COMPARE VANCOUVER & TORONTO at Brian Ripley's Canadian Housing Price Charts and Plunge-O-Meter

COMPARE VANCOUVER & TORONTO HOUSING of Single Family Detached, Town House and Condo Prices and Total Residential Listings and Sales and their Absorption Rates

SEE ALSO the charts comparing 10 year changes in Vancouver, BC, Toronto and ON Employment Rates and the relative values of VANCOUVER and TORONTO STRATA units as a percentage of single family dwellings

CLICK CHART TO ENLARGE

Monthly Absorption Rate (MAR)
ie: Total Sales / Total Listings)

MAR 2017 The MAR hit a freaky 152% in Toronto vs Vancouver at 47%
FEB 2020 The MAR spiked to 82% in Toronto vs Vancouver at 23%
OCT 2020 The MAR stalled at 61% in Toronto vs Vancouver at 30%

In October 2020 as FOMO 2.0 rages in Toronto, the single family detached price gap is 42% more to live in a Vancouver detached house. Strata prices are also still more expensive in Vancouver at 25% more for townhouses and 10% more for condos.

JAN 2013 SFD price 88% more in Vancouver vs Toronto
MAY 2017 SFD PEAK price 51% more in Vancouver than the MAR 2017 SFD PEAK Price in Toronto
FEB 2019 SFD price 47% more in Vancouver vs Toronto

In October 2020

HIGHER PRICES
42% more for a SFD in VAN
25% more for a Town House in VAN
10% more for a Condo in VAN

1.4 more Listings in TOR than VAN
2.9 x more Sales in TOR than VAN
Monthly Absorption Rate TOR:VAN = 2.1

Ratio of SFD to Strata
1 VAN SFD = 1.8 VAN Town Houses
1 TOR SFD = 1.6 TOR Town Houses
1 VAN SFD = 2.5 VAN Condos
1 TOR SFD = 1.9 TOR Condos

10 Year SFD Inflation Rate:
VAN = 115% and TOR = 116%

Annual Precipitation VAN:TOR = 2:1

AUG 2020 Average Employment Earnings
BC = $56,898 /yr up 39% since MAR 2009 Crash
ON = $59,975 /yr up 40% since MAR 2009 Crash

2016 Census Household Median Earnings
VAN = $88,000/yr and TOR = $88,170/yr

SEP 2020 Unemployment Rate
Not Seasonally Adjusted (NSA)
BC = 10.1% and VAN = 11.2%
ON = 11.0% and TOR = 13.1%

SEP 2020 Employment Rate (NSA) Charts
BC = 57.9% and VAN = 57.6%
ON = 57.7% and TOR = 58.5%

Population 2016 Census Projection
VAN = 2.46 mil or 1004 /Km2
TOR = 5.93 mil or 855 /Km2

Earners needed to buy an average SFD:
VAN = 3.3 and TOR = 2.3 earners
(based on 2016 StatCan Census Median Household Income)