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February 2017 Market Watch - JUST RELEASED
1. Toronto Employment
Growth
December 2016 (0.4%)
Month February 2017
1 Year
3 Year
5 Year
3.14%
3.39%
4.64%
February 2017
1 Year
3 Year
5 Year
--
--
--
Market Watch
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(416) 443-8158
For All Media/Public Inquiries:
(416) 443-8152
Sales Up and Listings Down in February
TORONTO, March 3, 2017 – Toronto Real Estate Board President Larry Cerqua announced that
Greater Toronto Area REALTORS® reported 8,014 residential sales through TREB’s MLS®
System in February 2017. Despite the fact that February 2016 had one more day due to the
leap year day, this result was up on a year-over-year basis by 5.7 per cent compared to 7,583
sales reported last year.
“The February statistics tell me that many Greater Toronto Area households continue to view
home ownership as a great long-term investment. The high demand for ownership housing
we’re seeing is broad-based, with strong sales growth for most low-rise home types and
condominium apartments. This makes sense given the results of a recent consumer survey
undertaken for TREB by Ipsos, which found an even split between intending first-time buyers
and existing homeowners who indicated that they were planning on purchasing a home in
2017,” said Cerqua.
While the demand for ownership housing grew over the past year, new listings entered into
TREB's MLS® System in February were down on a year-over-year basis by 12.5 per cent to
9,834.
The MLS® HPI Composite Benchmark Price was up by 23.8 per cent compared to February
2016. Similarly, the average selling price was up by 27.7 per cent year-over-year to $875,983.
Annual rates of price growth continued to be strongest for low-rise home types, particularly
detached houses. Growth rates for condominium apartment prices were also in the double
digits, likely a result of strong demand from first-time buyers.
"The listing supply crunch we are experiencing in the GTA has undoubtedly led to the double-
digit home price increases we are now experiencing on a sustained basis, both in the low-rise
and high-rise market segments. Until we see a marked increase in the number of homes
available for sale, expect very strong annual rates of price growth to continue," said Jason
Mercer, TREB's Director of Market Analysis.
TREB MLS® Sales Activity
8,014 7,583
February 2017 February 2016
TREB MLS® Average Price
$875,983
$685,738
February 2017 February 2016
Year-Over-Year Summary
2017 2016 % Chg.
Sales
New Listings
Active Listings
Average Price
Average DOM
8,014 7,583 5.7%
9,834 11,234 -12.5%
5,400 10,902 -50.5%
$875,983 $685,738 27.7%
13 21 -38.1%
Sources and Notes:
i - Statistics Canada, Quarter-over-quarter
growth, annualized
ii - Statistics Canada, Year-over-year
growth for the most recently reported
month
iii - Bank of Canada, Rate from most
recent Bank of Canada announcement
iv - Bank of Canada, Rates for most
recently completed month
Real GDP Growth
Q3 2016 3.5%
Toronto Unemployment
Rate
December 2016 6.8%
Inflation Rate (Yr./Yr. CPI
Growth)
January 2017 2.1%
Bank of Canada Overnight
Rate
February 2017 -- 0.50%
Prime Rate
February 2017 -- 2.70%
Economic Indicators
Metrics Sales Average Price
416 905 Total 416 905 Total
2017
Detached
Semi - Detached
Townhouse
Condo Apartment
793 2,928 3,721 $1,573,622 $1,106,201 $1,205,815
199 452 651 $1,085,484 $712,276 $826,359
257 908 1,165 $671,243 $653,584 $657,480
1,632 728 2,360 $515,424 $404,460 $481,194
Sales & Average Price By Major Home Type
February 2017
February 2017
i
ii
ii
iii
iv
Detached
Semi - Detached
Townhouse
Condo Apartment
29.8% 35.4% 32.5%
27.6% 33.2% 29.4%
15.7% 32.4% 28.0%
18.2% 23.6% 19.2%
Detached
Semi - Detached
Townhouse
Condo Apartment
-6.8% 6.0% 3.0%
-16.0% -6.2% -9.5%
2.4% 7.7% 6.5%
