TREB Issued January, 2019 Market Stats

 

McCowan Rd Kingston Rd Homes

 

TREB Issued January, 2019 Market Stats

 

TREB President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December, 2018.

“It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in calendar year 2019,” said Mr. Bhaura.

 

The MLS® HPI Composite Benchmark price was up by 2.7 per cent compared to January 2018. The condominium apartment market segment continued to lead the way in terms of price growth. The average selling price was up by 1.7 per cent on a year-over-year basis. After preliminary seasonal adjustment, the average selling price edged lower compared to December 2018.

 

Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered. Given housing affordability concerns in the GTA, especially as it relates to mortgage qualification standards, we have seen tighter market conditions and stronger price growth associated with higher density low-rise home types and condominium apartments, which have lower average selling prices compared to single detached homes,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

 

Summary of TREB MLS® Sales and Average Price January 1 – 31, 2019
2019 2018
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto (“416”) 1,422 777,674 3,144 1,509 767,394 2,769
Rest of GTA (“905”) 2,587 732,197 6,312 2,478 716,679 5,792
GTA 4,009 748,328 9,456 3,987 735,874 8,561

 

 

 

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TREB MLS® Sales & Average Price by Home Type January 1 – 31, 2019

Sales Average Price
416 905 Total 416 905 Total
Detached 342 1,361 1,703 1,174,134 883,027 941,488
Yr./Yr. % Change -8.6% 7.0% 3.5% -8.8% 0.9% -2.8%
Semi-Detached 91 248 339 993,465 650,737 742,738
Yr./Yr. % Change -3.2% -6.1% -5.3% 6.1% 1.8% 3.6%
Townhouse 141 544 685 797,528 600,465 641,028
Yr./Yr. % Change 4.4% 2.1% 2.5% 12.3% 2.1% 4.6%
Condo Apartment 840 398 1,238 591,444 456,857 548,176
Yr./Yr. % Change -6.3% 6.7% -2.4% 8.8% 8.2% 7.9%

 

January 2019 Year-Over-Year Per Cent Change in the MLS® HPI
Composite (All Types) Single-Family Detached Single-Family Attached Townhouse Apartment
TREB Total 2.70% -0.04% 2.26% 3.49% 8.04%
Halton Region 2.30% 3.09% 4.91% 0.32% -4.76%
Peel Region 4.74% 2.44% 4.36% 2.94% 13.07%
City of Toronto 5.76% 0.77% 4.20% 5.82% 9.08%
York Region -3.60% -5.04% -3.76% -1.22% 4.40%
Durham Region 0.39% -0.17% 1.18% 5.91% -2.84%
Orangeville 2.62% 2.85% 1.52%
South Simcoe County1 -2.14% -2.17% -1.90%
Source: Toronto Real Estate Board
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

 

January 2019 Outlook Summary Table
2014 2015 2016 2017 2018 2019(F)
TREB MLS® System Sales 92,782 101,213 113,040 92,264 77,375 83,000
TREB MLS® System Average Price $566,624 $622,121 $729,837 $822,587 $787,195 $820,000

 

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TREB January, 2019 Market Analysis Video

 

Source: Toronto Real Estate Board

 

Thinking to sell your house or Condo in Central Toronto areas and/or in downtown Toronto areas? Please call, text or email Max Seal, Broker at 647-294-1177. Please visit http://www.TorontoHomesMax.com for a FREE  Home Evaluation“.

 

Thinking to buy a House or Condo in Central Toronto areas and/or in Downtown Toronto areas? please call or text Max Seal, Broker at 647-294-1177 to buy your dream home or Condo. I offer you a 30-min “FREE buyer’s consultation” with NO obligation. 

Please visit my website http://www.centraltorontorealestate.com/ to find out available homes and Condos for sale in Central Toronto areas and/or in downtown Toronto areas.

 

This Toronto housing market may be a better time for “Move-up”, “Move-down” or “Empty-nester” Sellers and Buyers. Want a “Market Update” of your home in 2018? Please click the image below or call or text Max Seal, Broker at 647-294-1177 or send an email.

 

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