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September 2019
(416) 443-8158
Economic Indicators GTA REALTORS® Release September 2019 Stats Real GDP Growth
Q2
i
2019
3.7%
Toronto Employment Growth ii
August
2019
4.2%
Toronto Unemployment Rate
August
2019
5.9%
Inflation Rate (Yr./Yr. CPI Growth) ii
August
2019
7,825
6,414
On a preliminary seasonally adjusted basis, the September 2019 sales level remained in virtually the same as the August 2019 result.
The supply of listings continued to be a concern in September 2019, with new listings down by 1.9 per cent year-over-year to 15,611. We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, resulting in the overall number of active 1.75% listings at month-end being well-below last year’s levels. This speaks to tightening market conditions and an accelerating annual rate of price growth. 1.9%
Bank of Canada Overnight Rate iii
September
TORONTO, October 3, 2019 - Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales.
TREB MLS® Sales Activity 1,7
2019
--
2019
--
September 2019
September 2018
TREB MLS® Average Price 1,7
Prime Rate iv
September
----
5.19%
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
On a preliminary seasonally adjusted basis, the September 2019 average selling price was up by 1.2 per cent compared to August 2019.
Sales & Average Price By Major Home Type1,7 September Metrics 2019 Sales Average Price 2019 Detached Semi - Detached Townhouse Condo Apartment
416
905
Total
416
905
Total
909 283 333 1,450
2,707 463 965 621
3,616 746 1,298 2,071
$1,360,623 $1,069,119 $785,890 $636,817
$946,256 $689,950 $639,945 $497,403
$1,050,421 $833,790 $677,387 $595,013
1.2% 7.0% 5.7% 3.3%
4.5% 4.2% 6.5% 9.2%
4.1% 5.1% 6.8% 4.2%
Year-Over-Year Per Cent Change Detached Semi - Detached Townhouse Condo Apartment
Detached 37.9% 26.1% 28.9% Semi - 16.9% Detached 15.1% 12.3% Townhouse 33.2% 18.3% 21.8% Condo22.0% Apartment 15.9% 13.5%
$796,782
11 Year Year 33 Year Year 55 Year Year
$843,115
Mortgage September2019 2019 Month RatesSeptember
The annual rate of price growth in September reached the highest point so far in 2019. The MLS® Home Price Index (HPI) Composite Benchmark was up by 5.2 per cent on a year-over-year basis in September. The average selling price 3.64% for all home types combined was up by a similar annual rate of 5.8 per cent to 3.94% $843,115. 3.95%
September 2019
September 2018
Year-Over-Year Summary Sales New Listings Active Listings Average Price Average DOM
1,7
2019
2018
% Chg.
7,825 15,611 17,254 $843,115 23
6,414 15,921 20,089 $796,782 26
22.0% -1.9% -14.1% 5.8% -11.5%