March 5, 2019 -- Toronto Real Estate Board President Gurcharan (Garry) Bhaura announced that Greater Toronto Area REALTORS® reported 5,025 homes sold through TREB's MLS® System in February 2019. This sales total was down by 2.4 per cent on a year-over-year basis. Sales were also down compared to January 2019 following preliminary seasonal adjustment.
2. www.TREBhome.com
Page 1 of 5
TREB RELEASES RESALE MARKET FIGURES AS REPORTED BY GTA REALTORS®
TORONTO, ONTARIO, March 5, 2019 – Toronto Real Estate Board President Gurcharan (Garry)
Bhaura announced that Greater Toronto Area REALTORS® reported 5,025 homes sold through
TREB’s MLS® System in February 2019. This sales total was down by 2.4 per cent on a year-over-
year basis. Sales were also down compared to January 2019 following preliminary seasonal
adjustment.
“The OSFI mandated mortgage stress test has left some buyers on the sidelines who have
struggled to qualify for the type of home they want to buy. The stress test should be reviewed
and consideration should be given to bringing back 30 year amortizations for federally insured
mortgages. There is a federal budget and election on the horizon. It will be interesting to see
what policy measures are announced to help with home ownership affordability,” said Mr.
Bhaura.
Despite sales being down year-over-year, new listings actually declined by a greater annual rate.
This suggests that market conditions became tighter compared to last year. Tighter market
conditions continued to support year-over-year average price growth.
Both the MLS® Home Price Index Composite Benchmark and the average selling price were up
modestly on a year-over-year basis in February 2019. The MLS® HPI Composite Benchmark was
up by 2.4 per cent year-over-year. The average selling price for all home types combined was up
by 1.6 per cent over the same period. Price growth was driven by the condominium apartment
segment and higher density low-rise home types. On a preliminary seasonally adjusted basis the
average selling price was down compared to January 2019.
“Home sales reported through TREB’s MLS® System have a substantial impact on the Canadian
economy. A study conducted by Altus for TREB found that, on average, each home sale reported
through TREB resulted in $68,000 in spin-off expenditures accruing to the economy. With sales
substantially lower than the 2016 record peak over the last two years, we have experienced a hit
to the economy in the billions of dollars, in the GTA alone. This hit has also translated into lower
government revenues and, if sustained, could impact the employment picture as well,” said Jason
Mercer, TREB’s Director of Market Analysis and Service Channels.
The rental market continued to operate in a high demand, low inventory environment during the
first two months of 2019. Strong competition between renters resulted in average rents for one-
bedroom and two-bedroom apartments leased through TREB’s MLS® System increasing well-
above the rate of inflation on a year-over-year basis for the January-February period. The average
NEWS RELEASE
3. www.TREBhome.com
Page 2 of 5
one-bedroom rent was up by 8.1 per cent to $2,145. The average two-bedroom rent was up by
7.4 per cent to $2,810.
“With vacancy rates hovering in the one per cent range and average rents increasing in the high
single digits, it is clear that signing a lease for a rental unit is not an easy proposition in the GTA.
While some rent control provisions have been relaxed by the new provincial government, policy
makers need to look at further initiatives to encourage rather than discourage investment in
rental apartments. A recent Ipsos survey conducted for TREB found that almost one-quarter of
investment property owners are very likely to list their property for sale this year, which is
concerning in an already tight rental market,” said TREB CEO John DiMichele.
