GTA Market Watch Outlook

Prepared by Luke Tao, Broker
Dcember10th, 2020


Highlights



  • Sales growth continued to be driven by freehold homes including detached, semi-detached houses and townhouses

  • Condominium apartment segment has experienced a slower growth compared to freehold homes in both sales and rental properties

  • Improving economic conditions and extremely low borrowing costs sustained record-level sales in September 2020



1. GTA Housing Market Analysis & Outlook for 2020


The record pace of home sales in the fall continued with 8,766 sales reported in November by GTA Area. This result was up by 24.3% compared to November of last year. The average selling price for all home types combined was up by 13.3% to $955,615.


Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the ‘416’ area code as well.  Home buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA, which has continued to support double-digit annual rates of price growth.


Market conditions tightened in many single-family market segments in November, resulting in double-digit year-over-year increases in average selling prices for detached houses, semi-detached houses and townhouses.


In contrast to the single-family market segments, buyers continued to benefit from much more choice in the condominium apartment market compared to last year, particularly in the City of Toronto. The number of new condominium apartment listings in November was almost double that reported in November of last year. More options in the condo apartment market translated into a small year-over-year decline in the average condominium apartment selling price in the ‘416’ area code.


The condominium apartment market is certainly more balanced than in previous years, with some buyers benefitting from lower selling prices compared to last year. However, this may be somewhat of a short-term phenomenon. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets.



 

For a review of the CMHC Market Outlook Report, please click here





 

Toronto Market Report Infographics

Monday, December 14, 2020 9:51:00 PM UTC
INFOGRAPHICS: November 2020 TRREB Toronto Market Reports
INFOGRAPHICS: November 2020 TRREB Toronto Market Reports

TRREB Reports Strong November Single-Family Home Resales in the GTA. Condo Market More Balanced With More Choice and Lower Selling Prices.

The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS® through the Toronto Regional Real Estate Board’s (TRREB) MLS® System. This result was up by 24.3% compared to November of last year.

Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the ‘416’ area code as well.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between November 2019 and November 2020 numbers, and is current as of December 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – November 2020 TRREB, Toronto Market Report

 

 

 

 

 

Read Full Article...
INFOGRAPHICS: October 2020 TRREB Toronto Market Reports
INFOGRAPHICS: October 2020 TRREB Toronto Market Reports

Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row.

Members made 10,563 sales as reported through the Toronto Regional Real Estate Board’s MLS® System in October 2020. This was up by 25.1% compared to 8,445 transactions in October 2019.

Sales and new listings reached record levels for the month of October. However, year-over-year growth rates for sales and new listings diverged in some market segments. In the detached market segment, the pace of annual sales growth far outstripped growth in new listings. Conversely, the condominium apartment market segment experienced more than double the new listings compared to October 2019, whereas sales were only up by 2.2% over the same period.

Read the full report on the TRREB website.

 

 


 

The following data is a comparison between October 2019 and October 2020 numbers, and is current as of November 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – October 2020 TRREB, Toronto Market Report

 

 

Read Full Article...
INFOGRAPHICS: September 2020 TRREB Toronto Market Reports
INFOGRAPHICS: September 2020 TRREB Toronto Market Reports

Toronto Regional Real Estate Board President Lisa Patel announced that sales reported through TRREB’s MLS® System by Greater Toronto Area REALTORS® amounted to 11,083 – a new record for the month of September. This result was up by 42.3% compared to September 2019.

Following a record third quarter, sales through the first nine months of 2020 were up by approximately one% compared to the same period in 2019.

Year-over-year sales growth in September continued to be driven by ground-oriented market segments, including detached and semi-detached houses and townhouses. Annual growth rates were also higher for sales reported in the GTA regions surrounding the City of Toronto.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between September 2019 and September 2020 numbers, and is current as of October 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – September 2020 TRREB, Toronto Market Report

 

 

 

 

Read Full Article...
INFOGRAPHICS: August 2020 TRREB Toronto Market Reports
INFOGRAPHICS: August 2020 TRREB Toronto Market Reports

Toronto Regional Real Estate Board (TRREB) President Lisa Patel announced that the strong rebound in Greater Toronto Area (GTA) home sales continued with a record result for the month of August.

