The Toronto Real Estate Board reported 7,118 residential sales in October 2017. This result represented an above-average increase between September and October of almost 12%, pointing to stronger fall market conditions. On a year-over-year basis, October sales were down compared to 9,715 transactions in October 2016. Total sales reported through the first 10 months of 2017 amounted to 80,198 – down from 99,233 for the same time period in 2016. Every year we generally see a jump in sales between September and October. However, this year that increase was more pronounced than usual compared to the previous ten years. So, while the ...
October Resale Market Figures Released
November 3, 2017Market Reports Toronto Condo Buyers Toronto Condo Information Toronto Condo Market News Toronto Condo News Toronto Condo Sellers Toronto Real Estate News
Competition Between Renters Remains Strong in Q3
October 29, 2017Market Reports Toronto Condo Information Toronto Condo News Toronto Real Estate News Toronto Rental Market
Toronto Real Estate Board announced that year-over-year increases in average rents for condominium apartments were up very strongly in the third quarter. The average rent for one-bedroom condominium apartments in the TREB market area was up by 11.2% on an annual basis to $1,976 in Q3 2017. The average two-bedroom condominium apartment rent was up by 7.7% over the same period to $2,607. Competition between renters remained very strong for available units in Q3. It is clear that supply is part of the issue. The number of condominium apartments listed during the third quarter and the number of rental agreements signed were ...
Condo Market Conditions Remain Tight in Q3
October 28, 2017Downtown Toronto Condos Market 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 continued average price growth on a year-over-year basis for Toronto condos and lofts. The average selling price was $510,206 in Q3 2017 – up by 22.7% compared to the average of $415,894 reported in Q3 2016. The Toronoto condo and loft market segment has exhibited the strongest average rates of price growth since the spring, relative to other major market segments. Competition between buyers remains strong, as listings remain below last year’s very constrained levels. The condo and loft market is not immune to a listings shortage. There were 5,684 condo and loft sales reported in the third quarter ...
September Resale Market Figures Released
October 6, 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 6,379 sales in September 2017. This result was down by 35% compared to September 2016. The number of new listings entered into TREB’s MLS® System amounted to 16,469 in September – up by 9.4% year-over-year. The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall. The average selling price in September 2017 was $775,546 – up 2.6% cent compared to September 2016. The MLS® Home Price Index (HPI) composite benchmark was up by 12.2% on a year-over-year basis. A key reason ...
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
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 ...
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, 2017
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, 2017
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 ...