Brian Madigan LL.B., Broker
BRMadigan@iSourceRealEstate.com

RE/MAX West Realty Inc.,
Brokerage
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 


Phone: 416-745-2300
Toll Free: 1-888-507-0817

 

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April 2017 Real Estate Market- 3 of 8 Indicators are Down!

May 7, 2017 - Updated: May 7, 2017

April 2017 Real Estate Market- 3 of 8 Indicators are Down!

 

Generally, everyone is excited about the Toronto real estate market being so “hot”.
 

But, when we look at the numbers, things certainly seemed to have cooled off in April.
 

There are two distinct areas in the Greater Toronto area, Toronto proper, referred to as the “416” and the suburbs, being the rest of the GTA, commonly the “905”. Then, we also have to break that down into some market segments, detached, semis, townhouses and condo apartments.
 

Usually, we would look to year over year numbers, but direction can first be noticed in the month to month numbers. So, let’s look at April 2017 and see how it compares to March.
 

The general overall figures for the GTA across all types of buildings for single family homes:
 

$916,709              March
 

$920,791              April
 

$4,082                  increase
 

0.45%                   increase

 

While across the board we do see a slight increase, let’s break down those numbers somewhat.

 

Toronto – 416

 

Detached

 

$1,561,780           March

$1,578,542           April

$16,762                increase

1.07%                   increase

 

Semis

 

$1,089,605           March

$1,104,047           April

$14,442                increase

1.33%                   increase

 

Townhouses

 

$761,128              March

$793,129              April

$32,001                increase

4.20%                   increase

 

Condo Apartments

 

$550,299              March

$578,280              April

$27,981                increase

5.08%                   increase

 

Suburbs in GTA – 905

 

Detached

 

$1,124,088           March

$1,098,827           April

$25,261                decrease

2.25%                   decrease

 

Semis

 

$742,501              March

$727,218              April

$15,283                decrease

2.06%                   decrease

 

Townhouses

 

$690,202              March

$673,942              April

$16,260                decrease

2.35%                   decrease

 

Condo Apartments
 

$440,950              March

$449,792              April

$8,842                  increase

2.01%                   increase

 

COMMENT
 

Of our 8 individual segments, 5 were up, and 3 were down. That should mean something.
 

Detached houses in the City are up by 1.1%, and while that’s still positive, it’s below the 10 year rate of increase.
 

Townhouses in the City were up 4.2% and condos were up 5.1%. The media stories focussed on the Townhouses and the Condos.
 

When we switch over to the rest of the GTA, we actually find that 3 segments are in decline: detached, semis and townhouses. Only one segment is increasing, namely condos in the suburbs, which is the entry level for home ownership.
 

What does this mean? What segments are leading indicators? Where is the market going from here?
 

All in all, we have 5 ups and 3 downs. The ones that are up, are not up by that much. It would certainly suggest that for some segments, March will have been the height of the market and for others it looks like April will be the height. Overall, the market is fading somewhat.
 

If you would like to discuss the market, please give me a call.
 

Brian Madigan LL.B., Broker

www.iSourceRealEstate.com


Tagged with: toronto market april 2017 slightlly down indicators
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Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

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