GTA REALTORS® reported 10,775 residential sales through TRREB’s MLS® System in August 2020 – up by 40.3% compared to August 2019.

Sales were up on a year-over-year basis for all major home types, both in the City of Toronto and surrounding GTA regions. It should be noted that the low-rise market segments, including detached and semi-detached houses and townhouses, were the drivers of sales growth. Condominium apartment sales were up on an annual basis for the second straight month but to a lesser degree.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between August 2019 and August 2020 numbers, and is current as of September 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – August 2020 TRREB, Toronto Market Report

 

 

 

 

Read Full Article...
INFOGRAPHICS: July 2020 TRREB Toronto Market Reports
INFOGRAPHICS: July 2020 TRREB Toronto Market Reports

Toronto Regional Real Estate Board President Lisa Patel announces that Greater Toronto Area REALTORS® reported 11,081 sales through TRREB’s MLS® System in July 2020 – a 29.5% increase over July 2019 and a new record for the month of July. On a preliminary seasonally adjusted basis, sales were up by 49.5% compared to June 2020.

Year-over-year sales growth was driven by low-rise home types, particularly in the regions surrounding the City of Toronto. However, condominium apartment sales were also up on an annual basis, including in Toronto.

Total new listings were also up strongly on a year-over-year basis by 24.7%, but this annual growth rate was less than that of sales, which means market conditions tightened on average compared to July 2019. In addition, active listings at the end of July were down by 16.3%.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between July 2019 and July 2020 numbers, and is current as of August 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – July 2020 TRREB, Toronto Market Report

 

 

 

 

Read Full Article...
INFOGRAPHICS: June 2020 TRREB Toronto Market Reports
INFOGRAPHICS: June 2020 TRREB Toronto Market Reports

Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 8,701 sales through TRREB’s MLS® System in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89%) and seasonally adjusted basis (+84%), and was only down by 1.4% compared to June 2019.

Year-over-year growth in sales was reported in some areas and market segments. Especially notable were the detached and townhouse market segments in the GTA regions surrounding the City of Toronto.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between June 2019 and June 2020 numbers, and is current as of July 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – June 2020 TRREB, Toronto Market Report

 

 

 

 

Read Full Article...
INFOGRAPHICS: May 2020 TRREB Toronto Market Reports
INFOGRAPHICS: May 2020 TRREB Toronto Market Reports

Toronto Regional Real Estate Board President (TRREB) Michael Collins announced that Greater Toronto Area REALTORS® reported 4,606 sales through TRREB’s MLS® System in May 2020. This result was down by 53.7% compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1% year-over-year decline reported for April 2020.

On a month-over-month basis, actual and seasonally adjusted May sales were up substantially compared to April. Actual May 2020 sales increased by 55.2% compared to April 2020. After accounting for the regular seasonal increase that is experienced each year between April and May, seasonally adjusted sales were up by 53.2% month-over-month.

Read the full report on the TRREB website.

 

 


 

The following data is a comparison between May 2019 and May 2020 numbers, and is current as of June 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, On the other hand, a chance to build a loyal and engaged following on a comprehensive page on social media may take you to visiting Krootez for their know-hows of promotion. AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – May 2020 TRREB, Toronto Market Report

 

 

 

 

 

 

Read Full Article...
INFOGRAPHICS: April 2020 TRREB Toronto Market Reports
INFOGRAPHICS: April 2020 TRREB Toronto Market Reports

Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for April 2020.

Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System. This result was down by 67% compared to April 2019. Weekday sales remained within a relatively steady range during the month, averaging 130 per day. New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales (-64.1%).

Read the full report over on the TRREB website.

