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
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Monthly Absorption Rate (MAR) ie: Total Sales / Total Listings)
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The Single Family Detached price gap now in July 2020 continues to contract as FOMO 2.0 rages in Toronto and is now down to 40% more to live in a Vancouver detached house. Strata prices are also still more expensive in Vancouver at 26% 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
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In August 2020
HIGHER PRICES 40% more for a SFD in VAN 26% more for a Town House in VAN 10% more for a Condo in VAN 1.3 more Listings in TOR than VAN 3.5 x more Sales in TOR than VAN Monthly Absorption Rate TOR:VAN = 2.7 Ratio of SFD to Strata 1 VAN SFD = 1.8 VAN Town Houses 1 TOR SFD = 1.6 TOR Town Houses 1 VAN SFD = 2.4 VAN Condos 1 TOR SFD = 1.9 TOR Condos 10 Year SFD Inflation Rate: VAN = 106% and TOR = 131% Annual Precipitation VAN:TOR = 2:1 |
JUN 2020 Average Employment Earnings
BC = $57,420 /yr up 40% since MAR 2009 Crash ON = $59,822 /yr up 40% since MAR 2009 Crash 2016 Census Household Median Earnings VAN = $88,000/yr and TOR = $88,170/yr JUL 2020 Unemployment Rate Not Seasonally Adjusted (NSA) BC = 12.1% and VAN = 13.3% ON = 12.8% and TOR = 15.0% JUL 2020 Employment Rate (NSA) Charts BC = 55.5% and VAN = 55.2% ON = 55.0% and TOR = 54.9% 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 = 3.2 and TOR = 2.3 earners (based on 2016 StatCan Census Median Household Income) |
