by a similar annual rate of 5.8 per cent to
$843,115.

On a preliminary seasonally adjusted basis, the September 2019 average selling price was up by 1.2 per cent compared to August 2019.

TREB Sales & Average Price Chart - Sept 2019

CLICK HERE to download the full September 2019 Toronto Real Estate Board Market Update.


About the Toronto Real Estate Board

The Toronto Real Estate Board was founded in 1920 by a small group of real estate practitioners. Today, as Canada's largest real estate board, TREB serves more than 54,500 Members.

Toronto Real Estate Board REALTORS® are passionate about their work. They're highly trained experts who have all the tools and skills to help you buy or sell your home.

They're marketing professionals who know how to make your home more saleable. And they know what questions to ask when you're considering buying a home.

They're up to date on the most current market conditions so they can counsel you through all the important decisions. And they negotiate for you to maximize your return. Get peace of mind with a real estate professional.

Let us know what you think, send all your feedback to: publicfeedback@trebnet.com

If you have any questions or concerns about the Toronto Real Estate Board ("TREB") complaint process as it relates to the conduct of TREB Members, please email your comments to complaints@trebnet.com


About Royal LePage Vision

Founded in 2003, Royal LePage Vision, in Toronto, is a multiple award-winning brokerage with a strong contingent of high-performing agents. Our strength over the past 15 years is rooted in technology and how innovation translates to exceptional service.

From top to bottom our brokerage is built on making it easier for our Realtors to succeed in real estate while staying consistently connected to the office. With a strong emphasis on training, for both our support staff & Realtors, each one of our Realtors has the support and tools to be effective in their market.

If you would like to learn more about the difference VISION makes, please give us a call at 416-321-2228 or visit joinvisiontoronto.com.

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