TORONTO, June 03, 2020 (GLOBE NEWSWIRE) -- Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for May 2020:
TRREB MLS® System Sales and New Listings
“While the public health and economic concerns surrounding COVID-19 continue to impact the housing market, the May sales result represented a marked improvement over April. TRREB released updated Ipsos consumer intentions polling results in May that indicated that 27 per cent of GTA households were likely to purchase a home over the next year. Providing we continue to see a gradual re-opening of the economy, it is very possible that home sales will continue to improve in the coming months,” said Mr. Collins.
“As we move toward recovery, the housing sector will be a key driver of growth as consumer confidence increases and more households look to take advantage of very low borrowing costs. It will be important for policy makers at all levels of government to continue, and indeed enhance their efforts to bring on line a greater diversity of ownership and rental housing supply. This will help avoid the pace of home price growth accelerating to unsustainable levels,” said TRREB CEO John DiMichele.
Home Prices
“With home sales and new listings continuing to trend in unison in May, market conditions remained balanced. This balance was evidenced by year-over-year average price growth slightly above the Bank of Canada’s long-term target for inflation. If current market conditions are sustained during the gradual re-opening of the GTA economy, a moderate pace of year-over-year price growth could continue as we move through the spring and summer months,” said Jason Mercer, TRREB’s Chief Market Analyst.
Condominium Apartment Rental Market
Summary of TREB MLS® Sales and Average Price May 1 - 31, 2020 | |||||||
2020 | 2019 | ||||||
Sales | Average Price | New Listings | Sales | Average Price | New Listings | ||
City of Toronto ("416") | 1,491 | 955,273 | 3,312 | 3,697 | 936,852 | 6,654 | |
Rest of GTA ("905") | 3,115 | 819,719 | 5,792 | 6,253 | 779,950 | 12,740 | |
GTA | 4,606 | 863,599 | 9,104 | 9,950 | 838,248 | 19,394 |
May 2020 Year-Over-Year Per Cent Change in the MLS® HPI | ||||||||||
Composite (All Types) | Single-Family Detached | Single-Family Attached | Townhouse | Apartment | ||||||
TREB Total | 9.43% | 7.55% | 8.92% | 10.28% | 12.19% | |||||
Halton Region | 8.72% | 7.61% | 8.68% | 10.68% | 10.21% | |||||
Peel Region | 11.09% | 8.93% | 10.20% | 12.10% | 16.70% | |||||
City of Toronto | 9.79% | 7.57% | 7.83% | 8.87% | 11.41% | |||||
York Region | 8.62% | 7.70% | 8.87% | 7.85% | 12.44% | |||||
Durham Region | 9.27% | 8.40% | 10.02% | 13.24% | 11.79% | |||||
Orangeville | 9.48% | 9.53% | 11.68% | - | - | |||||
South Simcoe County1 | 8.43% | 3.29% | 11.73% | - | - | |||||
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 | ||||||
2020 | 2019 | |||||
Sales | Average Price | New Listings | Sales | Average Price | New Listings | |
City of Toronto ("416") | 9,344 | 952,804 | 16,591 | 12,727 | 875,415 | 23,364 |
Rest of GTA ("905") | 17,969 | 839,784 | 31,582 | 22,310 | 764,558 | 46,522 |
GTA | 27,313 | 878,449 | 48,173 | 35,037 | 804,826 | 69,886 |
Annual TREB MLS® Sales & Average Price By Home Type Year-to-Date 2020 | ||||||||||||
Sales | Average Price | |||||||||||
416 | 905 | Total | 416 | 905 | Total | |||||||
Detached | 2,683 | 10,258 | 12,941 | 1,424,412 | 979,402 | 1,071,664 | ||||||
Yr./Yr. % Change | -25.8% | -15.9% | -18.1% | 7.5% | 7.6% | 6.6% | ||||||
Semi-Detached | 787 | 1,734 | 2,521 | 1,137,429 | 740,735 | 864,574 | ||||||
Yr./Yr. % Change | -32.3% | -19.4% | -24.0% | 8.5% | 9.1% | 7.0% | ||||||
Townhouse | 969 | 3,672 | 4,641 | 815,526 | 680,068 | 708,351 | ||||||
Yr./Yr. % Change | -25.4% | -20.0% | -21.2% | 5.9% | 9.8% | 8.5% | ||||||
Condo Apartment | 4,853 | 2,052 | 6,905 | 693,282 | 523,244 | 642,750 | ||||||
Yr./Yr. % Change | -26.2% | -32.2% | -28.1% | 11.5% | 11.6% | 12.1% | ||||||
TREB MLS® Sales By Home Type May 1 - 31, 2020 | ||||||||||||||||||||||||||
