Market conditions continued to tighten in November as the number of sales outpaced new listings. Sales were up by 14.2% compared to November 2018 while new listings were down 17.9%. The average price for all homes was up 7.1% on a year-over-year basis.
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 November 30, 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: +0.69% (1 Month), +1.74% (3 Month), +1.47% (6 Month), +3.75% (1 Year)
Mississauga: +0.47% (1 Month), +0.35% (3 Month), +1.02% (6 Month), +4.74% (1 Year)
Brampton: 0.00% (1 Month), +1.11% (3 Month), +2.36% (6 Month), +6.99% (1 Year)
Vaughan: +0.65% (1 Month), +0.90% (3 Month), +1.44% (6 Month), +3.39% (1 Year)
Richmond Hill: +1.48% (1 Month), +2.05% (3 Month), +1.30% (6 Month), +0.24% (1 Year)
Markham: +0.39% (1 Month), +0.36% (3 Month), +1.26% (6 Month), +1.70% (1 Year)
Condominium Apartment Home Price Index
Toronto: +0.81% (1 Month), +1.92% (3 Month), +3.62% (6 Month), +9.49% (1 Year)
Mississauga: 2.50% (1 Month), +4.78% (3 Month), +5.95% (6 Month), +16.44% (1 Year)
Brampton: +1.54% (1 Month), +5.06% (3 Month), +10.04% (6 Month), +14.72% (1 Year)
Vaughan: 1.60% (1 Month), +2.27% (3 Month), +1.52% (6 Month), +4.69% (1 Year)
Richmond Hill: +0.21% (1 Month), +0.76% (3 Month), +1.83% (6 Month), +8.36% (1 Year)
Markham: +0.71% (1 Month), +1.34% (3 Month), +4.07% (6 Month), +4.84% (1 Year)
*How to use these numbers: If on November 1, 2019 the value of a condo in Toronto was $600,000, it would be worth $604,860 on November 30, 2019 based on the Toronto home price index (HPI). That $600,000 condo appreciated $4,860 in November or $162 per day.
Prepared by Michael De Luca, Real Estate Sales Representative at Private Service Realty (PSR), Brokerage
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