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Monthly Market Update – January 2019

TREB announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6%  compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4% compared to December 2018.

“It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in calendar year 2019,” said Mr. Bhaura, the President of TREB.

The MLS® HPI Composite Benchmark price was up by 2.7% compared to January 2018. The condominium apartment market segment continued to lead the way in terms of price growth. Theaverage selling price was up by 1.7% on a year-over-year basis. After preliminary seasonaladjustment, the average selling price edged lower compared to December 2018.

“Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered. Given housing affordability concerns in the GTA, especially as it relates to mortgage qualification standards, we have seen tighter market conditions and stronger price growth associated with higher density low-rise home types and condominium apartments, which have lower average selling prices compared to single detached homes,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels. (Courtesy of TREB)

If you'd like more information, or if you have a question that's not covered here, please ask me  — I'll be happy to help.

 



Monthly Market Update - February 2020
Monthly Market Update - January 2020.
Monthly Market Update - December 2019
Monthly Market Update - November 2019
Monthly Market Update - October 2019
Monthly Market Update - September 2019
Monthly Market Update - August 2019
Monthly Market Update - July 2019
Monthly Market Update - June 2019
Monthly Market Update - May 2019
Monthly Market Update - April 2019
Monthly Market Update - March 2019
Monthly Market Update - February 2019
Monthly Market Update - January 2019.
Monthly Market Update - December 2018
Monthly Market Update - November 2018
Monthly Market Update - October 2018
Monthly Market Update - September 2018
Monthly Market Update - August 2018
Monthly Market Update - July 2018
Monthly Market Update - June 2018
Monthly Market Update - May 2018
Monthly Market Update - April 2018
Monthly Market Update - March 2018
Monthly Market Update - February 2018
Monthly Market Update - January 2018
Monthly Market Update - December 2017
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