14.0% 20.3% 15.9%
1,7
1,7
1,7
1,7
Year-Over-Year Per Cent Change
Mortgage Rates
2. Toronto Real Estate Board
Market Watch, February 2017
SALES BY PRICE RANGE AND HOUSE TYPE FEBRUARY 2017
2
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
0 0 0 0 4 0 0 0 0 4
0 0 0 5 46 0 2 0 1 54
6 0 0 29 242 0 2 0 2 281
36 16 5 82 742 0 1 0 1 883
95 24 36 131 580 6 0 2 0 874
202 74 95 108 328 18 0 2 0 827
324 145 180 96 167 7 0 1 0 920
431 127 95 46 105 8 0 1 0 813
429 97 90 14 48 20 0 0 0 698
402 60 51 9 20 15 0 0 0 557
494 57 49 11 36 19 0 0 0 666
449 25 17 12 17 6 1 1 0 528
303 8 1 1 9 0 0 0 0 322
189 4 0 0 5 0 0 0 0 198
361 14 0 2 11 0 1 0 0 389
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
0 0 0 0 9 0 0 0 0 9
1 0 0 9 86 0 3 0 2 101
16 0 0 54 479 0 3 0 4 556
72 29 16 144 1,323 2 2 0 2 1,590
210 41 93 231 938 17 0 2 1 1,533
402 158 201 184 517 34 0 2 0 1,498
603 264 266 137 263 21 0 3 0 1,557
731 200 154 60 156 14 0 1 0 1,316
678 146 125 28 79 33 0 0 0 1,089
593 87 83 13 29 27 0 0 0 832
766 82 73 17 51 24 0 0 0 1,013
674 33 24 17 28 8 1 1 0 786
443 11 3 4 15 0 0 0 0 476
266 6 1 0 5 0 0 0 0 278
519 15 0 3 16 0 1 0 0 554
SALES BY PRICE RANGE AND HOUSE TYPE YEAR-TO-DATE, 2017
Total Sales
Share of Total Sales
Average Price
3,721 651 619 546 2,360 99 7 7 4 8,014
46.4% 8.1% 7.7% 6.8% 29.4% 1.2% 0.1% 0.1% 0.0% 100.0%
$1,205,815 $826,359 $742,413 $561,191 $481,194 $841,660 $669,657 $672,386 $257,000 $875,983
Total Sales
Share of Total Sales
Average Price
5,974 1,072 1,039 901 3,994 180 10 9 9 13,188
45.3% 8.1% 7.9% 6.8% 30.3% 1.4% 0.1% 0.1% 0.1% 100.0%
$1,154,440 $788,214 $720,369 $550,211 $465,502 $787,889 $537,250 $665,189 $277,889 $834,144
1,7
1,7
27. Toronto Real Estate Board
Market Watch, February 2017
HISTORIC ANNUAL STATISTICS
27
Year Sales Average Price
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
84,145 $335,907
83,084 $351,941
93,193 $376,236
74,552 $379,347
87,308 $395,460
85,545 $431,276
89,096 $465,014
85,496 $497,130
87,049 $522,958
92,782 $566,624
101,213 $622,121
2016 MONTHLY STATISTICS
NOTES
1 - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TREB MLS® system between the
first and last day of the month/period being reported.
2 - New listings entered into the TREB MLS® system between the first and last day of the month/period being reported.
3 - Active listings at the end of the last day of the month/period being reported.
4 - Ratio of the average selling price to the average listing price for firm transactions entered into the TREB MLS® system between the first and last day
of the month/period being reported.
5 - Average number of days on the market for firm transactions entered into the TREB MLS® system between the first and last day of the month/period
being reported.
6 - Due to past changes to TREB's service area, caution should be exercised when making historical comparisons.
7 - Past monthly and year-to-date figures are revised on a monthly basis.
8 - SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9 - Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
2017 MONTHLY STATISTICS
*For historic annual sales and average price data over a longer time frame go to:
January
February
March
April
May
June
July
August
September
October
November
December
Year to Date
5,174 $769,339
8,014 $875,983
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
13,188 $822,661
January
February
March
April
May
June
July
August
September
October
November
December
Annual
4,640 $630,193
7,583 $685,738
10,260 $688,011
12,017 $739,767
12,791 $752,266
12,727 $746,956
9,932 $710,556
9,750 $711,001
9,831 $756,117
9,720 $762,767
8,507 $777,301
5,313 $730,559
113,071 $729,918
1,6,7
1,7
1,7
http://www.torontorealestateboard.com/market_news/market_watch/historic_stats/p
df/TREB_historic_statistics.pdf
Copyright® 2017 Toronto Real Estate Board
$834,14413,188