Summary of TREB MLS® Sales and Average Price – February 1-28
2019 2018
Sales
Average
Price
New
Listings Sales
Average
Price
New
Listings
City of Toronto ("416") 1,879 840,211 3,301 2,005 806,524 3,365
Rest of GTA ("905") 3,146 744,672 6,527 3,143 743,099 7,108
GTA 5,025 780,397 9,828 5,148 767,801 10,473
TREB MLS® Sales & Average Price By Home Type – February 1-28
Sales Average Price
416 905 Total 416 905 Total
Detached 470 1,701 2,171 1,294,936 894,147 980,914
Yr./Yr. % Change -9.6% 4.2% 0.8% 0.8% -1.9% -2.1%
Semi-Detached 174 282 456 1,087,363 675,355 832,569
Yr./Yr. % Change 20.0% -6.9% 1.8% 10.5% 4.1% 9.9%
Townhouse 159 634 793 764,569 603,372 635,693
Yr./Yr. % Change -12.6% -4.2% -6.0% -1.7% 0.5% -0.5%
Condo Apartment 1,064 472 1,536 612,488 448,711 562,161
Yr./Yr. % Change -6.7% -3.5% -5.7% 7.4% 3.1% 6.1%
4. www.TREBhome.com
Page 3 of 5
February 2019 Year-Over-Year Per Cent Change in the MLS® HPI
Composite
(All Types)
Single-
Family
Detached
Single-
Family
Attached
Townhouse Apartment
TREB Total 2.35% -0.57% 1.36% 4.45% 7.92%
Halton Region 0.23% -1.35% 0.83% 4.72% 2.71%
Peel Region 4.92% 3.38% 4.21% 3.18% 11.83%
City of
Toronto 5.50% 0.56% 3.51% 6.03% 8.70%
York Region -3.09% -3.96% -3.62% -0.59% 1.15%
Durham
Region -0.64% -1.13% 0.08% 2.18% -1.48%
Orangeville 1.71% 1.83% 1.97% - -
South Simcoe
County1 -0.16% -0.08% -0.92% - -
Source: Toronto Real Estate Board
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New
Tecumseth
Annual Summary of TREB MLS® Sales and Average Price
Year-to-Date
2019 2018
Sales
Average
Price
New
Listings Sales
Average
Price
New
Listings
City of Toronto ("416") 3,298 812,982 6,444 3,514 789,721 6,134
Rest of GTA ("905") 5,720 739,221 12,841 5,621 731,452 12,900
GTA 9,018 766,197 19,285 9,135 753,866 19,034
5. www.TREBhome.com
Page 4 of 5
Annual TREB MLS® Sales & Average Price By Home Type
Year-to-Date 2019
Sales Average Price
416 905 Total 416 905 Total
Detached 810 3,057 3,867 1,243,464 889,468 963,618
Yr./Yr. % Change -9.4% 5.2% 1.8% -3.3% -0.7% -2.4%
Semi-Detached 265 526 791 1,055,119 663,918 794,978
Yr./Yr. % Change 10.9% -7.2% -1.9% 9.3% 3.1% 7.5%
Townhouse 300 1,175 1,475 780,059 602,008 638,222
Yr./Yr. % Change -5.4% -1.7% -2.4% 4.1% 1.2% 1.8%
Condo Apartment 1,903 869 2,772 603,298 452,380 555,986
Yr./Yr. % Change -6.5% 0.8% -4.3% 8.0% 5.3% 6.9%
Seasonally Adjusted TREB MLS® Sales
and Average Price1
Sales
Month-
over-
Month
% Chg.
Average
Price
Month-
over-
Month
% Chg.
February '18 5,986 -11.3% $749,881 -2.9%
March '18 6,095 1.8% $754,737 0.6%
April '18 5,907 -3.1% $755,515 0.1%
May '18 5,824 -1.4% $764,259 1.2%
June '18 6,490 11.4% $786,406 2.9%
July '18 6,746 3.9% $806,907 2.6%
August '18 6,947 3.0% $804,581 -0.3%
September '18 6,922 -0.4% $800,687 -0.5%
October '18 6,793 -1.9% $807,128 0.8%
November '18 6,698 -1.4% $800,590 -0.8%
December '18 6,751 0.8% $793,999 -0.8%
January '19 6,733 -0.3% $782,944 -1.4%
February '19 6,212 -7.7% $764,637 -2.3%
Source: Toronto Real Estate Board; CREA
Seasonal Adjustment
1 Preliminary seasonal adjustment undertaken by the Canadian Real
Estate Association (CREA). Removing normal seasonal variations allows
for more meaningful analysis of monthly changes and underlying trends.
