Toronto Real Estate Market Update - January 2019
Friday Feb 08th, 2019Share
Home sales were up 0.6% and average selling prices were up 1.7% in January 2019 compared to January 2018. Certain asset classes and neighbourhoods continue to outperform while others do not. Buyers and sellers should seek the advice of a professional REALTOR®️ before making any decisions in the present market.
On February 6th I was privileged to attend an exclusive economic summit hosted by the Toronto Real Estate Board where industry representatives and leaders came together to discuss the findings of TREB's Market Year in Review & Outlook Report. This report provides valuable market insights for the past year and the year ahead. You may access this report below in addition to TREB's monthly market watch report.
TREB's Market Year in Review & Outlook Report
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 January 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.
If you want to know how prices are performing by asset class in your specific neighbourhood or any neighbourhood in the GTA you may be interested in, please click here.
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Single Family Detached Home Price Index
Toronto: -0.76% (1 Month), -1.82% (3 Month), -2.13% (6 Month), +0.77% (1 Year)
Mississauga: -1.43% (1 Month), -2.94% (3 Month), -1.63% (6 Month), -0.58% (1 Year)
Brampton: +1.68% (1 Month), +0.92% (3 Month), +0.33% (6 Month), +5.00% (1 Year)
Vaughan: -3.22% (1 Month), -5.02% (3 Month), -6.16% (6 Month), -6.00% (1 Year)
Richmond Hill: -1.51% (1 Month), -2.23% (3 Month), -5.56% (6 Month), -4.57% (1 Year)
Markham: -0.84% (1 Month), -1.62% (3 Month), -3.13% (6 Month), -4.32% (1 Year)
Condominium Apartment Home Price Index
Toronto: -0.57% (1 Month), -0.08% (3 Month), +1.39% (6 Month), +9.08% (1 Year)
Mississauga: +1.07% (1 Month), +4.81% (3 Month), +5.29% (6 Month), +13.60% (1 Year)
Brampton: +1.99% (1 Month), +2.52% (3 Month), +4.48% (6 Month), +10.22% (1 Year)
Vaughan: -1.18% (1 Month), -2.07% (3 Month), -2.42% (6 Month), +1.21% (1 Year)
Richmond Hill: -0.27% (1 Month), +1.17% (3 Month), -1.10% (6 Month), +3.16% (1 Year)
Markham: +2.33% (1 Month), -0.32% (3 Month), +4.97% (6 Month), +7.70% (1 Year)
*How to use these numbers: If on January 1, 2019 the price of a condo in Toronto was $500,000, it would be worth $497,150 on January 31 31, 2019 based on the Toronto home price index (HPI). That $500,000 condo depreciated $2,850 in January or $91.94 per day.
Prepared by Michael De Luca, Real Estate Sales Representative at Private Service Realty (PSR), Brokerage