DECEMBER MARKET FIGURES FOR ESTIMATING PRICES - '2020'
According to the Toronto Real Estate board (TREB) analysis,
They have released DECEMBER MARKET FIGURES AS REPORTED BY GTA REALTORS
TREB is Canada’s largest real estate board. Over 54,500 residential and commercial TREB Members serve consumers in the Greater Toronto Area.
Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing
Service®.
January 7, 2020 - Toronto Real Estate Board President Michael Collins reported
that December 2019 residential sales reported through TREB’s MLS® System by Greater
Toronto Area REALTORS® were up by 17.4 per cent year-over-year to 4,399. Total sales for
calendar year 2019 amounted to 87,825 – up by 12.6 per cent compared to the decade low
78,015 sales reported in 2018. On an annual basis, 2019 sales were in line with the median
annual sales result for the past decade.
“We certainly saw a recovery in sales activity in 2019, particularly in the second half of the
year. As anticipated, many home buyers who were initially on the sidelines moved back into
the market place starting in the spring. Buyer confidence was buoyed by a strong regional
economy and declining contract mortgage rates over the course of the year,” said Mr. Collins.
While sales were up in 2019, the number of new listings entered into TREB’s MLS® System
was down by 2.4 per cent year-over-year. For the past decade, annual new listings have been
largely in a holding pattern between 150,000 and 160,000, despite the upward trend in home
prices over the same period.
“Over the last ten years, TREB has been drawing attention to the housing supply issue in the
GTA. Increasingly, policy makers, research groups of varying scope and other interested
parties have acknowledged that the lack of a diverse supply of ownership and rental housing
continues to hamper housing affordability in the GTA. Taking 2019 as an example, we
experienced a strong sales increase up against a decline in supply. Tighter market conditions
translated into accelerating price growth. Expect further acceleration in 2020 if there is no
relief on the supply front,” said Jason Mercer, TREB’s Chief Market Analyst.
The MLS® Home Price Index Composite Benchmark was up by 7.3 per cent on a year-overyear basis in December 2019. From June 2019 onward, the annual growth rate in the MLS®
HPI Composite Benchmark accelerated. The average selling price in December 2019 was
$837,788 – up almost 12 per cent year-over-year. For calendar year 2019, the average selling
price was $819,319 – up by four per cent compared to $787,856 in 2018.
“TREB is committed to conducting and sponsoring evidence-based, empirical research on
housing market and broader regional economic issues. We share this research in order to
contribute to the policy debate. On February 6, 2020, TREB will be releasing its Market Year
in Review and Outlook report, which will contain consumer polling results, market overviews
and forecasts, and new third-party research on housing and the economy in the GTA,” said
TREB CEO John DiMichele.
RESIDENTIAL - COMMERCIAL
STAY IN TOUCH with the Real Estate EXPERT of YOUR AREA! - Ayesha Khalid
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Regards,
AYESHA KHALID
Realtor
Multi-Award Winner
Bronze Award (2018)
HOMELIFE/MIRACLE REALTY LTD, BROKERAGE
Dir: 647-405-3722 Office: 905-455-5100
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