Home Type | ||||||||||||||||||||||||||
All Types | Detached | Semi- Detached | Townhouse | Condo Apartment | Other Types | |||||||||||||||||||||
All Areas | Sales | 4,606 | 2,285 | 463 | 815 | 1,002 | 41 | |||||||||||||||||||
Yr./Yr. % Chg. | -53.7% | -50.6% | -54.4% | -50.7% | -60.4% | -66.7% | ||||||||||||||||||||
Halton | Sales | 497 | 272 | 25 | 143 | 50 | 7 | |||||||||||||||||||
Yr./Yr. % Chg. | -51.0% | -48.6% | -55.4% | -49.5% | -62.1% | -50.0% | ||||||||||||||||||||
Peel | Sales | 927 | 442 | 143 | 206 | 133 | 3 | |||||||||||||||||||
Yr./Yr. % Chg. | -56.9% | -54.2% | -57.8% | -52.0% | -67.1% | -76.9% | ||||||||||||||||||||
Toronto | Sales | 1,491 | 432 | 164 | 164 | 727 | 4 | |||||||||||||||||||
Yr./Yr. % Chg. | -59.7% | -63.1% | -59.7% | -55.1% | -58.0% | -81.8% | ||||||||||||||||||||
York | Sales | 692 | 428 | 64 | 130 | 61 | 9 | |||||||||||||||||||
Yr./Yr. % Chg. | -54.7% | -51.1% | -41.8% | -58.3% | -69.0% | -73.5% | ||||||||||||||||||||
Durham | Sales | 770 | 536 | 49 | 149 | 24 | 12 | |||||||||||||||||||
Yr./Yr. % Chg. | -34.3% | -33.2% | -41.0% | -28.0% | -59.3% | -42.9% | ||||||||||||||||||||
TREB MLS® Average Price By Home Type May 1 - 31, 2020 | |||||||||||||||||||
Home Type | |||||||||||||||||||
All Types | Detached | Semi-Detached | Townhouse | Condo Apartment | Other Types | ||||||||||||||
All Areas | Average Price | $863,599 | $1,033,341 | $867,717 | $686,854 | $625,445 | $690,605 | ||||||||||||
Yr./Yr. % Chg. | 3.0% | -0.9% | 4.8% | 3.1% | 6.0% | 2.2% | |||||||||||||
Halton | Average Price | $922,833 | $1,129,131 | $786,248 | $701,103 | $515,930 | $830,586 | ||||||||||||
Yr./Yr. % Chg. | 7.8% | 5.6% | 9.3% | 6.9% | 4.2% | 8.2% | |||||||||||||
Peel | Average Price | $807,724 | $993,482 | $752,187 | $652,301 | $491,897 | $760,667 | ||||||||||||
Yr./Yr. % Chg. | 7.1% | 3.2% | 8.4% | 8.0% | 6.0% | -1.1% | |||||||||||||
Toronto | Average Price | $955,273 | $1,422,273 | $1,143,322 | $794,626 | $674,028 | $511,950 | ||||||||||||
Yr./Yr. % Chg. | 2.0% | 2.7% | 8.8% | -0.2% | 5.0% | -3.6% | |||||||||||||
York | Average Price | $1,010,745 | $1,177,151 | $802,832 | $787,959 | $552,769 | $897,778 | ||||||||||||
Yr./Yr. % Chg. | 8.7% | 5.9% | 3.4% | 5.6% | 7.5% | 6.1% | |||||||||||||
Durham | Average Price | $651,590 | $707,239 | $528,857 | $541,151 | $386,133 | $569,333 | ||||||||||||
Yr./Yr. % Chg. | 4.7% | 4.0% | 4.6% | 6.5% | -9.4% | 0.5% |
May 2020 TRREB MLS® System Condominium Apartment Rental Market Summary* | ||||||||||||
Apartment Type | Month/Year | Rentals | Average Rent | |||||||||
One-Bedroom | May. 2020 | 1,290 | $2,086 | |||||||||
May. 2019 | 1,863 | $2,197 | ||||||||||
Yr./Yr. % Chg. | -30.8% | -5.1% | ||||||||||
Two-Bedroom | May. 2020 | 820 | $2,740 | |||||||||
May. 2019 | 1,118 | $2,904 | ||||||||||
Yr./Yr. % Chg. | -26.7% | -5.6% | ||||||||||
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. |
Seasonally Adjusted TRREB MLS® Sales and Average Price1 | ||||||||||||
Sales | Month-over-Month % Chg. | Average Price | Month- over- Month % Chg. | |||||||||
May '19 | 7,356 | 3.9% | $802,162 | 1.9% | ||||||||
June '19 | 7,513 | 2.1% | $812,342 | 1.3% | ||||||||
July '19 | 7,884 | 4.9% | $824,215 | 1.5% | ||||||||
August '19 | 7,989 | 1.3% | $825,904 | 0.2% | ||||||||
September '19 | 7,993 | 0.1% | $837,281 | 1.4% | ||||||||
October '19 | 7,840 | -1.9% | $839,945 | 0.3% | ||||||||
November '19 | 7,835 | -0.1% | $846,374 | 0.8% | ||||||||
December '19 | 7,626 | -2.7% | $874,283 | 3.3% | ||||||||
January '20 | 7,763 | 1.8% | $875,767 | 0.2% | ||||||||
February '20 | 8,902 | 14.7% | $904,450 | 3.3% | ||||||||
March '20 | 6,936 | -22.1% | $894,745 | -1.1% | ||||||||
April '20 | 2,317 | -66.6% | $789,054 | -11.8% | ||||||||
May '20 | 3,549 | 53.2% | $825,674 | 4.6% | ||||||||
Source: Toronto Regional 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. |
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maryg@trebnet.net
416-443-8158
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