 

 


 

The following data is a comparison between April 2019 and April 2020 numbers, and is current as of May 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

Download Printable Version – April 2020 TRREB, Toronto Market Report

 

 

 

Read Full Article...
INFOGRAPHICS: March 2020 TRREB Toronto Market Reports
INFOGRAPHICS: March 2020 TRREB Toronto Market Reports

With the current situation, we hope that everyone is healthy and well. Here are the latest real estate market updates for areas covered by the Toronto Regional Real Estate Board (TRREB, formerly TREB)!

As noted in their latest reports, Toronto Regional Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,012 home sales through TRREB’s MLS® System in March 2020 – up by 12.3% compared to 7,132 sales reported in March 2019.

However, despite a strong increase in sales for March 2020 as a whole, there was a clear break in market activity between the pre-COVID-19 and post-COVID-19 periods. For the purposes of this release, the start of the post-COVID-19 period was the week beginning Sunday, March 15.

 

  • The overall March sales result was clearly driven by the first two weeks of the month. There were 4,643 sales reported in the pre-COVID-19 period, accounting for 58% of total transactions and representing a 49% increase compared to the first 14 days of March 2019.
  • There were 3,369 sales reported during the post-COVID-period – down by 15.9% compared to the same period in March 2019.

 

For March as a whole, new listings were up by 3% year-over-year to 14,424. However, similar to sales, new listings dropped on a year-over-year basis during the second half of the month (beginning March 15) by 18.4%.

The MLS® Home Price Index Composite Benchmark price was up by 11.1% year-over-year in March 2020. The average selling price for March 2020 as a whole was $902,680 – up 14.5% compared to March 2019. The average selling price for sales reported between March 15 and March 31, was $862,563 – down from the first half of March 2020, but still up by 10.5% compared to the same period last year.

It should also be noted that TRREB has issued a Frequently Asked Questions (FAQ) guidance to its 56,000 REALTOR® Members on the provincial shutdown, as it relates to trading in real estate. The key message is to avoid in-person business, such as open houses and showings with clients, during the provincial state of emergency. Geneva This will include home sellers, buyers, tenants and business clients. You can view the guide below.

 

 

 

 


 

The following data is a comparison between March 2019 and March 2020 numbers, and is current as of April 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – March 2020 TRREB, Toronto Market Report

TRREB COVID-19 Frequently Asked Questions Guidance

 

 

 

(Image Source: TRREB.ca)

 

 

 

Read Full Article...
INFOGRAPHICS: February 2020 TRREB Toronto Market Reports
INFOGRAPHICS: February 2020 TRREB Toronto Market Reports

Ready for the spring season? Here are the latest real estate market updates for areas covered by the Toronto Regional Real Estate Board (TRREB, formerly TREB)!

As noted in their latest press release, TRREB President Michael Collins announced a very strong year-over-year sales and price growth in February 2020.

Greater Toronto Area REALTORS® reported 7,256 residential transactions through TRREB’s MLS System in February 2020, representing a 45.6% increase compared to a 10-year sales low in February 2019. However, February 2020 sales were still below the 2017 record result. Year-over-year sales growth, for the GTA as a whole, was strongest for ground-oriented home types.

After preliminary seasonal adjustment, February 2020 sales also exhibited positive momentum, up by 14.8% compared to January 2020.

New listings amounted to 10,613 in February 2020, a 7.9% increase compared to February 2019. This moderate annual growth rate was much smaller than that reported for sales, which means market conditions tightened considerably over the past year.

As market conditions tightened over the past year, competition between buyers has clearly increased. This resulted in a further acceleration in year-over-year price growth in February. The MLS® Home Price Index Composite Benchmark was up by 10.2%. The average selling price for all home types combined was up by 16.7% to $910,290. Double-digit average price growth was experienced for most major market segments, including detached houses and condominium apartments.

 

 


 

The following data is a comparison between February 2019 and February 2020 numbers, and is current as of March 2020. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view!

(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – February 2020 TRREB, Toronto Market Report

 

 

 

(Image Source: TRREB.ca)

 

 

 

Read Full Article...