2017 - TREB Monthly Stats

November 2017 Toronto Real Estate Stats

Market News -GTA REALTORS® Release November 2017 Stats

Posted on Dec. 6, 2017 in TorontoRealtorsTeam.com

Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,374 transactions through TREB’s MLS® System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend. On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016. New listings entered into TREB’s MLS® System in November 2017 amounted to 14,349 – up by 37.2 per cent compared to November 2016, when the supply of listings was very low from a historic perspective. “We have seen an uptick in demand for ownership housing in the GTA this fall, over and above the regular seasonal trend. Similar to the Greater Vancouver experience, the impact of the Ontario Fair Housing Plan and particularly the foreign buyer tax may be starting to wane. On top of this, it is also possible that the upcoming changes to mortgage lending guidelines, which come into effect in January, have prompted some households to speed up their home buying decision,” said Mr. Syrianos.

Source: www.trebhome.com
 

October Toronto Real Estate Stats

Market News -GTA REALTORS® Release October 2017 Stats

Posted on Nov. 2, 2017 in TorontoRealtorsTeam.com

TORONTO, ONTARIO, November 2, 2017 -- Toronto Real Estate Board President Tim Syrianos reported 7,118 residential sales through TREB's MLS® System in October 2017. This result represented an above-average increase between September and October of almost 12 per cent, pointing to stronger fall market conditions.

On a year-over-year basis, October sales were down compared to 9,715 transactions in September 2016. Total sales reported through the first 10 months of 2017 amounted to 80,198 – down from 99,233 for the same time period in 2016.

"Every year we generally see a jump in sales between September and October. However, this year that increase was more pronounced than usual compared to the previous ten years. So, while the number of transactions was still down relative to last year's record pace, it certainly does appear that sales momentum is picking up," said Mr. Syrianos.

The MLS® Home Price Index Composite benchmark price was up by 9.7 per cent on a year-over-year basis in October. Annual rates of price growth were strongest for townhouses and condominium apartments. The average selling price for October transactions was $780,104 – up by 2.3 per cent compared to the average of $762,691 in October 2016.

"The housing market in the GTA has been impacted by a number of policy changes at the provincial and federal levels. Similar to the track followed in the Greater Vancouver Area, it appears that the psychological impact of the Fair Housing Plan, including the tax on foreign buyers, is starting to unwind," said Jason Mercer, TREB's Director of Market Analysis.

Source: www.trebhome.com

Market News -GTA REALTORS® Release September Stats

September 2017  Toronto Real Estate Stats

Treb releases monthly stats

Posted on Oct. 4, 2017 in TorontoRealtorsTeam.com

TORONTO, ONTARIO, October 4, 2017 – Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 6,379 sales through TREB’s MLS® System in September 2017. This result was down by 35 per cent compared to September 2016. The number of new listings entered into TREB’s MLS® System amounted to 16,469 in September – up by 9.4 per cent year-over-year. “The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall. Consumer polling undertaken for TREB in the spring suggested that buying intentions over the next year remain strong. As we move through the fourth quarter we could see some buyers moving off the sidelines, taking advantage of a better-supplied marketplace,” said Mr. Syrianos. The average selling price in September 2017 was $775,546 – up 2.6 per cent compared to September 2016. The MLS® Home Price Index (HPI) composite benchmark was up by 12.2 per cent on a year-over-year basis. A key reason for the difference in annual growth rates between the average price and the MLS® HPI composite is the fact that detached homes – the most expensive market segment on average – accounted for a smaller share of overall transactions this year compared to last. “With more balanced market conditions, the pace of year-over-year price growth was more moderate in September compared to a year ago. However, the exception was the condominium apartment market segment, where average and benchmark sales prices were up by more than 20 per cent compared to last year. Tighter market conditions for condominium apartments follows consumer polling results from the spring that pointed toward a shift to condos in terms of buyer intentions,” said Jason Mercer, TREB’s Director of Market Analysis
Source: www.trebhome.com