6. www.TREBhome.com
Page 5 of 5
Jan.-Feb. 2019 TREB MLS® System Condominium Apartment Rental Market Summary*
Apartment Type Month/Year Rentals Average Rent
One-Bedroom
Jan.-Feb 2019 2,316 $2,145
Jan.-Feb 2018 2,232 $1,985
Yr./Yr. % Chg. 3.8% 8.1%
Two-Bedroom
Jan.-Feb 2019 1,383 $2,810
Jan.-Feb 2018 1,265 $2,616
Yr./Yr. % Chg. 9.3% 7.4%
Source: Toronto Real Estate Board
*Note: A broader breakout of condominium apartment and condominium townhouse rental statistics by bedroom type and
TREB areas and municipalities will continue to be provided in TREB's quarterly Rental Market Report.
Media Inquiries:
Mary Gallagher, Senior Manager, Public Affairs
maryg@trebnet.com
(416) 443-8158
TREB is Canada’s largest real estate board. Over 53,000 residential and commercial TREB Members serve
consumers in the Greater Toronto Area. Greater Toronto REALTORS® are passionate about their work.
They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service®.
7. Toronto Employment
Growth
January 2019 1.2%
Month February 2019
1 Year
3 Year
5 Year
3.64%
4.29%
5.34%
February 2019
1 Year
3 Year
5 Year
--
--
--
Market Watch
For All TREB Member Inquiries:
(416) 443-8158
For All Media/Public Inquiries:
(416) 443-8152
GTA REALTORS® Release February 2019 Stats
Greater Toronto, March 5, 2019 – Toronto Real Estate Board President Gurcharan (Garry)
Bhaura announced that Greater Toronto Area REALTORS® reported 5,025 homes sold through
TREB’s MLS® System in February 2019. This sales total was down by 2.4 per cent on a year-
over-year basis. Sales were also down compared to January 2019 following preliminary
seasonal adjustment.
“The OSFI mandated mortgage stress test has left some buyers on the sidelines who have
struggled to qualify for the type of home they want to buy. The stress test should be reviewed
and consideration should be given to bringing back 30 year amortizations for federally insured
mortgages. There is a federal budget and election on the horizon. It will be interesting to see
what policy measures are announced to help with home ownership affordability,” said Mr.
Bhaura.
Despite sales being down year-over-year, new listings actually declined by a greater annual
rate. This suggests that market conditions became tighter compared to last year. Tighter
market conditions continued to support year-over-year average price growth.
Both the MLS® Home Price Index Composite Benchmark and the average selling price were up
modestly on a year-over-year basis in February 2019. The MLS® HPI Composite Benchmark
was up by 2.4 per cent year-over-year. The average selling price for all home types combined
was up by 1.6 per cent over the same period. Price growth was driven by the condominium
apartment segment and higher density low-rise home types. On a preliminary seasonally
adjusted basis the average selling price was down compared to January 2019.
“Home sales reported through TREB’s MLS® System have a substantial impact on the Canadian
economy. A study conducted by Altus for TREB found that, on average, each home sale
reported through TREB resulted in $68,000 in spin-off expenditures accruing to the economy.
With sales substantially lower than the 2016 record peak over the last two years, we have
experienced a hit to the economy in the billions of dollars, in the GTA alone. This hit has also
translated into lower government revenues and, if sustained, could impact the employment
picture as well,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.
TREB MLS® Sales Activity
5,025 5,148
February 2019 February 2018
TREB MLS® Average Price
$780,397
$767,801
February 2019 February 2018
Year-Over-Year Summary
2019 2018 % Chg.
