TORONTO, ONTARIO, May 5, 2020 – Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for April 2020:
Home Sales and Listings
Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System. This result was down by 67 per cent compared to April 2019. Weekday sales remained within a relatively steady range during the month, averaging 130 per day.
New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to sales (-64.1 per cent).
“The necessary social distancing and economic impacts associated with COVID-19 clearly impacted home sales and listings throughout April 2020. However, REALTORS® have been able to facilitate some transactions on behalf of buyers and sellers through the use of innovative techniques including virtual open houses. TRREB has also provided a live stream virtual open house option on Member listings featured on our public websites, and I would expect the use of these innovative techniques to increase as some level of social distancing remains in place for the foreseeable future,” said Mr. Collins.
“TRREB Members should continue to follow directives and guidance being given by the government and public health agencies. TRREB’s professional development staff are continuously working to educate our Members via virtual webinars on using technology in innovative ways to conduct business virtually, including video, virtual tours and the use of electronic forms wherever possible,” said TRREB CEO John DiMichele.
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TRREB MARKET REPORT - APRIL 2020
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MARKET WATCH REPORT AND MARKET WATCH BY THE NUMBERS INFOGRAPHIC
For a breakdown of TRREB's MLS System housing figures for April, including sales, prices, and rental transactions, view our
latest Market Watch report, housing market charts and infographic below:
Read the complete Market Watch report for April 2020 here , a quick overview here
(http://www.trreb.ca/index.php/market-news/market-stats), and TRREB's News Release here .
Housing Market Charts, a series of bar charts that allows you and your clients to compare April's housing figures with
those of the previous three years.
Market Watch by the Numbers (here ), an infographic that offers an illustrative overview of April 2020 with some
insight into the GTA rental market. The infographic breaks down the story behind the numbers.
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4. Click here to view the full Market Watch by the Numbers infographic.
Access complete reports for other market segments here:
Rental Market Report
Condo Market Report
Commercial Realty Watch
Community Reports (http://www.trreb.ca/index.php/market-news/community-reports)
DON'T FORGET: These reports and the Market Watch by the Numbers infographic can be shared on your blog, social media,
newsletters, and emails, and can be used to help you inform your clients and customers.
RECAP OF TRREB MARKET WATCH IN THE NEWS
Below, TRREB has gathered a list of coverage from national, provincial, and local media outlets for you to read or share with
your clients.
Home sales hammered by stay-at-home measures in Toronto, Vancouver, Calgary
(https://www.theglobeandmail.com/business/article-home-sales-hammered-by-stay-at-home-measures-in-toronto-
vancouver/) - Globe and Mail
WHAT HAS COVID-19 MEANT FOR YOUR HOME'S VALUE? (https://www.iheartradio.ca/newstalk-1010/news/what-has-
covid-19-meant-for-your-home-s-value-1.12328000) - NewsTalk 1010
Overall home prices hold steady - but detached homes in Toronto fall by almost 8%
(https://www.thestar.com/business/2020/05/05/home-prices-hold-steady-as-sales-plummet-says-toronto-real-
estate-board.html) - The Star
Don't underestimate how fast things may come back: Housing sector seen rebounding by year's end
(https://business.financialpost.com/real-estate/dont-underestimate-how-fast-things-may-come-back-housing-sector-
seen-rebounding-by-years-end) - Financial Post
GTA home sales plunge 67% in April as COVID-19 pandemic freezes real estate market
(https://www.cp24.com/news/gta-home-sales-plunge-67-in-april-as-covid-19-pandemic-freezes-real-estate-market-
1.4925691) - CP24
Real estate sales down but prices remain stable (https://www.cp24.com/video?clipId=1952458) - CP24 Video
Stay tuned to your email inbox next month for the May issue of Market Watch to Your Inbox.
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6. Sales
New Listings
Active Listings
Average Price
Avg. LDOM
Avg. PDOM
9,005 2,975 -67.0%
17,213 6,174
18,037 10,561 -
$820,373 $821,392
19 19
-64.1%
41.4%
0.1%
0.0%
26 24 -7.7%
2019 2020 % Chg.Year
Market WatchAPRIL 2020
Economic Indicators
April 2020
GTA REALTORS®
RELEASE APRIL 2020 STATS
TORONTO, ONTARIO, May 5, 2020 – Toronto Regional Real Estate Board President Michael Collins
released the following key housing market statistics for April 2020:
Home Sales and Listings
• Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS®
System. This result was down by 67 per cent compared to April 2019. Weekday sales remained
within a relatively steady range during the month, averaging 130 per day.
• New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate
compared to sales (-64.1 per cent).
Home Prices
• The average selling price for April 2020 transactions was $821,392 – up by 0.1 per cent compared to
the average price of $820,373 reported for April 2019. The semi-detached and townhouse market
segments experienced annual average price growth above the rate of inflation. The condominium
apartment and detached segments experienced year-over-year price declines on average.
• The trend for the MLS® Home Price Index Composite Benchmark, which had been on an upward
trajectory since the beginning of 2019 flattened in April. On a year-over-year basis, the Benchmark
was up by 10 per cent.
• The MLS® HPI indices represent prices for typical homes with consistent attributes from one period to
the next. The fact that the MLS® HPI was up year-over-year by a greater rate than the average selling
price suggests that the share of higher end deals completed in April 2020 versus April 2019 was down.
