TORONTO HOUSING Single Family Detached, Town House and Condo Average Prices with Total Residential Listings and Sales.
CLICK CHART TO ENLARGE
NOTE: Toronto Strata Unit Data changed from median to average at August 2011 and Toronto GTA - SFD average prices began March 2009. Prior SFD data points are actually combined residential + 24.5% which is the average percentage difference between combined residential and SFD over 24 months from March 2009 through February 2011.
|
In August 2019 Toronto total residential housing sales were 39% below their June 2016 high and are heading back down towards the year end lows. The FOMO crowd must be experiencing fear, but not for missing out.
This market should be negotiated not auctioned. Lenders are looking at risk again and appraisers are back in demand. The spring/summer inventory has total listings out-numbering total sales by 2.1 times. |
|
|
Absorption rates based on total listing inventory and total sales have come off their hysterical run and have plunged quickly from 154% in March 2017 to now 49% this month with only 2 months required to sell. Has the Vancouver Model reached Toronto? |
ABSORPTION RATE RECORDS
|
This comparison chart of Vancouver vs Toronto shows the scale of the perceived value differential between the two most manic and expensive Canadian cities.
Here is another attempt to visualize the distortions of the market where the fundamental requirement of a yield to attract sustainable investment in real estate has been replaced with the lure of capital gains.
CLICK CHART TO ENLARGE
|
The "improvement" that sits on the land is a wasting asset. If serviced land is so valuable, shouldn't the ratio be 1 house equals at least 3 townhouses? If the numbers don't make sense you can always rent. When MOI is low & MAR is high, developers and vendors have the edge.
The "improvement" that sits on the land is a wasting asset. If serviced land is so valuable, shouldn't the ratio be 1 house equals at least 3 townhouses? If the numbers don't make sense you can always rent. When MOI is low & MAR is high, developers and vendors have the edge.
CLICK CHART TO ENLARGE
|
IN THE LAST 10 YEARS SFD Prices are up: 92% in Vancouver 18% in Calgary 104% in Toronto WHILE Employment Earnings are up: 26% in British Columbia 26% in Alberta 25% in Ontario |