Sales
New Listings
Active Listings
Average Price
Average DOM
5,025 5,148 -2.4%
9,828 10,473 -6.2%
13,284 13,362 -0.6%
$780,397 $767,801 1.6%
25 25 0.0%
Sources and Notes:
i - Statistics Canada, Quarter-over-quarter
growth, annualized
ii - Statistics Canada, Year-over-year
growth for the most recently reported
month
iii - Bank of Canada, Rate from most
recent Bank of Canada announcement
iv - Bank of Canada, Rates for most
recently completed month
Real GDP Growth
Q4 2018 0.4%
Toronto Unemployment
Rate
January 2019 6.1%
Inflation Rate (Yr./Yr. CPI
Growth)
January 2019 1.4%
Bank of Canada Overnight
Rate
February 2019 -- 1.75%
Prime Rate
February 2019 -- 3.95%
Economic Indicators
Metrics Sales Average Price
416 905 Total 416 905 Total
2019
Detached
Semi - Detached
Townhouse
Condo Apartment
470 1,701 2,171 $1,294,936 $894,147 $980,914
174 282 456 $1,087,363 $675,355 $832,569
159 634 793 $764,569 $603,372 $635,693
1,064 472 1,536 $612,488 $448,711 $562,161
Sales & Average Price By Major Home Type
February 2019
February 2019
i
ii
ii
iii
iv
Detached
Semi - Detached
Townhouse
Condo Apartment
0.8% -1.9% -2.1%
10.5% 4.1% 9.9%
-1.7% 0.5% -0.5%
7.4% 3.1% 6.1%
Detached
Semi - Detached
Townhouse
Condo Apartment
-9.6% 4.2% 0.8%
20.0% -6.9% 1.8%
-12.6% -4.2% -6.0%
-6.7% -3.5% -5.7%
1,7
1,7
1,7
1,7
Year-Over-Year Per Cent Change
Mortgage Rates
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
8. Toronto Real Estate Board
Market Watch, February 2019
SALES BY PRICE RANGE AND HOUSE TYPE FEBRUARY 2019
2
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
0 0 0 0 0 0 0 0 0 0
5 0 0 1 4 0 0 0 0 10
5 0 0 9 37 0 1 0 1 53
29 6 4 35 258 0 1 0 1 334
92 22 43 98 478 8 0 1 3 745
196 57 104 87 333 17 0 0 0 794
254 110 153 59 177 10 0 0 1 764
359 105 69 23 83 7 0 2 0 648
320 44 43 6 58 8 1 1 0 481
219 22 14 10 36 4 0 0 0 305
294 39 13 6 37 1 0 0 0 390
175 25 4 4 10 0 1 0 0 219
84 13 4 0 9 0 0 0 0 110
38 9 0 1 6 0 0 0 0 54
101 4 2 1 10 0 0 0 0 118
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
1 0 0 0 0 0 0 0 0 1
7 0 0 1 11 0 0 0 0 19
13 0 1 11 72 0 3 0 1 101
68 14 8 65 484 1 1 1 2 644
174 41 93 198 877 15 1 2 3 1,404
349 107 178 171 586 25 0 0 0 1,416
511 212 270 104 316 15 0 0 2 1,430
633 182 118 43 152 13 0 2 0 1,143
549 72 86 12 94 15 1 1 0 830
391 35 34 13 58 7 0 0 0 538
505 57 22 10 60 1 0 0 0 655
293 39 13 6 19 0 1 0 0 371
136 16 7 3 18 0 0 0 0 180
72 10 1 1 9 0 0 0 0 93
165 6 3 3 16 0 0 0 0 193
SALES BY PRICE RANGE AND HOUSE TYPE YEAR-TO-DATE, 2019
Total Sales
Share of Total Sales
Average Price
2,171 456 453 340 1,536 55 4 4 6 5,025
43.2% 9.1% 9.0% 6.8% 30.6% 1.1% 0.1% 0.1% 0.1% 100.0%
$980,914 $832,569 $684,043 $571,273 $562,161 $659,024 $715,000 $720,000 $451,667 $780,397
Total Sales
Share of Total Sales
Average Price
3,867 791 834 641 2,772 92 7 6 8 9,018
42.9% 8.8% 9.2% 7.1% 30.7% 1.0% 0.1% 0.1% 0.1% 100.0%
$963,618 $794,978 $691,227 $569,258 $555,986 $658,726 $550,843 $624,483 $456,000 $766,197
1,7
1,7
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
33. Toronto Real Estate Board
Market Watch, February 2019
HISTORIC ANNUAL STATISTICS
27
Year Sales Average Price
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
83,084 $351,941
93,193 $376,236
74,552 $379,347
87,308 $395,460
85,545 $431,276
89,096 $465,014
85,496 $497,130
87,049 $522,958
92,782 $566,624
101,213 $622,121
113,040 $729,837
2018 MONTHLY STATISTICS
NOTES
1 - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TREB MLS® system between the
first and last day of the month/period being reported.
