TREB Releasing Monthly Market Statistics for January 2019

  2/6/2019 |   SHARE
Posted in Toronto Real Estate by Marti Philp| Back to Main Blog Page

TREB News

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-over-year 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.

 

Summary of TREB MLS® Sales and Average Price January 1 - 31, 2019

   
 

2019

2018

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

1,422

777,674

3,144

1,509

767,394

2,769

Rest of GTA ("905")

2,587

732,197

6,312

2,478

716,679

5,792

GTA

4,009

748,328

9,456

3,987

735,874

8,561

 

TREB MLS® Sales & Average Price by Home Type January 1 - 31, 2019

   
 

Sales

Average Price

 

416

905

Total

416

905

Total

             

Detached

342

1,361

1,703

1,174,134

883,027

941,488

Yr./Yr. % Change

-8.6%

7.0%

3.5%

-8.8%

0.9%

-2.8%

Semi-Detached

91

248

339

993,465

650,737

742,738

Yr./Yr. % Change

-3.2%

-6.1%

-5.3%

6.1%

1.8%

3.6%

Townhouse

141

544

685

797,528

600,465

641,028

Yr./Yr. % Change

4.4%

2.1%

2.5%

12.3%

2.1%

4.6%

Condo Apartment

840

398

1,238

591,444

456,857

548,176

Yr./Yr. % Change

-6.3%

6.7%

-2.4%

8.8%

8.2%

7.9%

January 2019 Year-Over-Year Per Cent Change in the MLS® HPI

 

Composite (All Types)

Single-Family Detached

Single-Family Attached

Townhouse

Apartment

TREB Total

2.70%

-0.04%

2.26%

3.49%

8.04%

Halton Region

2.30%

3.09%

4.91%

0.32%

-4.76%

Peel Region

4.74%

2.44%

4.36%

2.94%

13.07%

City of Toronto

5.76%

0.77%

4.20%

5.82%

9.08%

York Region

-3.60%

-5.04%

-3.76%

-1.22%

4.40%

Durham Region

0.39%

-0.17%

1.18%

5.91%

-2.84%

Orangeville

2.62%

2.85%

1.52%

-

-

South Simcoe County¹

-2.14%

-2.17%

-1.90%

-

-

January 2019 Outlook Summary Table

   
 

2014

2015

2016

2017

2018

2019(F)

TREB MLS® System Average Price

92,782

101,213

113,040

92,264

77,375

83,000

TREB MLS® System Sales

$566,624

$622,121

$729,837

$822,587

$787,195

$820,000

 

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

A TREB Primer on Seasonality and Seasonal Adjustment: click here

Source: TREB



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