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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!

November 2010 report from TREB!

The average prices and the number of sales, once again, both were very strong last month.

 

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

All the best!
Mark

GTA REALTORS® Report Monthly Resale Housing Figures

This is the latest press release from TREB regarding the October real estate market in the GTA

October Price Growth Reflects Healthy Housing Market Conditions

November 3, 2010 -- Greater Toronto REALTORS® reported 6,681 sales through the Multiple Listing Service® (MLS®) in October 2010. This represented a 21 per cent decrease compared to the 8,476 sales recorded in October 2009. Through the first ten months of the year, sales amounted to 75,582 – up one per cent compared to the January through October period in 2009.

"The annual change in sales and average selling prices has been quite uniform across the GTA and by property type as the market has balanced out from record levels of sales in the second half of 2009 and first few months of 2010," said Toronto Real Estate Board (TREB) President Bill Johnston.

"The composition of GTA home sales does differ depending on location. Condominium apartments accounted for 42 per cent of total sales in the City of Toronto and almost 60 per cent of sales in TREB's central districts," Johnston continued. "In regions surrounding the City of Toronto, in contrast, low rise home types accounted for almost 90 per cent of transactions."

The average price for October transactions was $443,729 – up five per cent compared to the average of $423,559 reported in October 2009. The average selling price through the first nine months of the year was $430,802.

"The average selling price in the GTA has continued to grow relative to 2009 because home ownership has remained affordable," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of Market Analysis. "A household earning the average income in the GTA can comfortably afford the mortgage payments associated with the purchase of an average priced home."

"The outlook for mortgage rates and income growth over the next year is favorable. The average home selling price could increase moderately next year and remain affordable for the average GTA household," continued Mercer.

Median Price
In October, the median price was $366,000, from the $357,000 recorded during October of 2009.

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.

 

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

 

I hope this finds you Happy and Healthy!

All the Best!

Mark

SUMMARY OF October SALES AND AVERAGE PRICE 2009 - 2008

SUMMARY OF July SALES AND AVERAGE PRICE 2009 - 2008

SUMMARY OF APRIL SALES AND AVERAGE PRICE 2009 - 2008

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Greater 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. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest real estate board.

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

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!

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

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	August of 2008

 

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

January 2008 Sales figures

• 1,940 sales were reported in TREB’s 28 West districts and averaged $351,594
• 945 sales were reported in the 14 Central districts and averaged $485,259
• 966 sales were reported in the 23 North districts and averaged $410,289
• 1,224 sales were reported in TREB’s 21 East districts and averaged $296,838

See 2007 year sales figures
See 2006 year sales figures
See 2005 year sales figures
See 2004 year sales figures

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.

Archived issues of my TREB Market Watch reports

• 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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