RE/MAX - Above The Crowd!

This section of the website is devoted to providing statistics on the Toronto real estate market. Careful evaluation of this type of information can sometimes provide valuable insight into the market, the factors that drive the market, and possible future trends. Be very careful before making a buying or purchasing decision based on these type of statistics alone. Predicting the future by extrapolating from the past can be very risky without professional advice.

Sales Volume Statistics


2018 Monthly Sales versus 2017


Chart of 2018 vs 2017 sales by month

The Toronto Real Estate Board reported 7,492 homes sold in October 2018. This October sales volume represents a 16.4 percent increase over the sales volume reported for September 2018 and a 6 percent increase over the sales volume reported for October 2017.

Annual Sales Volume 1980-2017


Graph of Annual Sales 1980-2017

This chart graphically depicts the number of single family homes sold in the years 1980 through to 2017. The volume of sales in the Toronto area experienced peaks in 1986 and 1988 followed by slow years during the early 1990's. Sales volume picked up from 1996 onwards. Sales of resale homes in 2016 were the highest recorded. Total sales volume in 2017 declined by approximately 18 percent from the high of 2016.
[Note: the Toronto Real Estate Board's geographic boundaries were changed during the period depicted in the graph, so direct comparisons between 1996 and 1986 for example, are not valid]

Sales Year-To-Date

Graph of 1991-2018 Sales Year to Date

This chart depicts the number of resale homes sold to the end of October for each of the years 1991 through to 2018. While 2018 sales year-to-date were 16 percent lower than 2017, they were also the lowest since 2002.

Average Selling Prices

Average Selling Price 1980-2017


Graph of Average Selling Price 1980-2017

This chart presents average price trends for houses in the Toronto area during the last 37 years. House prices clearly peaked in 1989 and then dropped until 1996. House prices have been steadily increasing since then. Prices levelled off during 2008, but resumed their upward climb in 2009, climbing steeply in 2016 and 2017.

Average Monthly Selling Price 2018 vs 2017

Image of Average Price 2018 vs 2017

The average selling price of homes that sold during October was $807,340 - which represents a 1.3 percent increase over the average price reported for September 2018. The October monthly average selling price was also 3.5 percent higher than the selling price reported for October 2017. Average selling price reported on a monthly basis can be misleading as it is comprised of a combination of the real value of property plus the ratio of higher priced to lower priced homes that have sold during the month. The mix of homes sold during October is depicted below in the Sales by Price Breakdown chart.

The average selling price year-to-date to the end of October 2018 was $789,181 - approximately 4.1 percent lower than the average selling price for the full year 2017.

Inventory

Image of number of properties for sale

This chart depicts the number of active listings (properties for sale) on the Toronto Real Estate Board. There were 18,926 properties listed for sale in October 2018 which represents a 6 percent decline from the number of properties listed for sale in September 2018 and was marginally higher than the number of properties listed for sale in October 2017. The number of new listings coming onto the market in October was 2.7 percent lower than a year ago.

Home Sales by Type/Price


Home Sales by Type of Property:

Graph of Single Family Sales by Type

This chart breaks down single family residential sales during October 2018 into the various different categories of property such as single family detached, semi-detached, townhouse etc.

 

 

Home Sales by Price Range

Image of Sales by Price Range

This chart breaks down sales of single family homes during October 2018 into price ranges so that the most popular (highest selling) price ranges can be quickly determined. Sales volumes during October were highest in the $600,000 - $700,000 price range. The mix between sales of higher priced homes versus lower priced homes directly affects the average selling price reported for the month.

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Randi
Randi Emmott, Sales Representative
RE/MAX West Realty Inc.
Tel: (905) 607-2000
E-Mail: remmott@remax.net
Ryan
Ryan Emmott, Sales Representative
RE/MAX West Realty Inc.
Tel: (905) 607-2000
E-Mail: r.emmott@gmail.com