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TREB (Toronto Real Estate Board) Average Single Family Historical Home Prices and trends for Toronto and Mississauga

In this Issue of my newsletter

• Market update
• Bank Rate
• Interest Rates
• Current Listings
• Power of Sales
• Real Estate News
• My Predictions for 2010 - I'm going out on a limb!

Report as of January 2011!

December 2010 report from TREB!

The average prices and the number of sales, once again, both were very strong last month. Year end results for 2010 are now reported

This is the report for November from the Toronto real estate board and indicates a 'normal' amount of activity and price drop for the month of November.

All the best!
Mark

GTA REALTORS(r) Report Monthly Resale Housing Market Figures

TORONTO, January 6, 2011 -- Greater Toronto REALTORS(r) reported 4,395 existing home sales for the month of December, bringing the 2010 total to 86,170 - down by one per cent compared to 2009.

See the actual figures below.

"Market conditions were anything but uniform in 2010. We went from super-charged sales activity during the first four months of the year, to a marked drop-off in transactions in the summer and then in the fall saw sales climb back to levels that are sustainable over the longer term," said TREB President Bill Johnston.

"New Federal Government-mandated mortgage lending guidelines, higher borrowing costs and misconceptions about the HST caused a pause in home buying in the summer. As it became clear that the HST was not applicable to the sale price of an existing home and buyers realized that home ownership remained affordable, market conditions improved," continued Johnston.

The average home selling price in 2010 was $431,463 - up nine per cent in comparison to the 2009 average selling price of $395,460. In December, the average annual rate of price growth was five per cent.

"At the outset of 2010, we were experiencing annual rates of price growth at or near 20 per cent. This was the result of extremely tight market conditions coupled with the fact that we were comparing prices to the trough of the recession at the beginning of 2009," said Jason Mercer, TREB's Senior Manager of Market Analysis.

"Balanced market conditions in the second half of 2010 resulted in more moderate home price appreciation," continued Mercer. "Expect the average selling price to grow at or below five per cent in 2011. With this type of growth, mortgage carrying costs for the average priced home in the GTA will remain affordable for a household earning an average income."

Home sales in the GTA were spread across a number of different housing types in 2010. Detached homes accounted for 49 per cent of total sales. Condominium apartments accounted for an additional 25 per cent per cent of sales. Other housing types including townhomes and semi-detached houses accounted for the final 26 per cent. In some areas like TREB's central districts the mix was quite different, with condominium apartments accounting for 61 per cent of total sales.

"Ownership housing is available in a diversity of types and price points across the GTA, allowing plenty of choice for first time buyers and experienced home buyers alike. This housing diversity is one factor that continues to make the GTA a popular choice for households and businesses," concluded Johnston.

I hope this finds you Happy and Healthy!

All the Best!

Mark

This chart plots the 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.  Click the chart bellow to see a larger printable version.

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This chart plots the monthly MLS average home price for the current year and the previous three years.  The recurring seasonal trend can be seen along with comparisons to previous years for each month.  You can click the thumbnail below to see a larger printable version.  As well, you can see the season trends in graphical form

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I hope this finds you Happy and Healthy!

All the Best!

Mark

Housing market indicators for November 2010

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SUMMARY OF October SALES AND AVERAGE PRICE 2009 - 2008

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Toronto REALTORS® are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service designed exclusively for REALTORS®. Serving more than 24,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

Below is a Graph showing TREB Historical Average Price Data

• The graph below shows a graph of sales price data obtained directly from the Toronto Real Estate Board showing the average selling price of single family homes from 1985 to date in our GTA marketplace.
• Note the historical trends for spring and fall price increases, where spring typically has a larger increase compared to the fall.
• The benchmark for changes in price is chosen to be the average price of homes at the last height of the market, which was $273,698 in 1989.
• If you want the actual values of prices for every month going back to January 1995, I have them, and would be pleased to E-mail them to you upon request.
• See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!
• You may also see the average mortgage interest rates back to 1979
• Send Mark a request for the actual prices of homes since 1995 or you can call Mark now at 905-828-3434
• Read a report showing how much has the price of real estate escalated in the past 25 years!
• Mississauga Lawyer
• This is an in depth analysis of how and if establishing the impact of housing markets on an economy
• Open the graph below in a new separate window

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See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!

