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2019 Market: Looks Like It’s Off to a Strong Start!


The first quarter of 2019 is well underway, which means that the Toronto Real Estate Board’s (TREB) first report of the year has been released. Good news: January’s numbers weren’t as bleak as January’s weather.

Home sales in the GTA were up by 3.4% compared to December 2018, and by 0.6% compared to January 2018.

“It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month,” says TREB president Garry Bhaura. “The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in calendar year 2019.”

While the average selling price ($748,328) dipped a bit lower than December’s, it was up by 1.7% compared to January 2018. New listings increased year-over-year, too; January 2019 saw 9,456 listings added to the MLS.

“Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered,” says Jason Mercer, TREB’s director of market analysis and service channels.

In Toronto and the 905 area, condos and townhouses were at the forefront of the price growth recorded in January. The average selling price of a condo was up nearly 8% on a year-over-year basis.

Condo Prices Remain Hot Despite Cold Weather.


A deluge of snow and arctic temperatures weren’t enough to freeze condo prices in the GTA last month. According to the latest market report from the Toronto Real Estate Board, the average selling price of a Toronto condo was up by 8.8% in January 2019 when compared with January 2018. In the 905, prices were up by 8.2%.

While the number of condo sales in Toronto dipped by 6.3% on a year-over-year basis, they increased in the 905 area by 6.7%, for an average year-over-year change of -2.4%.

“Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered,” says Jason Mercer, TREB’s director of market analysis and service channels.

“Given housing affordability concerns in the GTA, especially as it relates to mortgage qualification standards, we have seen tighter market conditions and stronger price growth associated with higher density low-rise home types and condominium apartments, which have lower average selling prices compared to single detached homes.”

The average selling price in the GTA in January was up by 1.7% on a year-over-year basis, led by condos. Townhouses and semi-detached homes saw price increases of 4.6% and 3.6% respectively, while the average selling price of a detached house fell by 2.8%.

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