February 6, 2019 Battle Team

Market Watch – January 2019 from TREB

Market Watch
GTA REALTORS® Release January Stats

February 6, 2019 — TREB President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 percent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 percent compared to December 2018.

“It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line with TREB’s forecast for higher sales in the calendar year 2019,” said Mr. Bhaura.

The MLS® HPI Composite Benchmark price was up by 2.7 percent compared to January 2018. The condominium apartment market segment continued to lead the way in terms of price growth. The average selling price was up by 1.7 percent on a year-over-year basis. After preliminary seasonal adjustment, the average selling price edged lower compared to December 2018.

“Market conditions in January, as represented by the relationship between sales and listings, continued to support moderate year-over-year price increases, regardless of the price measure considered. Given housing affordability concerns in the GTA, especially as it relates to mortgage qualification standards, we have seen tighter market conditions and stronger price growth associated with higher density low-rise home types and condominium apartments, which have lower average selling prices compared to single detached homes,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

Click here to download full report – Market Watch – January 2019

, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit us on Social Media!

QUESTION? READY TO WORK WITH US?

Have an inquiry?

Thank You for getting in touch! We’ll be back to you shortly.

Sure! Ask us anything, anytime! No inquiry is too small or too silly!

Either email us at info@buyselltoronto.com, call at 416-236-1871 or text us at 416-451-2190.

Or fill out the form below and we’ll get back to you shortly!

Your Email(required)

Your Phone(required if you would prefer texting)

What Can We Help You With? smily-face

How would you like us to contact you?

EmailPhoneText

We Promise Not To Spam You Or Fill Your Inbox With Junk

X
CONTACT US