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MARKET WATCH REPORT AND MARKET WATCH BY THE NUMBERS INFOGRAPH

MARKET WATCH REPORT AND MARKET WATCH BY THE NUMBERS INFOGRAPH

For a breakdown of TREB's MLS® System housing figures for April, including average sold prices, the latest rental data and more, view our latest Market Watch report, video, housing market charts, and infograph below:

  • Read the complete Market Watch report for April 2019 here and TREB's News Release here.
  • Market Watch video, which you can view or share with your clients from TREB's YouTube Channel. Plus, you can access an archive of the last six months of videos from the Video Centre on Stratus, under Market Statistics or from the landing page of TREBhome.com under Videos.


  • Housing Market Charts, a series of bar charts that allows you and your clients to compare April's housing figures with those of the previous three years.
  • Market Watch by the Numbers (here), an infograph that offers an illustrative overview of March 2019 with some insight into the GTA rental market. The infograph breaks down the story behind the numbers.

GTA REALTORS® Release APRIL 2019 Stats

TORONTO, ONTARIO, May 6, 2019


Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported a substantial year-over-year increase in home sales in April 2019. The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018. On a preliminary seasonally adjusted basis, sales were up 11.3 per cent compared to March 2019.New listings were also up year-over-year by eight per cent. However, the annual growth rate for new listings was much lower than that reported for sales. This suggests that market conditions continued to tighten which points toward an acceleration in price growth.“The strong year-over-year growth in sales is obviously a good news story and likely represents some catch-up from a slow start to the year. TREB’s sales outlook for 2019 anticipates an increase relative to 2018. It should be noted, however, that growth in new listings is not keeping pace with sales. This points to the ongoing housing supply issue in the GTA. In this regard TREB welcomes the provincial government’s Housing Supply Action Plan announced last week to reduce red tape and improve the mix of housing types. TREB provided input on the Plan through submissions and participation on working groups,” said Mr. Bhaura.The year-over-year rate of price growth generally edged up in April relative to the first three months of the year. The MLS® HPI Composite benchmark was up by 3.2 per cent – the highest rate of growth in more than a year. The average selling price was up by 1.9 per cent to $820,148, representing the strongest annual rate of growth so far in 2019. On a preliminary seasonally adjusted basis, the average selling price was also up by 1.1 per cent compared to March 2019.Price growth continued to be driven by the condominium apartment segment and higher-density low-rise segments. The average price for detached houses dipped year-over-year, specifically in regions surrounding the City of Toronto. The detached market segment, with the highest price point on average, has arguably been hardest hit by measures such as the OSFI stress test.“While sales were up year-over-year in April, it is important to note that they remain well-below April levels for much of the past decade. Many potential home buyers arguably remain on the sidelines as they reassess their options in light of the OSFI-mandated two percentage point stress test on mortgages. Longer term borrowing costs have trended lower this year and the outlook for short-term rates, for which the Bank of Canada holds the lever, is flat to down this year. Unfortunately, against this backdrop, we have seen no movement toward flexibility in the OSFI stress test,” said Jason Mercer, TREB’s Chief Market AnalystToronto Realty Board President Garry Bhaura declared that bigger provincial capital space REALTORS® rumored 7,187 residential sales through TREB's MLS® System in March 2019. This result was inline with 7,188 sales reportable in March 2018. For the primary quarter of 2019, sales were down by one per cent compared to Q1 2018.

"The OSFI stress test continues to impact home buyers' ability to qualify for a mortgage. TREB continues to be In diffrence of opinion that the stress test provisions and mortgage loaning guidelines typically, together with allowable amortization periods for insured mortgages, ought to be reviewed. the availability of listings within the GTA conjointly remains a tangle. Adding a bigger diversity of ownership and rental housing on-line, as well as 'missing middle' home varieties, ought to be a priority of all levels of government. TREB is happy to be participating within the city of Toronto's consultations for the Housing TO – 2020-2030 Action set up, and can actually be raising the availability issue throughout these discussions," said Mr. Bhaura.

"While the city of Toronto's recently declared Housing TO – 2020-2030 Action set up is exciting and commendable and TREB appearance forward to contributive solutions as a Member of the External consultatory Committee, the recently projected increase to the Municipal Land taxation on higher priced properties is problematic. Because the recent city budget method showed, the MLTT is not a property revenue supply from that to fund municipal programs. On prime of this, extra MLTT on higher valued homes may have a trickle-down impact on the availability of homes throughout the housing price time," aforesaid TREB chief operating officer John Di Michele.

The MLS® Home price level Composite Benchmark was up by two.6 per cent year-over-year in March, whereas the typical value for March sales was up by a lesser annual rate of zero.5 per cent to $788,335. the typical terms for Q1 2019 was up by one.1 per cent year-over-year.

"Market conditions have remained tight enough to support a moderate pace of value growth. Despite sales being markedly under the record levels of 2016 and early 2017, the provision of listings has conjointly receded. this implies that in several neighbourhoods throughout the GTA, we tend to still see competition between patrons for out there listings, that provides tier of support for home costs," aforesaid mythical being Mercer, TREB's Chief analyst.

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