| Blogs for Buyers

Price Growth Continues as Calendar Year Closes.


The Toronto Real Estate Board (TREB) has released its market report for December 2018. Amongst the highlights: sales prices in the GTA increased by 2.1% on a year-over-year basis, primarily due to the performance of condos, which increased in price by nearly 10%.

“Price growth was strongest for less expensive home types, as many home buyers sought more affordable home ownership options,” says Jason Mercer, TREB’s director of market analysis and service channels.

But, Mercer adds, “after spiking in 2017, new listings receded markedly in 2018. In many neighbourhoods, despite fewer sales from a historical perspective, some buyers still struggled to find a home meeting their needs.”

There were 3,781 residential transactions reported through TREB’s multiple listing service last month, a 22.5% decline compared with December 2017. New listings were also down on a year-over-year basis, by 31.5%.

These figures are in line with 2018 annual statistics, also released by TREB. A total of 77,426 sales were reported in 2018, compared with 92,263 sales reported in 2017. New listings also declined in 2018 by 12.7% compared with 2017.

“Higher borrowing costs coupled with the new mortgage stress test certainly prompted some households to temporarily move to the sidelines to reassess their housing options,” says TREB president Garry Bhaura. “With this said, it is important to note that market conditions were improved in the second half of the year, both from a sales and pricing standpoint.”

Final Figures for 2018: Condo Prices Up, Sales Down.


It’s a new year, which means that the Toronto Real Estate Board (TREB) has released its lookback at 2018, along with its report on December market activity.

According to TREB’s report, the condo market in the Greater Toronto Area saw the strongest price growth of all housing types.

“Price growth was strongest for less expensive home types, as many home buyers sought more affordable home ownership options,” says Jason Mercer, TREB’s director of market analysis and service channels.

In December alone, condo prices in the GTA rose by nearly 10% when compared with December 2017. In contrast, prices of detached homes in the GTA dropped by 4.4% in the same period. Transactions and new listings for all housing types were also down last month, by 22.5% and 31.5%, respectively, year-over-year.

These figures are in line with annual statistics for 2018. A total of 77,426 sales were reported last year, compared with 92,263 sales reported in 2017. New listings also declined in 2018, by 12.7% compared with 2017.

“Higher borrowing costs coupled with the new mortgage stress test certainly prompted some households to temporarily move to the sidelines to reassess their housing options,” says TREB president Garry Bhaura. “With this said, it is important to note that market conditions were improved in the second half of the year, both from a sales and pricing standpoint.”

Leave A Comment

Your email address will not be published. Required fields are marked *