TREB Releases Monthly Market Figures For December 2018

  1/4/2019 |   SHARE
Posted in GTA Real Estate by Kit Blott| Back to Main Blog Page

TREB News

Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported a total of 77,426 residential transactions through TREB's MLS® System in 2018.  This result represented a 16.1 per cent decline compared to 92,263 sales reported in 2017.  Total new listings entered into TREB's MLS® System were down by 12.7 per cent over the same period to 155,823.

The overall average selling price for 2018 transactions, at $787,300, was down by 4.3 per cent year-over-year for all home types combined across the TREB market area.

Home prices were up very slightly in the City of Toronto and down in the surrounding GTA regions.  This dichotomy reflects the fact that the condominium apartment segment, which accounted for a large proportion of sales in the City of Toronto, performed better from a pricing perspective than the detached market segment.  The average price for condominium apartment sales across the TREB market area was up by 7.8 per cent year-over-year.

"Higher borrowing costs coupled with the new mortgage stress test certainly prompted some households to temporarily move to the sidelines to reassess their housing options.  With this said, it is important to note that market conditions were improved in the second half of the year, both from a sales and pricing standpoint," said Garry Bhaura, TREB President.

"After spiking in 2017, new listings receded markedly in 2018.  In many neighbourhoods, despite fewer sales from a historic perspective, some buyers still struggled to find a home meeting their needs.  The result was a resumption of a moderate year-over-year pace of home price growth in the second half of the year.  Price growth was strongest for less-expensive home types, as many home buyers sought more affordable home ownership options," said Jason Mercer, TREB's Director of Market Analysis and Service Channels.

On February 6, TREB will be releasing its fourth annual Market Year-in-Review and Outlook Report.  The report will feature the latest results from the Ipsos surveys of existing home owners and intending home buyers.  The surveys will cover off home buying intentions, impacts of recent government policy decisions, interesting information on investment property ownership, renovation spending and mortgage trends.  The report will also contain information on the new home and commercial real estate markets.  New research on mid-density housing by the Ryerson Centre for Urban Research and Land Development and a study on transit-supportive development by the Pembina Institute will also be presented.

 

Summary of TREB MLS®  Sales and Average Price December 1 - 31, 2018

 

2018

2017

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,473

762,627

1,426

1,953

740,721

2,133

Rest of GTA ("905")

2,308

742,237

2,882

2,923

730,922

4,156

GTA

3,781

750,180

4,308

4,876

734,847

6,289

 

TREB MLS® Sales & Average Price  By Home Type December 1 - 31, 2018

 

Sales

Average Price

 

416

905

Total

416

905

Total

             

Detached

340

1,250

1,590

1,145,892

891,095

945,580

Yr./Yr. % Change

-24.1%

-14.8%

-17.0%

-8.0%

-2.2%

-4.4%

Semi-Detached

116

226

342

939,859

661,186

755,707

Yr./Yr. % Change

-32.6%

-26.6%

-28.8%

4.0%

3.9%

3.2%

Townhouse

162

455

617

714,456

591,851

624,042

Yr./Yr. % Change

-18.2%

-31.1%

-28.1%

10.0%

2.9%

5.3%

Condo Apartment

848

337

1,185

594,381

454,135

554,497

Yr./Yr. % Change

-23.9%

-21.8%

-23.4%

11.4%

5.8%

9.9%

 

Seasonally Adjusted TREB MLS® Sales and Average Price¹

 
         

 

Sales

Month-over-Month % Chg.

Average Price

Month-over-Month % Chg.

December '17

8,690

11.8%

$783,611

0.8%

January '18

6,660

-23.4%

$769,509

-1.8%

February '18

6,100

-8.4%

$746,897

-2.9%

March '18

6,040

-1.0%

$752,402

0.7%

April '18

5,916

-2.1%

$752,203

0.0%

May '18

5,684

-3.9%

$762,728

1.4%

June '18

6,554

15.3%

$786,914

3.2%

July '18

6,917

5.5%

$808,044

2.7%

August '18

6,986

1.0%

$805,637

-0.3%

September '18

6,945

-0.6%

$802,976

-0.3%

October '18

6,844

-1.5%

$808,794

0.7%

November '18

6,615

-3.3%

$804,725

-0.5%

December '18

6,649

0.5%

$796,813

-1.0%

December 2018 Year-Over-Year Per Cent Change in the MLS® HPI

 

Composite (All Types)

Single-Family Detached

Single-Family Attached

Townhouse

Apartment

TREB Total

2.98%

0.16%

1.85%

3.97%

8.96%

Halton Region

3.06%

3.01%

3.88%

3.24%

0.87%

Peel Region

4.05%

2.23%

3.56%

2.50%

10.79%

City of Toronto

6.41%

1.13%

3.93%

6.78%

10.21%

York Region

-3.50%

-4.72%

-4.00%

-2.20%

4.52%

Durham Region

0.52%

0.22%

1.82%

2.71%

-0.86%

Orangeville

5.03%

5.05%

4.59%

-

-

South Simcoe County1

-0.50%

-0.55%

-0.49%

-

-

1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

 

Annual Summary of TREB MLS® Sales and Average Price

 

 

Year-to-Date

 

 

2018

2017

 

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

City of Toronto ("416")

29,863

835,422

51,599

35,148

834,250

59,505

 

Rest of GTA ("905")

47,563

757,086

104,224

57,115

815,386

118,906

 

GTA

77,426

787,300

155,823

92,263

822,572

178,411

 

                         

Annual TREB MLS® Sales & Average Price  By Home Type

 

Calendar Year 2018

 

Sales

Average Price

 

416

905

Total

416

905

Total

             

Detached

7,906

25,631

33,537

1,320,333

913,668

1,009,535

Yr./Yr. % Change

-16.3%

-19.4%

-18.7%

-7.1%

-8.9%

-8.1%

Semi-Detached

2,569

4,639

7,208

1,001,438

658,579

780,777

Yr./Yr. % Change

-11.5%

-15.9%

-14.4%

1.0%

-2.2%

-0.3%

Townhouse

2,899

9,728

12,627

741,437

606,860

637,757

Yr./Yr. % Change

-11.2%

-11.7%

-11.5%

2.7%

-2.1%

-0.9%

Condo Apartment

16,296

6,554

22,850

593,366

450,620

552,423

Yr./Yr. % Change

-15.4%

-13.5%

-14.9%

8.7%

5.4%

7.8%

 

Source: Toronto Real Estate Board; CREA Seasonal Adjustment

1 Preliminary seasonal adjustment undertaken by the Canadian Real Estate Association (CREA).  Removing normal seasonal variations allows for more meaningful analysis of monthly changes and underlying trends.

A TREB Primer on Seasonality and Seasonal Adjustment: click here

Source: TREB



Condo Prices Toronto, Condo Sales Toronto, Home Sales Toronto, House Prices Toronto, Toronto Condo Market, Toronto Housing, Toronto Residential, TREB



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