TREB’s 2017/2018 Annual Report & Video – Snapshots of a Year in Review

The release of the report is bolstered by our 2017/2018 Year in Review video, which highlights some of the key achievements of the past year and features exciting interviews with 2017/2018 President Tim Syrianos as well as TREB CEO John DiMichele. 

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The Toronto Real Estate Board has a strong team that drives the organization forward each year through discussing and delivering quality tools and services to our Members.

This year, TREB was led by your 2017/2018 Board of Directors, an elected group of 16 dedicated volunteers who directly shape the future of your Association.
Your Board meets monthly to discuss initiatives brought forward from the committee level or from staff and also brings fresh ideas to the table for discussion. See your 2017/2018 Board of Directors on page 7.

Each Board Director chairs a committee, task force or roster. Every year, close to 200 Members volunteer to serve on these groups and engage in high-level discussions on the services TREB offers, sharing their feedback from the Member perspective and driving the organization forward. See this year’s volunteers on page 8.

You can also read messages from 2017/2018 President Tim Syrianos and TREB’s CEO John DiMichele on some of their favourite moments of the past year. Read about the accomplishments they’re proudest of on pages 5 and 6.
Whether you answered a TREB survey, voted for your TREB Board of Directors,served on a committee, task force or roster, or are a TREB Board Director yourself, we’d like to thank YOU for making this year a big success!

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Toronto Real Estate Board Market Watch Reports – September 2018

October 3, 2018 – Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB’s MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year.

New listings entered into TREB’s MLS® System in September 2018 amounted to 15,920 – down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs.

“It is healthy to see sales and prices in many areas across the Greater Toronto Area up a bit, compared to last year’s lows. At the same, however, it is important to remember that TREB’s market area is made up of over 500 communities. Market conditions have obviously unfolded differently across these communities. This is why it’s important to work with a REALTOR® who is familiar with local market conditions in your areas of interest,” said Mr. Bhaura.

“While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment. As the GTA population continues to grow, the real challenge in the housing market will be supply rather than demand. The Toronto Real Estate Board is especially concerned with issues affecting housing supply as we move towards municipal elections across the region,” added Mr. Bhaura.

On a monthly basis, after preliminary seasonal adjustment, sales edged up by 0.2 per cent in September 2018 compared to August 2018. The average selling price, after preliminary seasonal adjustment, edged lower by 0.5 per cent month-over-month.

“Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condominium apartments, townhouses and semi-detached houses. In many neighbourhoods, these home types provide more affordable home ownership options. This is why a policy focus on increasing mid-density housing options throughout the GTA is important,” said Jason Mercer, TREB’s Director of Market Analysis.

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