INFOGRAPHICS: July 2019 TREB Toronto Market Reports
We’re now squarely into the third quarter of the year, and here are the latest real estate market updates for areas covered by the Toronto Real Estate Board (TREB)!
In their most recent market report, Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB’s MLS® System in July 2019. 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 entered into TREB’s MLS® System in July 2019 were 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.
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.
UPDATE: In January 2020, TREB has since rebranded to TRREB, the Toronto Regional Real Estate Board.
The following data is a comparison between July 2018 and July 2019 numbers, and is current as of August 2019. For last month’s numbers, check out our previous infographic!
Click on the images for a larger view!
(Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )