Despite 2018 Sales Drop by 16.1%, New Listings down 12.7%, Avg. Selling Price down 4.3%, Home Prices higher in Toronto than rest of GTA & Condo Prices were up by 7.8%
Friday Jan 04th, 2019
January 4, 2019 --Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported a total of 77,426 residential transactions through TREB's MLS® System in 2018. This result represented a 16.1% decline compared to 92,263 sales reported in 2017. Total new listings entered into TREB's MLS® System were down by 12.7% over the same period to 155,823.
The overall average selling price for 2018 transactions, at $787,300, was down by 4.3 per cent year-over-year for all home types combined across the TREB market area.
Home prices were up very slightly in the City of Toronto and down in the surrounding GTA regions. This dichotomy reflects the fact that the condominium apartment segment, which accounted for a large proportion of sales in the City of Toronto, performed better from a pricing perspective than the detached market segment. The average price for condominium apartment sales across the TREB market area was up by 7.8% year-over-year.
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Summary of TREB MLS® Sales and Average Price December 1 - 31, 2018 |
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2018 |
2017 |
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Sales |
Average Price |
New Listings |
Sales |
Average Price |
New Listings |
|
|
City of Toronto ("416") |
1,473 |
762,627 |
1,426 |
1,953 |
740,721 |
2,133 |
|
Rest of GTA ("905") |
2,308 |
742,237 |
2,882 |
2,923 |
730,922 |
4,156 |
|
GTA |
3,781 |
750,180 |
4,308 |
4,876 |
734,847 |
6,289 |
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TREB MLS® Sales & Average Price By Home Type December 1 - 31, 2018 |
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Sales |
Average Price |
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|
416 |
905 |
Total |
416 |
905 |
Total |
|
|
Detached |
340 |
1,250 |
1,590 |
1,145,892 |
891,095 |
945,580 |
|
Yr./Yr. % Change |
-24.1% |
-14.8% |
-17.0% |
-8.0% |
-2.2% |
-4.4% |
|
Semi-Detached |
116 |
226 |
342 |
939,859 |
661,186 |
755,707 |
|
Yr./Yr. % Change |
-32.6% |
-26.6% |
-28.8% |
4.0% |
3.9% |
3.2% |
|
Townhouse |
162 |
455 |
617 |
714,456 |
591,851 |
624,042 |
|
Yr./Yr. % Change |
-18.2% |
-31.1% |
-28.1% |
10.0% |
2.9% |
5.3% |
|
Condo Apartment |
848 |
337 |
1,185 |
594,381 |
454,135 |
554,497 |
|
Yr./Yr. % Change |
-23.9% |
-21.8% |
-23.4% |
11.4% |
5.8% |
9.9% |
For more details and data use this link: http://www.trebhome.com/market_news/release_market_updates/news2018/nr_market_watch_1218.htm
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