TREB Releases Monthly Resale Housing Figures As Reported By GTA REALTORS

  8/3/2018 |   SHARE
Posted in Toronto Real Estate by Forest Hill Real Estate CENTRAL| Back to Main Blog Page

TREB News

Toronto Real Estate Board President Garry Bhaura announced strong growth in the number of home sales and the average selling price reported by Greater Toronto Area REALTORS® in July 2018.

"Home sales result in substantial spin-off benefits to the economy, so the positive results over the last two months are encouraging.  However, no one will argue that housing supply remains an issue.  The new provincial government and candidates for the upcoming municipal elections need to concentrate on policies focused on enhancing the supply of housing and reducing the upfront tax burden represented by land transfer taxes, province-wide and additionally in the City of Toronto," said Mr. Bhaura.

Residential sales reported through TREB's MLS® System for July 2018 amounted to 6,961 – up 18.6 per cent compared to July 2017.  Over the same period, the average selling price was up by 4.8 per cent to $782,129, including a moderate increase for detached home types.  New listings in July 2018 were down by 1.8 per cent year-over-year.

Preliminary seasonal adjustment pointed to strong month-over-month increases of 6.6 per cent and 3.1 per cent respectively for sales and average price.  Seasonally adjusted sales were at the highest level for 2018 and the seasonally adjusted average price reached the highest level since May 2017.

The MLS® Home Price Index (HPI) Composite Benchmark for July 2018 was down slightly compared to July 2017.  However, the annual growth rate looks to be trending toward positive territory in the near future.

"We have certainly experienced an increase in demand for ownership housing so far this summer.  It appears that some people who initially moved to the sidelines due to the psychological impact of the Fair Housing Plan and changes to mortgage lending guidelines have re-entered the market.  Home buyers in the GTA recognize that ownership housing is a quality long-term investment," said Jason Mercer, TREB's Director of Market Analysis.

 

Summary of TREB MLS®  Sales and Average Price

 

July 1 - 31, 2018

 

2018

2017

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

2,574

824,336

4,511

2,286

759,423

4,482

Rest of GTA ("905")

4,387

757,365

9,357

3,583

737,387

9,640

GTA

6,961

782,129

13,868

5,869

745,971

14,122

 

TREB MLS® Sales & Average Price  By Home Type

 

 

July 1 - 31, 2018

 

 

Sales

Average Price

 

 

416

905

Total

416

905

Total

 

             

 

Detached

672

2,390

3,062

1,350,700

907,347

1,004,647

 

Yr./Yr. % Change

22.0%

28.3%

26.8%

3.6%

-0.2%

0.5%

 

Semi-Detached

194

414

608

935,300

658,533

746,843

 

Yr./Yr. % Change

16.9%

1.7%

6.1%

7.4%

3.4%

6.0%

 

Townhouse

276

897

1,173

718,698

607,930

633,993

 

Yr./Yr. % Change

30.8%

19.4%

21.9%

1.5%

4.6%

4.1%

 

Condo Apartment

1,415

587

2,002

582,547

461,255

546,984

 

Yr./Yr. % Change

5.8%

19.1%

9.4%

9.2%

10.3%

8.9%

 

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

 

Composite (All Types)

Single-Family Detached

Single-Family Attached

Townhouse

Apartment

TREB Total

-0.59%

-4.15%

-1.58%

-1.53%

8.33%

Halton Region

1.95%

0.43%

4.74%

2.43%

4.62%

Peel Region

0.49%

-0.70%

0.82%

-2.38%

5.81%

City of Toronto

3.85%

-2.91%

0.34%

0.31%

10.15%

York Region

-9.06%

-10.52%

-9.63%

-9.95%

2.24%

Durham Region

-4.17%

-4.63%

-3.30%

-5.10%

0.42%

Orangeville

1.34%

1.09%

1.30%

-

-

South Simcoe County¹

-6.47%

-6.60%

-3.44%

-

-

Source: Toronto Real Estate Board

       

¹ South 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")

17,961

837,379

31,771

22,415

863,222

38,357

 

Rest of GTA ("905")

28,873

758,616

66,685

37,939

852,811

76,754

 

GTA

46,834

788,822

98,456

60,354

856,677

115,111

 

Annual TREB MLS® Sales & Average Price  By Home Type

 

 

 

 

 

 

 

 

Year-to-Date 2018

 

Sales

Average Price

 

416

905

Total

416

905

Total

             

Detached

4,723

15,516

20,239

1,344,457

918,612

1,017,988

Yr./Yr. % Change

-23.9%

-28.3%

-27.3%

-10.1%

-12.4%

-11.4%

Semi-Detached

1,470

2,794

4,264

1,006,937

656,826

777,525

Yr./Yr. % Change

-15.9%

-21.3%

-19.5%

-2.9%

-5.5%

-3.8%

Townhouse

1,735

5,955

7,690

746,866

605,176

637,144

Yr./Yr. % Change

-15.0%

-14.7%

-14.7%

2.5%

-5.5%

-3.5%

Condo Apartment

9,922

3,983

13,905

589,237

449,115

549,100

Yr./Yr. % Change

-19.0%

-20.3%

-19.4%

8.2%

4.6%

7.4%

Source: Toronto Real Estate Board

           
                         

 

Seasonally Adjusted TREB MLS® Sales and Average Price¹

         

 

Sales

Month-over-Month % Chg.

Average Price

Month-over-Month % Chg.

July '17

6,056

-19.7%

$775,373

-5.4%

August '17

6,440

6.3%

$773,362

-0.3%

September '17

6,588

2.3%

$782,414

1.2%

October '17

6,765

2.7%

$786,238

0.5%

November '17

7,694

13.7%

$777,036

-1.2%

December '17

8,556

11.2%

$783,611

0.8%

January '18

6,527

-23.7%

$769,509

-1.8%

February '18

5,988

-8.3%

$746,897

-2.9%

March '18

5,941

-0.8%

$752,402

0.7%

April '18

5,868

-1.2%

$752,203

0.0%

May '18

5,673

-3.3%

$762,728

1.4%

June '18

6,623

16.7%

$784,340

2.8%

July '18

7,061

6.6%

$808,686

3.1%

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.



GTA Real Estate Market, Home Sales Toronto, House Prices Toronto, Toronto Real Estate, Toronto Residential, TREB