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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Toronto mid-July 2017 Statistics from TREB

July 26, 2017 - Updated: July 26, 2017

Toronto mid-July 2017 Statistics from TREB

 

This is the recent report from TREB:

 

“TREB MID-MONTH STATISTICS July 20, 2017 –

 

Greater Toronto Area REALTORS® reported 2,670 residential transactions through TREB’s MLS® System during the first 14 days of July 2017.

 

This result was down 39.3 per cent compared to the same period in 2016. The greatest year-over-year decline in sales was noted for the detached market segment. The lowest annual rate of decline was noted for the condominium apartment market segment.

 

The number of new listings entered into the system was up by 6.5 per cent year-over-year. While still up compared to last year, the annual rate of growth for new listings has declined markedly, from over 40 per cent in mid-May, and over 20 per cent in mid-June, to less than seven per cent in mid-July.

 

With sales down and new listings up year-over-year, the market was better supplied compared to last year. This translated into a more moderate 7.4 per cent annual growth rate for the average selling price, which was $760,356 for all home types combined.

 

When breaking down average price growth by geography, an interesting dichotomy has developed between the City of Toronto and the surrounding ‘905’ area code regions for some market segments.

 

The annual growth rate for the average detached price in the ‘416’ area code was 12.1 per cent, compared to 2.7 per cent for the ‘905’ regions. The annual growth rate for the average condominium apartment price was 30.5 per cent in the ‘416’ area code versus 12.4 per cent in the surrounding ‘905’ regions.”

 

COMMENT

 

Transactions off by 40% compared to same time last year. The market has “cooled”.

 

Rate of growth of new listings: 40% May, 20 June, 7% July. Again, this illustrates a slowing of the market in the last three months.

 

Toronto

 

Prices 416                      2017                     Change from 2016

 

Detached                        $1,309,875           up 12.1%

 

Semi-detached               $840,669              down 3.0%

 

Townhouse                    $685,984              up 18.9%

 

Condo                            $548,919              up 30.5%

 

Suburbs

 

Prices 416                      2017                     Change from 2016

 

Detached                        $923,008              up 2.7%

 

Semi-detached               $649,532              up 9.8%

 

Townhouse                    $591,713              up 13.7%

 

Condo                            $413,755              up 12.4.5%

 

You will notice that there are 8 indicators. Compared to last year, and that means the first two weeks of July, the prices are all up with the exception of Townhouses in the City.

 

Brian Madigan LL.B., Broker

www.iSourceRealEstate.com


Tagged with: treb statistics mid july 2017
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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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