TORONTO HOUSING Single Family Detached, Town House and Condo Average Prices with Total Residential Listings and Sales. NON RESIDENT DWELLING Count Below
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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.
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In April 2019 Toronto housing sales broke out to the upside of a 2 year channel and the FOMO crowd pushed condo prices to a new peak. But, the rising spring inventory has total listings out-numbering total sales by 2 times. This market should be negotiated not auctioned. Lenders are looking at risk again; appraisers are in demand again. |
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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 50% this month with only 2 months required to sell. Has the Vancouver Model reached Toronto? |
ABSORPTION RATE RECORDS
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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.
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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.
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IN THE LAST 10 YEARS SFD Prices are up: 111% in Vancouver 28% in Calgary 114% in Toronto WHILE Employment Earnings are up: 21% in British Columbia 24% in Alberta 24% in Ontario |
Toronto Has Over 99,000 Unoccupied Homes. Here’s where they are.
The number of homes in the GTA that aren’t being occupied is growing almost as fast as the price of shelter. The latest numbers show that 99,236 homes are not regularly occupied, as identified by the owner of the residence. This represents 4.5% of all homes in the city, and a 10.5% change over the past 5 years. The general population grew by 4.5% during the same period, which means this trend appears to be accelerating. Full report of February 9, 2017 at Better Dwelling |
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