Toronto Real Estate Board Market Watch Reports – January 2019

GTA REALTORS® Release January Stats

February 6, 2019 – TREB President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December 2018.

“It is encouraging to see the slight increase in January transactions on a year-overyear basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in calendar year 2019,” said Mr. Bhaura.

The MLS® HPI Composite Benchmark price was up by 2.7 per cent compared to January 2018. The condominium apartment market segment continued to lead the way in terms of price growth. The average selling price was up by 1.7 per cent on a year-over-year basis. After preliminary seasonal adjustment, the average selling price edged lower compared to December 2018.

“Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered. Given housing affordability concerns in the GTA, especially as it relates to mortgage qualification standards, we have seen tighter market conditions and stronger price growth associated with higher density low-rise home types and condominium apartments, which have lower average selling prices compared to single detached homes,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

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Toronto Real Estate Board Marlet Year in Review & Outlook

This year’s report is all about envisioning housing options and supply for liveable communities.

In addition to sharing the latest Greater Toronto Area housing market and commercial real estate data, TREB worked with several of our partners, including Ipsos, Altus Group, the Pembina Institute, and Ryer-son University’s Centre for Urban Research and Land Development to contribute insightful research on this year’s key themes. Below is just a brief snapshot of the contents of this year’s report.

Recapping the Market in 2018

When it comes to the residential resale housing market, 2018 was a year of moderation and volatility in many ways. Sales and new listings were down on a year-over-year basis.

Average price was down in the firs half of the year, but started to recover in the second half of the year. Read more about the ups and downs of the market in 2018 on page 9. This section also features consumer survey research on recent home buyers from Ipsos….

This year’s report, subtitled Envisioning Housing Options & Supply for Livable Communities, explores some of the most important market issues affecting our industry today.