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 British Columbia and Ontario employment earnings and the relative values of VANCOUVER and TORONTO STRATA units as a percentage of single family dwellings
The chart above shows the HPI® prices for Vancouver and average prices for Toronto (solid plot lines) as well as the Monthly Absorption Rate (MAR = Sales/Listings as dotted plot lines).
At the old Vancouver price peak in April 2012 before Torontonians joined the party, Vancouver metro SFDs were 64% more expensive than Toronto comparables.
In July 2016 at the peak of Vancouver SFD prices, they were 65% more expensive.
By June 2017 the gap was closing quickly; it narrowed down to 33%.
The SFD price gap still remains wide at 38%. Strata prices are also more expensive in Vancouver; 13% more for town-houses and 5% more for condos.
In March 2017 the Monthly Absorption Rate (MAR) based on total inventory and total residential sales hit a freaky 154% in Toronto vs Vancouver at 47%. The MAR is now 59% in Toronto and 18% in Vancouver.
In December 2019
35% more for a SFD in VAN
16% more for a Town House in VAN
7% more for a Condo in VAN
0.9 more Listings in TOR than VAN
2.2 x more Sales in TOR than VAN
Monthly Absorption Rate TOR:VAN = 2.5
Ratio of SFD to Strata
1 VAN SFD = 1.8 VAN Town Houses
1 TOR SFD = 1.5 TOR Town Houses
1 VAN SFD = 2.2 VAN Condos
1 TOR SFD = 1.6 TOR Condos
10 Year SFD Inflation Rate:
VAN = 82% and TOR = 101%
Annual Precipitation VAN:TOR = 2:1
OCT 2019 Average Employment Earnings
BC = $52,647 /yr up 28% since MAR 2009
ON = $55,341 /yr up 29% since MAR 2009
2016 Census Household Median Earnings
VAN = $88,000/yr and TOR = $88,170/yr
NOV 2019 Unemployment Rate
Not Seasonally Adjusted (NSA)
BC = 4.8% and VAN = 4.7%
ON = 4.9% and TOR = 5.2%
OCT 2019 Employment Rate (NSA) Charts
BC = 62.1% and VAN = 64.3%
ON = 61.7% and TOR = 62.9%
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 = 2.3 and TOR = 1.7 earners (based on 2016 StatsCan Census Median Household Income)