January 2019 Market Report

4,009 home sales were reported through the Toronto Real Estate Board MLS in January 2019, up by 0.6 per cent compared to January 2018. The average selling price was up by 1.7 per cent for the month year-over-year.

The first month of this year continues to show the condo market segment leading the way in terms of price growth. This segment is one to watch closely, as data released on February 1, 2019 by Urbanation Inc., which tracks data in the pre-construction condo market in the GTA, indicate that prices of pre-build condo units rose 16 per cent in 2018 to a record of $921 a square foot in the GTA over all, and $1,117 a square foot in central Toronto. Over the past two years, new construction condos prices have climbed by 56 per cent in the GTA, far outpacing price increases for resale condos.

Here you can see the real estate market behaviour for the last 5 years 2014 - 2018.

Here you can see the real estate market behaviour for the last 5 years 2014 - 2018.

January 2019 unit sales and inventories look very similar to Jan 2018

January 2019 unit sales and inventories look very similar to Jan 2018

Screen Shot 2019-02-10 at 8.38.23 PM.png
Months of Inventory is currently at 3 months, exactly how it was a year ago. We are still experiencing a seller’s market.

Months of Inventory is currently at 3 months, exactly how it was a year ago. We are still experiencing a seller’s market.

As you can see, Months of Inventory for Detached sector is a bit higher than it is for the Semi-Detached or Condominium properties due to affordability factor.

As you can see, Months of Inventory for Detached sector is a bit higher than it is for the Semi-Detached or Condominium properties due to affordability factor.

Months of Inventory for regions 416 & 905 in all categories.

Months of Inventory for regions 416 & 905 in all categories.

If you would like to find out what these statistics mean to you, or if you are curious to know how much your property is worth today or how much you can afford to buy, please reach out. 

If you found this article helpful please hit "Like" and "Share".


Comment