Feb 18, 2020
Toronto Real Estate Board's latest report: Home sales rose 15.4% in January
According to the latest January 2020 housing market report released by TRREB, in January 2020, there were 4,581 homes sold through TRREB's MLS system, an increase of 15.4% compared to January 2019. After an initial seasonal adjustment, sales have increased by 4.8% compared to the same period last year. It can be seen that from January this year continued the good momentum of December last year, the number of sales increased very strongly, and the number of new listings and houses already on the market continued to decline. Compared with a year ago, tighter market conditions have led to stronger growth in home prices. Stable population growth, low unemployment and low borrowing costs continue to support fierce competition among buyers in all major market sectors.
Compared with January 2019, the MLS composite benchmark price has increased by 8.7%, which is the highest annual growth rate of the benchmark since October 2017. The apartment market has continued to lead in the growth of MLS prices, and has driven the growth of housing prices in most regions. Prices of all housing types have increased by more than 7%. In January, the average sales price of detached houses and apartments located in the center of Toronto rose by 12.3%. The main difference between the price increase in January 2020 and January 2019 is in the low-rise market, especially for detached houses. Over the past year, the trend of housing has changed a lot. Obviously, many buyers on the sidelines due to the OSFI stress test are re-entering the market, driving very strong year-on-year growth in the independent market. Judging from the current strong sales situation and the current limited market supply, this will cause housing prices in most regions to continue to rise at a rapid rate.
GTA (Greater Toronto) Western Region Specifics
A total of 1,005 homes were sold in the Peel Region in January 2020, with a total value of $ 788,261,288, an average price of $ 784,340, and a median price of $ 730,000. And in January, 1,542 new homes were listed. In terms of detached houses, the Peel area sold a total of 440 detached houses for a total price of $ 432,652,132, accounting for 55% of the total home sales price in January. The average price is $ 983,300 and the median price is $ 908,000. In terms of condominiums, the total transaction volume in Peel District in January was 188, with a total sale price of $ 99,433,648, accounting for 13% of the total home sales price in January.
Subdivided into various cities, Mississauga and Brampton are still the main battlefields in house buying and selling, with 439 and 513 houses of various types sold, with a total value of $ 150,840,170 and $ 242,129,712 . Among them, 127 houses were sold in Mississauga, with an average price of C $ 1,187,718, the median price was C $ 1,070,000, and 284 houses were newly listed. A total of 278 detached houses were sold in Brampton, with an average price of $ 870,970, with a median price of $ 834,000, and 410 newly listed detached houses. In terms of apartment sales, the difference between the two cities can be seen. Mississauga sold a total of 164 units in January, with an average price of $ 539,788, a median price of $ 509,500, and 231 new listings. Brampton City only sold 24 units, with an average price of C $ 8454,517, with a median price of C $ 445,750, and 27 newly listed detached houses. Caledon sold just 53 homes in January, with a value of $ 52,425,650, with an average price of $ 989,163 and a median price of $ 849,000. A total of 455 homes were sold in the Halton Region in January 2020, with a total value of $ 423,960,917, an average price of $ 931,782, and a median price of $ 840,000. And in January there were 809 new homes listed. In terms of detached houses, a total of 263 detached houses were sold in the Holden area, with a total price of $ 299,374,392, accounting for 70.6% of the total house price in January. The average price is $ 1,138,306 and the median price is $ 999,999. In terms of condominiums, the total sales volume in January in the Holden District was 188, with a total sale price of $ 99,433,648, accounting for 13% of the total home sales in January. As for the apartment market in Holden District, since most of the apartments are newly built and under construction, the transaction volume is not very high, only 55 units. The total price was $ 27,057,910, the average price was $ 491,962, and the median price was $ 460,000. There were 84 new apartments on the market in January.
Subdivided into various cities, Oakville is the central position of housing purchase and sale in the entire Holden District, with 179 units of various types of housing transactions. The value reached $ 197,758,431, which accounted for 46.6% of the total housing transactions in the Holden District. The average price was $ 1,104,796 and the median price was $ 999,999. A total of 107 houses were sold, with an average price of $ 1,368,664, a median price of $ 1,300,000, and 243 new houses. Although Burlington, Halton Hills and Milton can't match Oakville in terms of volume and average price, but overall the momentum is good and prices have increased steadily. The three towns' January sales were 123 units, 58 units, and 95 units, with a total value of C $ 103,859,578, C $ 47,180,570, and C $ 75,162,338. Houses accounted for the largest proportion, with Burlington selling 73 units at an average price of $ 1,038,386 and a median price of $ 925,000. New homes in January reached 143 units. 44 Mount Horton sold for an average price of $ 898,540 and a median price of $ 868,995. 74 new homes were added in January. 39 units were sold in Milton, with an average price of $ 963,829 and a median price of $ 895,000. There were 58 new detached houses in January. In terms of apartments, Oakville only sold 18 apartments in January, for a total of $ 9,713,810, with an average price of $ 539,656, with a median price of $ 468,450, and 30 new apartments were added in January. Burlington sold 26 apartments in January for a total of $ 11,933,600, with an average price of $ 458,985, a median price of $ 426,000, and 42 new apartments in January. to sum up:Based on the data provided by the Toronto Real Estate Board in January, it can be seen that the entire western region (Pearl and Holden) has continued the upward trend at the end of last year. Both the transaction volume and price have been steadily increasing. among. In January, as the off-season of housing transactions in each year, it is not easy for these areas to achieve such results. At the same time, it also confirms that the current housing market is gradually coming out of the trough. Based on the analysis of the Canadian Real Estate Board and other data, real estate throughout Canada is gradually out of the cold winter. As an important city in Ontario and even Canada, Toronto is definitely the first to bear the brunt of this house ’s rise in the battle. At present, prices in popular areas such as Mississauga and Oakville have not seen crazy increases, but there has been a certain trend. Some high-quality houses need to grab offers before they have the opportunity to start. Although it will not return to the crazy market of 2016 and 2017 for the time being, it will still be a boost to the real estate industry in Toronto and Canada. Most buyers and investors have stopped watching and have slowly poured into the current investment market. It is foreseeable that the spring of Toronto's real estate industry this year will be earlier, faster, and will last longer!