The Toronto Real Estate Board reported 6,357 home sales in August 2017. This result was down by 34.8% compared to August 2016. There were 11,523 new listings in August, down by 6.7% year-over-year and was at the lowest level for August since 2010. Recent reports suggest that economic conditions remain strong in the GTA. Positive economic news coupled with the slower pace of price growth we are now experiencing could prompt an improvement in the demand for ownership housing, over and above the regular seasonal bump, as we move through the fall. The average selling price for all home types combined was $732,292 – up ...
August Resale Stats Released
September 10, 2017Market Reports Toronto Condo Buyers Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto Condo Sellers Toronto Real Estate News
Average Price of a Toronto Condo Cracks $500,000
August 20, 2017
The condo is continuing its ascent of the Toronto area real estate market with the average price of resale apartments cracking the $500,000 barrier in the second quarter this year. The average condo cost $532,032 — 28.1% higher than the second quarter last year, according to the Toronto Real Estate Board. In Toronto, which accounted for 72% of second quarter condo sales, the average price was $566,513. Prices climbed as sales dropped 8% in the same period and the number of listings increased less than 1%. Their relative affordability makes condos attractive to many households, especially first-time buyers. Even with fewer sales of ...
Mid-August Resale Figures Released
August 18, 2017Market Reports Toronto Condo Buyers Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto Condo Sellers Toronto Real Estate News
The Toronto Real Estate Board reported 2,706 sales for the first 14 days of August 2017. This result was down by 35.6% compared to the first 14 days of August 2016. Over the same period of time, the number of new listings was down by 10% on a year-over-year basis. New listings were down in the City of Toronto and the surrounding regions making up the GTA. The average selling price during the first two weeks of August, at $731,614, was up 3% compared to the same period in 2016. Overall average price growth was driven by the condominium apartment and semi-detached market segments, which ...
Market Continued to Adjust in July
August 7, 2017Market Reports Toronto Condo Buyers Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto Condo Sellers Toronto Real Estate News
The Toronto Real Estate Board reported 5,921 residential transactions in July 2017. This result was down by 40.4% on a year-over-year basis, led by the detached market segment – both in the City of Toronto and surrounding regions. While sales were down, the number of new listings reported were only slightly (+5.1%) above last year's level. A recent release from the Ontario government confirmed TREB's own research which found that foreign buyers represented a small proportion of overall home buying activity in the GTA. Clearly, the year-over-year decline we experienced in July had more to do with psychology, with would-be home ...
Strong Growth in Average Rents in Q2
July 28, 2017Investing in Real Estate Market Reports Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto Real Estate News
The Toronto Real Estate Board announced the continuation of very tight conditions in the condominium apartment rental market in the second quarter of 2017. The number of rental transactions reported remained in line with Q2 2016, levels while the number of units listed at some point during the quarter declined year-over-year. Average annual rates of rent growth for one and two bedroom condos were over 8%. The Greater Toronto Area continues to be a very attractive place to live for many people, some of whom choose to rent. While rental demand remained very strong from a historic perspective in the second quarter, the supply of ...
Average Condo Price Up Year-Over-Year in Q2
July 26, 2017
The Toronto Real Estate Board reported 8,223 condominium apartment sales between April and the end of June. This result was down by 8% compared to 8,942 sales reported in Q2 2016. New listings of condominium apartments were up slightly on a year-over-year basis by 0.7% to 13,682. Despite the recent dip in overall GTA home sales, the condo market was quite resilient, especially when compared to low-rise market segments. Condo sales accounted for a greater share of overall transactions during the spring compared to the same period last year. Market conditions also remained tight, which resulted in the continuation of strong annual rates of price ...
July 2017 Mid-Month Resale Figures Released
July 20, 2017
The Toronto Real Estate Board reported 2,670 residential transactions for the first 14 days of July 2017. This result was up down 39.3% compared to the same period in 2016. The greatest year-over-year decline in sales was noted for the detached market segment. The lowest annual rate of decline was noted for the condominium apartment market segment. The number of new listings entered into the system was up by 6.5% year-over-year. While still up compared to last year, the annual rate of growth for new listings has declined markedly, from over 40% in mid-May, and over 20% in mid-June, to less than 7% in mid-July. With ...
More Moderate Price Growth in June
July 6, 2017
The Toronto Real Estate Board reported 7,974 sales through in June 2017 – down by 37.3% in comparison to June 2016. There were 19,614 new residential listings, up 15.9% compared to June 2016. While this annual rate of growth was sizeable, it represented a more moderate annual rate of growth compared to May 2017, when new listings were up by 48.9% year-over-year. Annual growth rates for MLS® HPI benchmark prices have moderated over the past two months, but remain strong. The MLS® HPI composite benchmark price was up by 25.3% on a year-over-year basis in June. June’s average selling price for all home types combined for the ...
Mid-June Resale Figures Released
June 20, 2017
The Toronto Real Estate Board reported 2,999 transactions for the first 14 days of June 2017. This result was down by 50% in comparison to the same time period in June 2016. The decline in sales was greatest for detached houses followed by other low-rise home types. The number of new listings through the first two weeks of June was up on a year-over-year basis to 9,988 – a 22% increase compared to the same time period in 2016. It is worth noting, however, that the annual growth rate for new listings did moderate compared to May. Growth in new listings was much ...
Active Listings Increase in May
June 5, 2017
The Toronto Real Estate Board reported 10,196 sales for May 2017 – down by 20.3% compared to 12,790 sales reported in May 2016. Sales of detached homes were down by 26.3%. Sales of condominium apartments were down by 6.4%. Active listings – the number of properties available for sale at the end of May – were up by 42.9% compared to the lowest level in 15 years recorded in May 2016, but remained below the average and peak during that period. The number increased considerably for low-rise home types including detached and semi-detached houses and townhouses. Active listings for condominium apartments were down ...