The document summarizes real estate sales data for the Greater Toronto area in September 2011. It reports that home sales increased 25% compared to September 2010, with 7,658 transactions. For the first three quarters of 2011, sales increased 2.6% compared to the same period in 2010. The average selling price continued to grow by close to 10% year-over-year in September. Market conditions were tighter as annual growth in sales outpaced annual growth in new listings.
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Toronto Real Estate Statistics september 2011
1. For All TREB Member Inquiries:
(416) 443-8152
For All Media/Public Inquiries:
September 2011 (416) 443-8158
Economic Indicators September Rounds Out a Strong Third Quarter Total TorontoMLS®
Toronto, October 5, 2011 – Greater Toronto REALTORS® reported 7,658
Real GDP Growthi transactions through the TorontoMLS® system in September – a 25 per cent Sales Activity1,7
Q2 2011 u -0.4% increase over September 2010. Sales during the first three quarters of 2011
amounted to 70,588, representing a 2.6 per cent increase compared to the first
Toronto Employment Growthi i nine months of 2010.
August 2011 t 0.8% “We have experienced strong growth in sales so far this year, with a much more
active summer compared to 2010. However, while sales have been strong, we have
Toronto Unemployment Rate continued to experience a shortage of listings, resulting in more competition
August 2011 u 8.1% between home buyers,” said Toronto Real Estate Board President Richard Silver.
“Over the past few months, the listing situation has started to improve, so we 7,658
ii
Inflation (Yr./Yr. CPI Growth) expect home buyers will have more homes to choose from in the months ahead.” 6,138
August 2011 t 3.1% With annual growth in sales (+25 per cent) outstripping annual growth in new
iii listings (+15 per cent) in September, market conditions became tighter and the
Bank of Canada Overnight Rate
average selling price continued to grow by close to 10 per cent on a year-over-year
September 2011 q 1.0% basis. September 2011 September 2010
iv “Strong price growth through the first nine months of the year was mitigated to a
Prime Rate
great degree by low interest rates and rising incomes,” said the Toronto Real Estate
September 2011 q 3.0%
Board’s Senior Manager of Market Analysis Jason Mercer. “As buyers continue to
Mortgage Rates (August 2011)
iv take advantage of the affordable home ownership options in the GTA, we remain on
pace for the second best year for sales under the current TREB market area.”
Chartered Bank Fixed Rates TorontoMLS®
1 Year q 3.50%
Sales & Average Price By Major Home Type
1,7 Average Price1,7
3 Year q 4.35%
5 Year u 5.19% September 2011
Sources and Notes: Sales Average Price
i
Statistics Canada, Quarter-over-quarter
416 905 Total 416 905 Total
$465,369
growth, annualized
Detached 1,073 2,602 3,675 $706,288 $529,436 $581,072
$425,757
ii
Statistics Canada, Year-over-year growth Yr./Yr. % Change 30% 25% 27% 7% 10% 9%
for the most recently reported month
Semi-Detached 334 499 833 $521,167 $366,938 $428,778
iii
Bank of Canada, Rate from most recent Yr./Yr. % Change 20% 19% 19% 8% 9% 9%
Bank of Canada announcement
Townhouse 317 804 1,121 $400,482 $332,679 $351,853
iv
Bank of Canada, rates for most recently Yr./Yr. % Change 24% 26% 26% 5% 10% 8%
completed month
Condo Apartment 1,355 515 1,870 $350,146 $278,856 $330,512 September 2011 September 2010
Yr./Yr. % Change 26% 14% 23% 7% 14% 9%
2. Toronto Real Estate Board
SALES BY PRICE RANGE AND HOUSE TYPE1,7 SEPTEMBER 2011
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 3 1 0 0 20 0 2 0 0 26
$100,000 to $199,999 76 17 6 82 261 3 6 0 2 453
$200,000 to $299,999 328 94 115 212 600 28 5 3 3 1,388
$300,000 to $399,999 691 324 200 204 596 33 1 1 0 2,050
$400,000 to $499,999 752 245 135 43 243 48 1 1 0 1,468
$500,000 to $599,999 602 61 46 21 74 16 0 1 0 821
$600,000 to $699,999 433 42 28 10 36 4 0 0 0 553
$700,000 to $799,999 251 21 1 6 14 1 0 0 0 294
$800,000 to $899,999 138 13 5 3 11 0 0 0 0 170
$900,000 to $999,999 94 1 2 1 3 0 0 0 0 101
$1,000,000 to $1,249,999 143 8 0 0 1 0 0 0 0 152
$1,250,000 to $1,499,999 64 2 0 0 3 0 0 0 0 69
$1,500,000 to $1,749,999 35 1 1 0 3 0 0 0 0 40
$1,750,000 to $1,999,999 21 1 0 0 3 0 0 0 0 25
$2,000,000 + 44 2 0 0 2 0 0 0 0 48
Total Sales 3,675 833 539 582 1,870 133 15 6 5 7,658
Share of Total Sales 48.0% 10.9% 7.0% 7.6% 24.4% 1.7% 0.2% 0.1% 0.1% -
Average Price $581,072 $428,778 $394,135 $312,694 $330,512 $396,624 $189,300 $342,783 $210,000 $465,369
SALES BY PRICE RANGE AND HOUSE TYPE1,7 YEAR-TO-DATE, 2011
Price Range Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-op Apt Det Condo Co-ownership Apt Total
$0 to $99,999 26 2 5 35 174 0 13 0 4 259
$100,000 to $199,999 636 178 66 700 2,565 18 46 2 17 4,228
$200,000 to $299,999 3,024 890 1,053 2,023 5,805 291 22 25 30 13,163
$300,000 to $399,999 6,466 3,078 2,001 1,973 5,176 289 14 21 5 19,023
$400,000 to $499,999 6,977 2,169 1,180 434 2,016 421 7 17 0 13,221
$500,000 to $599,999 5,619 650 423 176 804 140 4 7 1 7,824
$600,000 to $699,999 3,730 384 180 106 314 23 0 0 0 4,737
$700,000 to $799,999 2,130 196 73 42 164 3 0 2 0 2,610
$800,000 to $899,999 1,342 99 42 23 75 0 0 2 0 1,583
$900,000 to $999,999 804 31 16 13 45 0 0 0 0 909
$1,000,000 to $1,249,999 1,110 53 13 10 70 0 1 0 0 1,257
$1,250,000 to $1,499,999 637 23 8 6 29 0 0 0 0 703
$1,500,000 to $1,749,999 324 15 5 2 29 0 0 0 0 375
$1,750,000 to $1,999,999 190 10 2 0 12 0 0 1 0 215
$2,000,000 + 433 16 0 0 32 0 0 0 0 481
Total Sales 33,448 7,794 5,067 5,543 17,310 1,185 107 77 57 70,588
Share of Total Sales 47.4% 11.0% 7.2% 7.9% 24.5% 1.7% 0.2% 0.1% 0.1% -
Average Price $580,898 $429,033 $393,941 $315,592 $329,736 $388,720 $222,858 $396,729 $220,484 $464,024
Page 3 July 2010
Market Watch, September 2011 2