2 - New listings entered into the TREB MLS® system between the first and last day of the month/period being reported.
3 - Active listings at the end of the last day of the month/period being reported.
4 - Ratio of the average selling price to the average listing price for firm transactions entered into the TREB MLS® system between the first and last day
of the month/period being reported.
5 - Average number of days on the market for firm transactions entered into the TREB MLS® system between the first and last day of the month/period
being reported.
6 - Due to past changes to TREB's service area, caution should be exercised when making historical comparisons.
7 - Past monthly and year-to-date figures are revised on a monthly basis.
8 - SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9 - Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
2019 MONTHLY STATISTICS
* For historic annual sales and average price data over a longer time frame go to:
January
February
March
April
May
June
July
August
September
October
November
December
Year to Date
3,993 $748,326
5,025 $780,397
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
9,018 $764,362
January
February
March
April
May
June
July
August
September
October
November
December
Annual
3,987 $735,874
5,148 $767,801
7,188 $784,514
7,744 $804,926
7,716 $803,440
8,024 $808,066
6,917 $781,939
6,798 $765,324
6,415 $796,814
7,451 $807,469
6,213 $788,257
3,756 $749,308
77,357 $787,175
1,6,7
1,7
1,7
http://www.torontorealestateboard.com/market_news/market_watch/historic_stats/p
df/TREB_historic_statistics.pdf
Copyright® 2019 Toronto Real Estate Board
$766,1979,018
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
34. TREB Housing Market Charts
February 2019
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
35. Toronto Real Estate Board 2
Explanation: This chart plots monthly MLS® sales for the current year and the previous three years. The recurring
seasonal trend can be examined along with comparisons to previous years for each month.
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Source: Toronto Real Estate Board
TREB MLS® Sales
Monthly with Three Previous Years for Comparison
2016 2017 2018 2019
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
36. Toronto Real Estate Board 3
Explanation: This chart plots monthly MLS® new listings for the current year and the previous three years. The recurring
seasonal trend can be examined along with comparisons to previous years for each month.
0
5,000
10,000
15,000
20,000
25,000
30,000
Source: Toronto Real Estate Board
TREB MLS® New Listings
Monthly with Three Previous Years for Comparison
2016 2017 2018 2019
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
37. Toronto Real Estate Board 4
Explanation: This chart plots the monthly MLS® sales-to-new listings ratio (SNLR) for the current year and the previous
three years. The recurring seasonal trend can be examined along with comparisons to previous years for each month.
0%
20%
40%
60%
80%
100%
120%
140%
Source: Toronto Real Estate Board
TREB MLS® Sales-to-New Listings Ratio
Monthly with Three Previous Years for Comparison
2016 2017 2018 2019
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
38. Toronto Real Estate Board 5
Explanation: This chart plots the monthly MLS® average home price for the current year and the previous three years.
