07 Sep Toronto Real Estate Market Report
Toronto Real Estate Market Update June 2019
In 2019, the prices of detached homes in City of Toronto went down by 1.6% for the month of June in comparison to June last year. Whereas, prics of detached homes, town homes and condos went up 5.4%, 9.2% and 5.1% respectively in City of Toronto.
Overall for Greater Toronto Area (GTA), the sales activities were up by 10.4% in June 2019 for year over year comparison. This was accompanied by 3.0% average price increase in real estae maket. On an avearage a property was in market for about 21 days, the active listings were less by 5.7% and new listings were down by 0.4% in month of June 2019 compared to june last year.
Two news items to share at the start of this month. The Toronto Real Estate Market Update for month of August 2017 and Bank of Canada announcing hike of overnight landing rates. The real estate market update is a scheduled report and no surprises in there, but the other one was bit of surprise for all, the Bank of Canada increasing the overnight landing rate by quarter of a percent to 1%. It was anticipated that it may go up in coming time – may be in October, but increasing it in September was bit of unexpected. Though it had positive effect on loonie and it jumped in value against US dollar.
For Toronto market, the average prices of detached home saw negative growth for the first time in long run for year over year comparison. The semis continued appreciation showing decent growth in terms of prices over 15 basis point and average townhouse prices showed similar trend of increase of 11%. The condo market has been the driving force of current market in terms of price appreciation. The average price of condos jumped 1/5 of the prices for August last year to reach $540,169.
The sales activity for Greater Toronto Area was observed to dip by almost 35% for the month of August 2017 compared to last year. Though the average prices for all types of properties saw a small growth of about 3%. The numbers of properties available for sale continues to be higher due to lower sales activities. This has increased the number of active listings to 65% compared to last year. Though the new properties coming in market has reduced by about 7%. In GTA (Greater Toronto Area), a property stayed in market for about 25 days.
Toronto Real Estate – Market Update July 2017
Toronto Real Estate – Market Update June 2017
Toronto Real Estate – Market Update May 2017
Here are the numbers from Toronto Real Estate Board for the month of April 2017.
The trend of price rice continues despite decline in the sales activity. The drop in sales activity is largely due to the provincial government’s announcement to implement foreign buyer’s tax and rent control measures around the region of Greater Golden Horseshoe.
This has sent shock waves through market inducing fear, leading to speculative situation. People are holding back on making any decision. Average buyer is waiting to see if price drops. Of course there would be fewer buyers as foreign buyers may be reduced or not present.
This trend may continue through part of this month before the normal sales activity pick up. Those who do not prefer to be in bidding situation, this is good time to participate.
Yet another month of staggering numbers. Yes, the Toronto Real Estate Market continues the upward trend and is unstoppable. Here is summary for the month of March 2017 compared to the same period last year.
Greater Toronto Area Stats
Active Listing down by 35.2%
New listing up by 15.2%
It took an average of 10 Days for a home to sell in March 2017
Average prices in Toronto
Detached – $1,561,780 – up by 32.8%
Semi-detached – $1,089,605 – up by 33.3%
Townhouse – $761,128 – up by 22.0%
Condo apartment – $550,299 – up by 32.0%
In February 2017, the average sale price of detached homes in Toronto climbed to $1,573,622 up by 29.8% compared to February 2016. Similarly the price jump was observed in all the major types of houses in month of February 2017 compared to last year. The semi-detached average sale price was up by 27.6% i.e. $1,085,484, the average prices of townhouses were $671,234 up by 15.7% and prices of condo apartments jumped 18.2% to $515,424
In Greater Toronto Area a property took average of 13 days to sell during month of February 2017. The new listings were down by 12.5% and similarly the active listing were down by 50.5% compared to last year. Though the sales activity was up by 5.7% and so was the average sale price up by 27.7% translating to average sale price $857,983 for GTA.
In December 2016 the sales were up on year-over-year basis for the Toronto Real Estate Board market area.
The average selling price at $730,472 was up by 20 per cent on a year-over-year basis. The overall sales activity was up from 4917 to 5338 that is 8.6% up compared to last year
Home buying activity remained strong across all market segments in December 2016.
Greater Toronto Area Stats
Active Listing down by 48.1%
New listing down by 11.7%
It took an average of 20 Days for a home to sell in December 2016
Average prices in Toronto
Detached – $1,286,605 – up by 23.7%
Semi-detached – $808,920 – up by 8.4%
Townhouse – $662,959 – up by 23.5%
Condo apartment – $466,592 – up by 16.6%
Here is the graphical snapshot of above number