West End Toronto Real Estate Market Update - August 2019

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There were 7,711 residential sales in Toronto in August 2019. This was a 13.4% increase compared to 6,797 sales reported in August 2018. On a month-over-month basis, after preliminary seasonal adjustment, sales were up by 0.8%.

GTA-wide sales were up on a year-over-year basis for all major market segments, with annual rates of sales growth strongest for low-rise home types including detached houses. This reflects the fact that demand for more expensive home types was very low in 2018 and has rebounded to a certain degree in 2019, albeit not back to the record levels experienced in 2016 and the first quarter of 2017. Market conditions also became tighter in August 2019 compared to a year ago because, while sales were up year-over-year, new listings were down by three percent over the same time period to 11,789. Year-to-date, growth in sales has well outstripped growth in new listings. This is why overall active listings counted at the end of August were down by more than 11 per cent compared to August 2018.

The average selling price, at $792,611 in August 2019, was up by 3.6% year-over-year. The condominium apartment segment continued to lead the way in terms of price growth, followed by higher density low-rise home types and finally detached houses.

If you would like to compare these numbers to last month, you can find the July numbers here.








West End Toronto Real Estate Market Update - July 2019

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There were 8,595 home sales in Toronto in the month of July. This result was up by 24.3% compared to July 2018. On a month-over-month basis, sales were up by 5.1%, after preliminary seasonal adjustment. New listings were also up compared to July 2018, but by a much lesser annual rate than sales, at 3.7%.

With annual growth in sales far outstripping annual growth in new listings, market conditions clearly tightened compared to last year. Active listings at the end of July were down by 9.1% year-over-year, further reflecting tightening market conditions. As market conditions continued to tighten in July, the average selling price increased by 3.2% on a year-over-year basis to $806,755.

Higher density home types continued to drive price growth, whereas detached home prices remained down in many communities throughout the GTA. Broadly speaking, increased competition between buyers for available properties has resulted in relatively strong price growth above the rate of inflation for semi-detached houses, townhouses and condominium apartments. However, the single-detached market segment, which has arguably been impacted most by the OSFI stress test, has experienced a slower pace of price growth, with average detached prices remaining lower than last year’s levels in some parts of the GTA

To compare these numbers to the sales numbers in June, you can find them here.