The recurring seasonal trend can be examined along with comparisons to previous years for each month.
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
Source: Toronto Real Estate Board
TREB MLS® Average Resale Home Price
Monthly with Three Previous Years for Comparison
2016 2017 2018 2019
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
39. Toronto Real Estate Board 6
Explanation: This chart plots monthly MLS® sales since January 1995. The blue line shows actual sales. The brown line is the
trend computed using a 12-month moving average, which exhibits no seasonal variations or other irregular fluctuations. A
substantial change in actual sales must occur to change the direction of the trend.
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Source: Toronto Real Estate Board
TREB MLS® Sales
Monthly Time Series with Trend Line
Actual MLS® Sales
Trend (12-Month Moving Average)
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
40. Toronto Real Estate Board 7
Explanation: This chart plots monthly MLS® new listings since January 1995. The blue line shows actual new listings. The
brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other
irregular fluctuations. A substantial change in actual new listings must occur to change the direction of the trend.
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
22,000
24,000
26,000
28,000
Source: Toronto Real Estate Board
TREB MLS® New Listings
Monthly Time Series with Trend Line
Actual MLS® New Listings
Trend (12-Month Moving Average)
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
41. Toronto Real Estate Board 8
Explanation: This chart plots monthly MLS® average price since January 1995. The blue line shows the actual average price.
The brown line is the trend computed using a 12-month moving average, which exhibits no seasonal variations or other
irregular fluctuations. A substantial change in actual average price must occur to change the direction of the trend.
175,000
275,000
375,000
475,000
575,000
675,000
775,000
875,000
975,000
Source: Toronto Real Estate Board
TREB MLS® Average Price
Monthly Time Series with Trend Line
Actual MLS® Average Price
Trend (12-Month Moving Average)
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
42. Toronto Real Estate Board 9
Explanation: This chart plots the monthly sales-to-new listings ratio (blue line) with year-over-year average annual per cent price
change (brown line). When the sales-to-new listings ratio moves higher, average annual per cent change in home prices generally
trends higher. When the sales-to-new listings ratio moves lower, average annual per cent change in home prices generally trends lower.
-20%
-10%
0%
10%
20%
30%
40%
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
AveragePriceAnnualPerCentChange
(BrownLine)
Sales-to-NewListingsRatio
(BlueLine)
Source: Toronto Real Estate Board
TREB MLS® Sales-to-New Listings Ratio Compared to
Average Annual Per Cent Change in Home Price
Sales-to-New Listings Ratio
Average Price Annual Per Cent Change
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com
43. Toronto Real Estate Board 10
1. Average annual or year-to-date home price as reported by TREB
2. 20 per cent down payment
3. Average 5-year fixed mortgage rate (Statistics Canada); 25-year amortization
4. Average property tax rate reported by/estimated from the Statistics Canada Survey of Household Spending
5. Average utilities cost reported by/estimated from the Statistics Canada Survey of Household Spending and components of the Consumer Price Index
6. Average household income reported by the Census of Canada. Years in between Censuses estimated using interpolation (years up to 2005) or annual growth in average weekly earnings reported by
Statistics Canada in the Labour Force Survey (2006 onward).
25%
30%
35%
40%
45%
50%
55%
*Note: AssumesTREB average price and average 5-Year fixed ratemortgage
Source: Toronto Real Estate Board Dataand Calculation; StatisticsCanada
TREB Affordability Indicator
Share ofAverage Household Income Usedfor Mortgage Principaland Interest,
Property Taxesand Utilitieson theAveraged Priced GTA ResaleHome
TREB Housing Market Charts
COURTESY OF SHAWN VENASSE - Sales Representative (The Elli Davis Team @ Royal LePage Real Estate Services Ltd., Brokerage)
55 St Clair Avenue West, TORONTO, ON M4V 2Y7 / PHONE: 416-921-1112 (office) EMAIL: shawn@ellidavis.com WEB: www.shawnvenasse.com