2019 turned out to be a great year for the Greater Toronto Area real estate market. Total sales for the year were 87,825 - up 12.6% compared to 2018 with the average selling price up 4%. Sales for the month of December 2019 were up 17.4% compared to December 2018 and the average price for all homes was up 12%. As we enter 2020, increased sales and a lack of inventory are expected to continue driving prices higher.
Toronto Real Estate Board (TREB) Market Watch Report
Below is a market snapshot of single family detached and condominium apartment price growth by municipality as of December 31, 2019.
The figures cited in this note are an average. Please contact us for neighbourhood specific information so you can make an informed decision if you are thinking about making a move.
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Single Family Detached Home Price Index
Toronto: +0.38% (1 Month), +1.89% (3 Month), +1.93% (6 Month), +5.44% (1 Year)
Mississauga: +0.62% (1 Month), +1.01% (3 Month), +1.21% (6 Month), +6.33% (1 Year)
Brampton: +1.25% (1 Month), +1.85% (3 Month), +3.11% (6 Month), +8.92% (1 Year)
Vaughan: +0.49% (1 Month), +0.65% (3 Month), +1.31% (6 Month), +5.04% (1 Year)
Richmond Hill: -0.66% (1 Month), +0.42% (3 Month), +0.77% (6 Month), +0.84% (1 Year)
Markham: +0.04% (1 Month), +0.97% (3 Month), +0.93% (6 Month), +2.18% (1 Year)
Condominium Apartment Home Price Index
Toronto: +0.45% (1 Month), +2.10% (3 Month), +3.42% (6 Month), +9.07% (1 Year)
Mississauga: 1.01% (1 Month), +5.04% (3 Month), +6.19% (6 Month), +15.00% (1 Year)
Brampton: -0.37% (1 Month), +2.87% (3 Month), +7.74% (6 Month), +14.00% (1 Year)
Vaughan: -0.09% (1 Month), +1.52% (3 Month), +2.18% (6 Month), +6.31% (1 Year)
Richmond Hill: -0.04% (1 Month), -0.46% (3 Month), +1.78% (6 Month), +6.25% (1 Year)
Markham: +0.97% (1 Month), +1.95% (3 Month), +5.32% (6 Month), +9.02% (1 Year)
*How to use these numbers: If on December 1, 2019 the value of a condo in Toronto was $600,000, it would be worth $602,700 on December 31, 2019 based on the Toronto home price index (HPI). That $600,000 condo appreciated $2,700 in December or $87.10 per day.
Prepared by Michael De Luca, Real Estate Sales Representative at Private Service Realty (PSR), Brokerage
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