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2020 buyer trends you need to know

By the Numbers 

The Toronto Real Estate Boards statistic year over year for the month of December. 

4,399

TREB Sales 

December  2019

3,746

TREB Sales 

December 2018

$837,788

TREB Average Price  Dec. 2019

$749,014

TREB Average Price Dec. 2018

December Numbers 2019

  • Number of Sales 2019
    4,399 | +17.4%
  • Number of Sales 2018
    3,746
  • Number of New Listing 2019
    3,531 | -18.1%
  • Number of New Listings 2018
    4,309
  • Number of Active Listing 2019
    7,406 | -35.2%
  • Number of Active Listings 2018
    11,431
  • Average Price 2019
    $837,788 | +11.9%
  • Average Price 2018
    $749,014
  • Average Days on the Market (DOM) 2019
    29 Days | -6.5%
  • Average Days on the Market (DOM) 2018
    31 Days

TREB Market Summary

TORONTO, January 7, 2020 - Toronto Real Estate Board President Michael Collins reported that December 2019 residential sales reported through TREB’s MLS® System by Greater Toronto Area REALTORS® were up by 17.4 percent year-over-year to 4,399. Total sales for the calendar year 2019 amounted to 87,825 – up by 12.6 percent compared to the decade low 78,015 sales reported in 2018. On an annual basis, 2019 sales were in line with the median annual sales result for the past decade. 

“We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year. As anticipated, many home buyers who were initially on the sidelines moved back into the market place starting in the spring. Buyer confidence was buoyed by a strong regional economy and declining contract mortgage rates over the course of the year,” said Mr. Collins. 

While sales were up in 2019, the number of new listings entered into TREB’s MLS® System was down by 2.4 percent year-over-year. For the past decade, annual new listings have been largely in a holding pattern between 150,000 and 160,000, despite the upward trend in home prices over the same period. 

“Over the last ten years, TREB has been drawing attention to the housing supply issue in the GTA. Increasingly, policymakers, research groups of varying scope and other interested parties have acknowledged that the lack of a diverse supply of ownership and rental housing continues to hamper housing affordability in the GTA. Taking 2019 as an example, we experienced a strong sales increase up against a decline in supply. Tighter market conditions translated into accelerating price growth. Expect further acceleration in 2020 if there is no relief on the supply front,” said Jason Mercer, TREB’s Chief Market Analyst. 

The MLS® Home Price Index Composite Benchmark was up by 7.3 percent on a year-over-year basis in December 2019. From June 2019 onward, the annual growth rate in the MLS® HPI Composite Benchmark accelerated. The average selling price in December 2019 was $837,788 – up almost 12 percent year-over-year. For the calendar year 2019, the average selling price was $819,319 – up by four percent compared to $787,856 in 2018.

Breaking Down The Numbers

Sales Numbers, Average Price & Percentage Changes over the same time last year.

Detached

1,984 | +26.2%

$1,052,081 | +11.6%

Townhouse

731 | +19.2%

$672,709 | +7.8%

Semi-Detached

381 | +12.1%

$805,144 | +6.5%

Condo Apt.

1,255 | +6.9%

$612,464 | +10.4%

Detached in December 2019

Detached sales and average price stats for the 416 & 905 area codes 

Sales 416

465 |+38.0% 

Avg. 416

$1,363,357 | +19.5%

Sales 905

1,519 | +23.0%

Avg. 905

$956,792 | +7.7%

Semi-Detached December 2019

Semi-Detached sales and average price stats for the 416 & 905 area codes. 

Sales (416)

126 |+8.6% 

Avg Price (416)

$1,004,477 | +6.9%

Sales (905)

255 | +13.8%

Avg Price (905)

$706,651 | +7.0%

Townhouses December 2019

Townhouse sales and average price stats for the 416 & 905 area codes. 

Sales (416)

185 |+14.2% 

Avg Price (416)

$717,369 | +0.4%

Sales (905)

546 | +21.1%

Avg Price (905)

$657,577 | +11.1%

Condos 

December 2019

Condo sales and average price stats for the 416 & 905 area codes

Sales (416)

884 |+5.1% 

Avg Price (416)

$656,233 | +10.3%

Sales (905)

371 | +11.4%

Avg Price (905)

$508,173 | +11.9%

Economic Indicators

  • Real GDP Growth | Q3 - 2019
    Down | 1.3%
  • Toronto Employment Growth | November 2019
    Down | 5.3%
  • Inflation Rate (Yr/Yr CPI Growth) | September 2019
    Up | 2.2%
  • Toronto Unemployment Rate | September 2019
    Steady | 5.7%
  • Bank of Canada Overnight Rate | December 2019
    Unchanged | 1.75%
  • Prime Rate | December 2019
    Unchanged | 3.95%
  • Mortgage Rates Oct 2019 (1yr/3Yr|5Yr)
    3.64%|3.94%|5.19%
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