See how the historical 1 year mortgage interest rate compares to the 5 year rate

• Average Price report for 2007
• Average Price report for 2006
• Average Price report for 2005
• Average Price report for 2004

Mississauga District Prices

If the average single family residential price in the GTA continues to increase at 4% per year, the average price would be over $500,000 by 2015 and by 2020 the average price will be over $600,000!

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If Average prices continued to increase from end of 2007 at 4% per year, the average price would be over $475,000 in 6 years ( 2013)

In the beginning of 2007 I made the same graph below and if Average prices continued to increase from 2006 at 4% per year, the average price would be over $460,000 in 7 years ( 2013)

The graph below is one that I made about a year ago and shows how times have changed in 2 years

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Breaking down the total Numbers into TREB Areas for this month

Please browse here if you wish to see all the TREB Sales stats for 2007

This graph shows the last real estate recession in the GTA and how long it took to recover from the drop in the average price

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This is a graphical representation showing the percentage of homes that sold in each price range.

Note the shift when you compare this month to 2 years ago, quite significant!

August 2010

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August of 2008

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Spot sales figures

Last month December 2008 Sales figures

• 993 sales were reported in TREB’s 28 West districts and averaged $338,855
• 473 sales were reported in the 14 Central districts and averaged $479,095
• 491 sales were reported in the 23 North districts and averaged $381,975
• 620 sales were reported in TREB’s 21 East districts and averaged $291,488

Neighbourhood Corner - Mississauga - Each month The Toronto Real Estate Board profiles a neighbourhood and for January of 2006 TREB chose Mississauga!

Mississauga January 2008

There were 647 sales in Mississauga this January, a decline of three per cent over the first month of 2007. The average price came in at $339,655, a one per cent increase over the same time-frame last year. Of these sales, 196 were of detached homes which averaged $516,190, up eight per cent over January '07.

Mississauga 2006

Mississauga (MLS districts W12 to W20) had 608 sales in January, up seven per cent over the figure recorded in January of 2005. These sales averaged $305,464, a two per cent increase over last January. Breaking down the total, there were 201 sales of detached homes, which averaged $448,889; there were 171 sales of condominium apartments, and the average for these was $193,481.

Mississauga 2005

There were 569 sales in the Mississauga area during January, down 12 per cent from the figure recorded in January of 2004. The average price, however, rose seven per cent to $298,503. Breaking down the total, detached homes in Mississauga (203 sales) averaged about $418,655, while semis (121 sales) came in at $279,025.

Neighbourhood Corner January 2004 for Mississauga

The Mississauga area (W-12 through W-20) registered 645 sales in January, down 10 per cent from the 721 recorded during the same time-frame in 2003.  However, the overall average in Mississauga came to $277,594, up seven percent over the $259,207 recorded in January of last year.  Average days-on-market was 43, about the same as the Board-wide figure of 42.

Neighbourhood Corner Information - Mississauga (from January 2003)

In Mississauga (W-12 to W-20) the latter half of this year saw prices climb 10 per cent to $256,824 over the $233,151 recorded for the whole of 2001. Average Days-on-Market in Mississauga was 34, as compared to a city-wide average of 38 days.

Rental Market indicators in the GTA

This chart shows the breakdown of single family residential sales for last month.
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Archived issues of my TREB Market Watch reports

• January 2011
  
  December 2010
• November 2010
• July 2010
• January 2010
  
  
  
• December 2009
• November 2009
• September 2009
• May 2009
• February 2009
• January 2009
  
• December 2008
• November 2008
• October 2008
• September 2008
• August 2008
• June 2008
• May 2008
• April 2008
• March 2008
• February 2008
• January 2008
  
• December 2007
• November 2007
• October 2007
• September 2007
• August 2007
• July 2007
• June 2007
• May 2007
• April 2007
• March 2007
• February 2007
• January 2007
  
• December 2006
• November 2006
• June 2006 issue
• April 2006
• January 2006
• All of 2005
• December 2005

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Next Step in Selling Process

April 9, '51 data 2002 

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