Tag Archives: TREB

GREATER TORONTO REALTORS® REPORT Q1 RENTAL MARKET STATISTICS

TORONTO, April 15, 2014 – Toronto Real Estate Board President Dianne Usher announced that strong growth in rental transactions and rental listings was reported by Greater Toronto REALTORS® during the first quarter of 2014. For condominium apartments in particular, total rental transactions were up by 17.8 per cent compared to the first quarter of 2013. The total number of units listed was up by an even greater 27.7 per cent.

“Renters took advantage of an increased supply of investor-owned units listed for rent in the first quarter. These units, with modern finishes, choice amenities and locations in popular neighbourhoods attracted a growing number of renter households, including young professionals moving close to work in downtown Toronto and new comers to Canada who initially chose to rent,” said Ms. Usher.

One-bedroom units accounted for approximately 60 per cent of total condominium apartment rentals in Q1 2014. The average one-bedroom rent was down by 1.6 per cent to $1,573. Two-bedroom condominium apartments accounted for 36 per cent of transactions. The average two-bedroom rent was up by 1.9 per cent to $2,155.

“The condominium apartment rental market has become better supplied over the past 12 months as a number of new projects reached the completion stage. While rental demand has remained strong, and many investor-owned rental units have been absorbed, the increase in supply has given prospective renters more choice, so the pace of average rent growth has moderated,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

First-Quarter-Rental-Summary-2014-TREB

Source: Toronto Real Estate Board (TREB)

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Toronto Real Estate Board Update: February 2010, GTA REALTORS® REPORT MID-FEBRUARY RESALE HOUSING MARKET FIGURES

TORONTO, February 18, 2010 — Greater Toronto REALTORS reported 3,555 sales through the Multiple Listing Service during the first two weeks of February.

This represented a 74 per cent increase compared to the 2,044 sales recorded during the same period in 2009 when resale transactions had dipped due to the recession. The February mid-month sales total was also 7.7 per cent above the previous high set in 2006.

“Home ownership demand remains strong in the GTA, as households remain confident that economic recovery is at hand and that ownership housing will continue to be a quality long-term investment,” said Toronto Real Estate Board President Tom Lebour.

The average price for February mid-month transactions was $429,997 – an 18 per cent increase over 2009. New Listings within the Toronto Real Estate Board boundaries were up 15 per cent to 6,212.

“Double-digit price increases will persist through the first quarter of the year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis. “However, as new listings continue to increase creating a better supplied market, we will see the annual rate of price growth moderate into the single digits.”

Source: TREB (Toronto Real Estate Board)

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Greater Toronto REALTORS® report 8,107 Resales in April

In April 2009, Greater Toronto REALTORS® reported 8,107 sales – down seven per cent from April 2008. While April sales remained lower than last year, the resale housing market gained momentum on a month-over-month basis. The seasonally adjusted annual rate of sales in April, at 80,900, was up 26 per cent from March and up two thirds compared to January’s ten-year low.

“Conditions in the resale housing market have improved markedly this spring,” according to
TREB President Maureen O’Neill. “Home purchases have increased as households have taken
advantage of low interest rates and slightly lower home prices.”

The average price for April transactions was $385,641 – down three per cent from last year.

“The rate of average price decline continued to diminish last month. This is due in large part to a
tightening in the resale market,” stated Jason Mercer, TREB’s Senior Manager of Market
Analysis. “The level of sales relative to new listings increased in April.”

Source: TREB (Toronto Real Estate Board)

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Toronto Real Estate Board Novemeber Update: Over 3,600 Greater Toronto Area Resale Housing Sales in November

TORONTO, December 04, 2008 — Greater Toronto REALTORS® recorded 3,640 transactions last month, from 7,313 sales in November 2007, Toronto Real Estate Board President Maureen O’Neill announced today.

Year-to-date sales figures for the Greater Toronto Area show 72,086 transactions in 2008, from 88,695 sales recorded in the same January to November period a year ago. By contrast, the 2008 year-to-date average price in the GTA is $379,489, from $375,445 in 2007.

“Its important for the public to understand that while sales activity has moderated in 2008, due to current economic conditions, the average price of homes has increased from 2006 still making real estate a solid long term investment,” said O’Neill.

In the 416 area, 1,523 transactions took place last month, from 3,426 sales recorded in November 2007. From a year-to-date perspective, there have been 28,806 sales in the 416 area this year, from 36,804 transactions a year ago.

In the 905 Region 2,117 homes changed hands last month, from November 2007’s 3,887 sales. The 905 Region’s year-to-date figures show 43,280 transactions this year, from 51,891 sales recorded during the same period in 2007.

“Homeownership in the Greater Toronto Area continues to be an affordable, stable and secure investment,” said Ms. O’Neill. “Home buyers and sellers should be confident about their bricks and mortar investment which provides shelter and a place to raise a family.”

“Home prices are affordable, interest rates are at historical low levels and the supply of homes for sale is good providing additional reasons for buyers thinking of entering the market,” added O’Neill.

The average price of a home in the GTA last month was $368,582, from $393,747 noted in November 2007. In November 2006 the average price was recorded at $355,727.

In the 416 area, last month’s average price was $390,225, from $433,859 noted in November 2007. The average price recorded in November 2006 was $381,188. From a year-to-date perspective the 2008 average price in the 416 area is $411,155, from last year’s $411,640.

In the 905 Region, the average price recorded last month was $353,012, from $358,391 recorded in November of 2007. In November 2006 the average price was $335,522. The year-to-date average price in the 905 Region this year is $359,245, from $349,774 in 2007.

The average number of days a home currently remains on the market in the GTA is 41, from an average of 32 days last November. There are currently 27,037 homes listed on the TorontoMLS system compared to 18,309 available properties in November 2007.

“While homeownership offers immediate benefits and long term value by way of equity, it also provides tax benefits over time,” said Ms. O’Neill. “If you bought a house five years ago, it would be worth more than 20 per cent more today.”

“As REALTORS®, we help build communities and will continue to do so even during challenging economic times,” added Ms. O’Neill. “It’s important to consult with a REALTOR® to get accurate local market information.”

Source: TREB (Toronto Real Estate Board)

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