This document provides a summary of the existing home sales market in the Greater Toronto Area (GTA) for December 2010 and the full year. It includes the following key points:
- Existing home sales in the GTA totaled 4,395 units in December 2010, down 1% from December 2009. The average price in December was $355,000, up from $349,000 the previous year.
- For all of 2010, existing home sales totaled 86,170 units, down slightly from 2009. The average price in 2010 was $431,463, a 9% increase over 2009.
- Market conditions varied throughout 2010, from strong early sales to a slowdown in the summer months due
LCAR Unit 15 - Agency in Real Estate - 14th Edition Revised
Market Watch December 2010 Toronto Homes Resale Statistics
1. SINGLE FAMILY RESIDENTIAL BREAKDOWN
December 2010
1.4 % 6.7% %
28.9 % 0.3
0.1 %
Third Best Year for Existing Home Sales
TORONTO - January 6, 2011
7.9 %
Greater Toronto REALTORS® reported average annual rate of price growth
4,395 existing home sales for the month was five per cent.
of December, bringing the 2010 total
“At the outset of 2010, we were 9.9 % 44.8 %
to 86,170 – down by one per cent
experiencing annual rates of price
compared to 2009.
growth at or near 20 per cent. This
“Market conditions were anything but was the result of extremely tight market
uniform in 2010. We went from super- conditions coupled with the % % we
2.3 fact that Dwelling Type Sales % Median
7.0
charged sales activity during the first were comparing prices to the 0.3 % %
21.5 % trough
0.1 Single Detached 1,971
Detached 97 $450,000
four months of the year, to a marked of the recession at the beginning of Semi Detached
Semi-Detached 434 99 $360,500
drop-off in transactions in the summer 2009,” said Jason Mercer, TREB’s
Condo T.H.
Condo Townhouse 348 97 $277,500
and then in the fall saw sales climb back Senior Manager of Market Analysis.
Condo Apt.
Condo Apt 1,269 97 $285,000
to levels that are sustainable over the 8.5 %
“Balanced market conditions in the Link
Link 62 98 $356,500
longer term,” said TREB President Bill
second half of 2010 resulted in more Attached/Row
Johnston. Att/Row/Twnhouse 294 98 $355,000
moderate home price appreciation,”
12.0 % Co-op Apt.
Co-op Apt 12 95 $138,500
“New Federal Government-mandated continued Mercer. “Expect the average % 48.3
Detached Condo
Det Condo 5 96 $295,000
mortgage lending guidelines, higher selling price to grow at or below five per
borrowing costs and misconceptions cent in 2011. With this type of growth,
about the HST caused a pause in home mortgage carrying costs for the average Housing Market Indicators
buying in the summer. As it became priced home in the GTA will remain AuguNovDec. 2009 Dec. 2010 %Change
clear that the HST was not applicable to affordable for a household earning an Sales 5,541 4,395 (-21%)
the sale price of an existing home and average income.” New Listings 5,506 4,284 (-22%)
buyers realized that home ownership Active Listings* 10,292 11,245 (9%)
remained affordable, market conditions Median Price Days on Market 27 37 (37%)
improved,” continued Johnston. * All figures for single-family dwellings.
In December, the median
The average home selling price in 2010 price was $355,000, from the
was $431,463 – up nine per cent in
comparison to the 2009 average selling
price of $395,460. In December, the
$349,000 recorded during
December of 2009. Inside
District Map ............................................................. 2
Annual Average and Median Price Price Category Breakdown......................................2
East District ............................................................. 3
West District ............................................................ 6
Toronto District ......................................................10
500000 Average Median
North District..........................................................12
400000 Annual Summary ...................................................16
300000 Single Family Comparison ....................................16
200000
100000
0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
16. District Totals
New Active Listed Sales $ Volume Avg Price Med Price Avg DOM Avg Month
Grand Total 4,284 11,245 N/A 4,395 1,907,191,564 433,946 355,000 37 97
Year N/A N/A 153,188 86,170 37,179,185,581 431,463 365,000 27 98
Annual Summary - Single Family
Year *Number of Sales *Average Price Year *Number of Sales *Average Price
1976 19,025 $61,389 2009
1977 20,512 $64,559 January 2,670 $343,632
1978 21,184 $67,333 February 4,120 $361,305
1979 23,466 $70,830 March 6,171 $362,050
1980 26,017 $75,694 April 8,107 $385,641
1981 29,625 $90,203 May 9,589 $395,609
1982 25,336 $95,496 June 10,955 $403,972
1983 30,046 $101,626 July 9,967 $395,414
1984 31,905 $102,318 August 8,035 $387,921
1985 45,509 $109,094 September 8,196 $406,877
1986 52,919 $138,925 October 8,476 $423,559
1987 43,475 $189,105 November 7,446 $418,460
1988 49,381 $229,635 December 5,541 $411,931
1989 38,960 $273,698
1990 26,779 $255,020 Total** 87,308 $395,460
1991 38,144 $234,313
1992 41,703 $214,971 2010
1993 38,990 $206,490 January 4,986 $409,058
1994 44,237 $208,921 February 7,291 $431,509
1995 39,273 $203,028 March 10,430 $434,696
1996 55,779 $198,150 April 10,898 $437,600
1997 58,014 $211,307 May 9,470 $446,593
1998 55,344 $216,815 June 8,442 $435,034
1999 58,957 $228,372 July 6,564 $420,482
2000 58,343 $243,255 August 6,232 $411,012
2001 67,612 $251,508 September 6,310 $427,329
2002 74,759 $275,231 October 6,681 $443,729
2003 78,898 $293,067 November 6,510 $438,030
2004 83,501 $315,231 December 4,395 $433,946
2005 84,145 $335,907
2006 83,084 $351,941 Year-to-Date** 86,170 $431,463
2007 93,193 $376,236
2008 74,552 $379,347
* Due to District revisions, caution should be exercised when undertaking historical comparisons. Please refer to appropriate maps.
**This figure may not equal the sum of all monthly totals, as the year-to-date total reflects sales reported in error and deals that have fallen through since January 1st.
Single Family Dwelling Sales Comparison
Sales Active Listings Average Price
15000 500000
35000
13500
30000
12000
425000
10500 25000
9000
20000
7500 350000
6000 15000
4500 10000 275000
3000
5000
1500
0 0 200000
Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
2009 2010 2009 2010
16 TORONTO REAL ESTATE BOARD