MARKET REPORT

Here are the latest stats for the APRIL 2018 Toronto Real Estate Market.

  • TORONTO REAL ESTATE BOARD (TREB) APRIL 2018 MARKET WATCH:

TREB APRIL 2018 - MARKET WATCH - COVER PG

TREB’S APRIL 2018 “MARKET WATCH” REPORT

 

  • TORONTO REAL ESTATE BOARD (TREB) APRIL 2018 “MARKET WATCH” VIDEO:

TREB MARKET WATCH - VIDEO COVER PG - APRIL 2018

TREB’S APRIL 2018 “MARKET WATCH” VIDEO REPORT

 

  • TORONTO REAL ESTATE BOARD (TREB) APRIL 2018 PRESS RELEASE:

TORONTO, May 3, 2018 — Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB’s MLS® System in April 2018.  The average selling price was $804,584.  On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent.

The year-over-year change in the overall average selling price has been impacted by both changes in market conditions as well as changes in the type and price point of homes being purchased.  This is especially clear at the higher end of the market.  Detached home sales for $2 million or more accounted for 5.5 per cent of total detached sales in April 2018, versus 10 per cent in April 2017.  The MLS® Home Price Index strips out the impact of changes in the mix of home sales from one year to the next.  This is why the MLS® HPI Composite Benchmark was down by only 5.2 per cent year-over-year versus 12.4 per cent for the average price.

“While average selling prices have not climbed back to last year’s record peak, April’s price level represents a substantial gain over the past decade. Recent polling conducted for TREB by Ipsos tells us that the great majority of buyers are purchasing a home within which to live. This means these buyers are treating home ownership as a long-term investment. A strong and diverse labour market and continued population growth based on immigration should continue to underpin long-term home price appreciation,” said Mr. Syrianos.

After preliminary seasonal adjustment1, the month-over-month change (i.e. March 2018 to April 2018) in sales and the average selling price was minimal, with sales decreasing 1.6 per cent and the average selling price decreasing by 0.2 per cent.  The month-over-month sales trend has flattened out over the past two months following a steeper drop-off in January and February.

“The comparison of this year’s sales and price figures to last year’s record peak masks the fact that market conditions should support moderate increases in home prices as we move through the second half of the year, particularly for condominium apartments and higher density low-rise home types.  Once we are past the current policy-based volatility, home owners should expect to see the resumption of a moderate and sustained pace of price growth in line with a strong local economy and steady population growth,” said Jason Mercer, TREB’s Director of Market Analysis.

Provincial Election Candidates Should Make Housing Issues a Top Priority

With a provincial election campaign about to begin, GTA REALTORS® hope that all of the provincial parties will make housing issues a priority. Home ownership is a worthwhile investment that benefits our economy, individual finances and quality of life,” said Mr. Syrianos

“In recent months and years, there has been significant intervention in housing markets by all levels of government, through regulatory changes and taxation. We believe the next step should be tax relief, especially from Land Transfer Taxes, both provincial and the Toronto Land Transfer Tax, and efforts to facilitate an increase in the supply of missing middle housing that fills the gap between single family homes and high rises. Furthermore, we believe that any attempt to increase the Toronto Land Transfer Tax should require approval from the provincial government, given the significance of Toronto’s economy to the Province and the connections between the Toronto real estate market and that of the broader GTA,” added Syrianos.

Notes:

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.

Summary of TREB MLS®  Sales and Average Price April 1 – 30, 2018
2018 2017
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto (“416”) 2,946 865,817 5,299 4,124 942,677 6,990
Rest of GTA (“905”) 4,846 767,359 10,974 7,344 904,429 14,581
GTA 7,792 804,584 16,273 11,468 918,184 21,571
TREB MLS® Sales & Average Price  By Home Type April 1 – 30, 2018  
Sales Average Price  
416 905 Total 416 905 Total  
 
Detached 819 2,632 3,451 1,354,719 929,092 1,030,103  
Yr./Yr. % Change -34.3% -39.6% -38.4% -14.3% -15.2% -14.4%  
Semi-Detached 265 449 714 1,021,986 656,874 792,385  
Yr./Yr. % Change -16.4% -35.2% -29.3% -7.8% -9.6% -6.4%  
Townhouse 277 1,010 1,287 792,180 604,853 645,172  
Yr./Yr. % Change -26.5% -20.8% -22.1% 0.2% -10.1% -7.8%  
Condo Apartment 1,574 644 2,218 601,211 457,014 559,343  
Yr./Yr. % Change -26.4% -24.9% -26.0% 3.8% 1.6% 3.2%  
April 2018 Year-Over-Year Per Cent Change in the MLS® HPI  
  Composite (All Types) Single-Family Detached Single-Family Attached Townhouse Apartment  
TREB Total -5.15% -10.34% -8.82% -2.62% 10.17%  
Halton Region -5.07% -7.01% -6.28% -2.94% 5.87%  
Peel Region -5.63% -8.32% -7.77% -5.14% 5.97%  
City of Toronto 1.55% -9.55% -4.53% 3.67% 12.35%  
York Region -14.54% -16.68% -17.02% -8.95% 4.94%  
Durham Region -7.25% -7.53% -7.58% -8.22% 1.14%  
Orangeville 4.40% 4.29% 2.87%  
South Simcoe County1 -10.99% -12.06% -6.04%  
Source: Toronto Real Estate Board ,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”) 9,258 822,427 15,868 13,125 878,760 19,160  
Rest of GTA (“905”) 14,895 752,656 34,288 23,405 891,501 36,504  
GTA 24,153 779,400 50,156 36,530 886,923 55,664  

FOR ALL YOUR REAL ESTATE NEEDS, CONTACT:

SHAWN VENASSESales Representative
Elli Davis Homes
Royal LePage Real Estate Services Ltd., Brokerage
55 St. Clair Avenue West, Toronto, ON  M4V 2Y7

416-921-1112 office
416-670-7042 mobile
shawn@ellidavis.com

www.ellidavis.com
www.shawnvenasse.com

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