You might be wondering, “How’s the Toronto real estate market doing?” Depending on who you speak with, you might get different opinions. To provide a bit of clarity, I’ve taken the Toronto real estate statistics from the Toronto Real Estate Board and compiled them into useful visual charts you can use to gauge just how the Toronto real estate market is performing. Have a look at the key indicators shown below to see if prices are going to go up, down or sideways.
Toronto Real Estate Statistics: Total Sales
Whenever you hear in the news “sales went up by X” or “sales are down by Y” — this is what we’re referring to. The following Toronto real estate statistics graph shows the total real estate sales recorded of all property types (freehold and condos) throughout the Toronto Real Estate Board area. Because of seasonality, you will see monthly fluctuations so we should compare them on a year-to-year basis.
The following graph shows the number of new listings that are introduced to the real estate market on a month-to-month basis. The yearly comparison is used to show seasonal fluctuations. It can be used to gauge how actively sellers are listing their properties for sale. More listings create greater inventory (leading to a balanced market or lower prices) while fewer listings create a tight inventory (resulting in rapid price increases and multiple offers).
The following graph shows how many active listings (listings available for sale) are on the Toronto Real Estate board at a given time. A year-to-year comparison is shown to illustrate seasonal fluctuations. More active listings means greater supply, while less active listings means fewer supply. Greater supply usually results in decreasing prices, while fewer supply usually results in increasing prices.
This chart shows the average price of all property types (freeholds and condos) sold on the Toronto Real Estate Board. Typically you’ll see the average price increase year after year. I’ve shown you how the trend looks like on a monthly basis to show seasonality, while comparing year-to-year average prices to show you the overall trend.
Average Days on Market
How long are homes taking to sell? If you’ve ever wondered what “DOM” meant on a listing, it means days-on-market. Basically, how many days has a property been listed. The average DOM or days-on-market figure shows you if listings are taking a long time to sell, or if they’re selling very quickly. When markets are hot, DOM decreases because listings take fewer days to sell. When markets are cool, DOM increases as listings take longer to sell. The graph below will show you this, and I’ve included year-to-year comparisons since seasonality affects days-on-market.
A look back at the total number of sales annually as reported by the Toronto Real Estate Board since 1972. This gives you an idea of the long term activity of how many properties are selling and the current sales trend in comparison to previous years.
Historical Average Price
The average price of properties sold by year starting from 1972 up to present. This gives you a glimpse of where prices are today versus previous years and what direction prices are going.
Canada Interest Rate
For your reference, a historical look at Canada’s benchmark interest rate, which average 5.89% from 1990 until 2018, reaching an all time high of 16% in February 1991 and a record low of 0.25% in April 2009.
Average Toronto house prices
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*Information is based on data provided by the Toronto Real Estate Board and is intended for illustrative purposes only.