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JANUARY 2018 MARKET STATS

07 February 2018

January 2018 Market Stats

January 2018’s Toronto housing market is reflecting the measures taken by various levels of government to cool escalating home prices and consumer debt. At this time last year, we were in the midst of a housing price spike driven by exceptionally low inventory, which should be recognized when making comparisons to January 2017. However, prices for January 2018 showing a more modest growth consistent with the last half of 2017 coupled with an increase in inventory, may be a hopeful sign for buyers who have been shut out of the market for lack of product. The Ipsos research quoted in TREB’s 2018 Market Year In Review & Outlook Report indicates that 74% of likely buyers in the GTA think they will still qualify for a mortgage at the 2 percentage points higher than the posted five year fixed rate, as required under the new OSFI stress test rules.


DECEMBER 2017 MARKET STATS

06 January 2018

December  2017 Market  Stats

There were 92,394 home sales reported through the TREB MLS in 2017. Annual home sales were down 18.3% from a record-setting 2016, but the average price climbed up 12.7% compared with 2016. While sales have fallen for seven months since May, the GTA has seen signs of recovery in the past few months, with sales in December having the smallest monthly decline since the introduction of the 15% foreign home-buyer tax and the Ontario Fair Housing Plan in April.


NOVEMBER 2017 MARKET STATS

06 December 2017


November 2017 Market Stats

December 6, 2017

November 2017 has provided us with another interesting set of stats for the Toronto Real Estate Board MLS. Most notable is the average selling price for all home types in the GTA down 2 per cent compared to a year ago. However, as price increases in November 2016 were at an anomalous 22.7% over the previous year, a 2% drop suggests only the slightest of adjustment in the direction of affordability.



OCTOBER 2017 MARKET STATS

02 November 2017


October stats pointing to stronger market conditions in the GTA

November 2, 2017

Residential sales showed an above-average unit sales increase between September and October 2017 of almost 12%, but sales are down 27% from the same month last year. Condominiums were a key driver of both this increased number of sales and an overall 2.3% increase in selling price for October transactions compared to October of 2016. A recent Urbanation report forecasts that 2017 will set a new record for condo sales in the GTA with 12,000 units becoming available this quarter, pushing total sales to 34,000, up from 27,000 in 2016.



SEPTEMBER 2017 MARKET STATS

04 October 2017

September 2017 Market Stats

October 4, 2017

The market continues to work its way through the Ontario Government’s cooling measures and two recent consecutive interest rate increases by the Bank of Canada. Home sales in the Greater Toronto Area were down 35 per cent in September compared with the same month last year. However, the average selling price for all property types continued to increase with a 2.6 per cent rise compared to September 2016. Condos lead the selling price increase with a 23.2 per cent rise while detached home selling prices remain unchanged. With the number of new listings for the period up by 9.4 per cent year-over-year, the market is becoming better supplied which is good news for buyers.