Sources and Notes:
i - Statistics Canada, Quarter-over-quarter
growth, annualized
ii - Statistics Canada, Year-over-year
growth for the most recently reported
month
iii - Bank of Canada, Rate from most
recent Bank of Canada announcement
iv - Bank of Canada, Rates for most
recently completed month
For All TRREB Member Inquiries:
For All Media/Public Inquiries:
(416) 443-8152
(416) 443-8158
April 2019April 2020
2,975
9,005
Detached
Semi-Detached
Townhouse
Condo Apt
313 1,099 1,412 1,249,730 907,843 983,630
126 198 324 1,096,437 719,311 865,971
108 424 532 784,899 655,028 681,393
482 185 667 612,300 489,654 578,283
Sales Average Price
416 905 Total 416 905 TotalHome Type
Year-Over-Year Per Cent Change
April 2019April 2020
$821,392 $820,373
Detached
Semi-Detached
Townhouse
Condo Apt
-67.9% -65.4% -66.0% -7.8% -0.8% -3.5%
-54.8% -65.6% -62.1% 4.0% 4.2% 7.0%
-68.4% -64.3% -65.3% 3.5% 4.4% 3.8%
-69.9% -75.3% -71.6% -4.0% 1.5% -1.7%
TRREB MLS®
Sales Activity1,7
TRREB MLS®
Average Price1,7
Sales & Average Price By Major Home Type1,7
Year-Over-Year Summary1,7
April 2020 0.25%
April 2020 2.45%
1 Year 3.29%
3 Year 4.05%
5 Year 5.04%
March 2020 0.9%
March 2020 6.0%
March 2020 1.8%
Q4 2019 0.4%
Real GDP Growth
Toronto Employment Growth
Toronto Unemployment Rate (SA)
Inflation (Yr./Yr. CPI Growth)
Bank of Canada Overnight Rate
Prime Rate
1Market Watch, April 2020
Copyright®
2020 Toronto Regional Real Estate Board
April 2020Mortgage Rates
2
3
1
5
5
7. Toronto Regional Real Estate Board
YEAR-TO-DATE, 2020
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
0 0 0 0 1 0 0 0 0 1
2 0 0 0 2 0 1 0 0 5
8 0 1 1 6 0 0 0 0 16
22 0 0 12 52 0 2 0 0 88
57 22 21 34 176 4 0 1 1 316
115 18 49 90 197 6 0 2 1 478
137 46 64 44 120 8 0 0 0 419
226 75 84 33 47 4 0 0 0 469
231 59 35 9 26 4 0 0 0 364
174 30 16 6 18 4 0 0 0 248
176 35 14 8 14 2 0 0 0 249
111 28 6 0 3 0 0 0 0 148
53 7 3 0 4 0 0 0 0 67
35 2 1 1 1 0 0 0 0 40
65 2 0 0 0 0 0 0 0 67
Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-Op Apt Det Condo Co-Ownership Apt TotalName
$0 to $99,999
$100,000 to $199,999
$200,000 to $299,999
$300,000 to $399,999
$400,000 to $499,999
$500,000 to $599,999
$600,000 to $699,999
$700,000 to $799,999
$800,000 to $899,999
$900,000 to $999,999
$1,000,000 to $1,249,999
$1,250,000 to $1,499,999
$1,500,000 to $1,749,999
$1,750,000 to $1,999,999
$2,000,000+
0 0 1 1 2 0 0 0 0 4
11 0 0 0 19 0 3 0 0 33
36 1 1 13 29 0 3 0 2 85
102 8 1 77 326 0 8 0 1 523
291 104 96 240 1,202 10 3 1 4 1,951
654 99 242 522 1,674 38 2 9 2 3,242
943 253 489 386 1,119 32 2 1 0 3,225
1,291 613 554 265 633 30 0 2 1 3,389
1,544 424 346 84 329 53 0 2 0 2,782
1,322 188 160 47 202 27 2 0 0 1,948
1,852 164 128 69 187 24 1 0 0 2,425
1,110 112 45 21 85 0 1 0 0 1,374
564 54 22 2 39 0 0 0 0 681
324 23 5 6 23 0 0 0 0 381
632 21 4 6 42 0 0 0 0 705
Detached Semi-Detached Att/Row/Twnhouse Condo Townhouse Condo Apt Link Co-Op Apt Det Condo Co-Ownership Apt TotalName
APRIL 2020SALES BY PRICE RANGE AND HOUSE TYPE 1,7
SALES BY PRICE RANGE AND HOUSE TYPE 1,7
Total Sales
Share of Total Sales (%)
Average Price ($)
1,412 324 294 238 667 32 3 3 2 2,975
47.5% 10.9% 9.9% 8.0% 22.4% 1.1% 0.1% 0.1% 0.1% 100.0%
$983,630 $865,971 $735,818 $614,162 $578,283 $705,213 $298,000 $503,000 $497,500 $821,392
10,676 2,064 2,094 1,739 5,911 214 25 15 10 22,748
46.9% 9.1% 9.2% 7.6% 26.0% 0.9% 0.1% 0.1% 0.0% 100.0%
$1,079,968 $863,823 $769,604 $644,522 $645,859 $772,973 $479,060 $612,100 $455,200 $881,565
Total Sales
Share of Total Sales (%)
Average Price ($)
32. 2008 74,505 $379,080
2009 86,980 $395,234
2010 85,860 $431,262
2011 89,110 $464,989
2012 85,488 $497,073
2013 87,047 $522,951
2014 92,776 $566,611
2015 101,214 $622,116
2016 113,041 $729,824
2017 92,340 $822,496
2018 78,018 $787,845
Year Sales Average Price
Toronto Regional Real Estate Board
January 3,968 747,175
February 4,982 779,791
March 7,132 788,133
April 9,005 820,373
May 9,951 838,248
June 8,826 831,882
July 8,555 806,971
August 7,682 792,134
September 7,792 842,628
October 8,446 851,890
November 7,056 843,412
December 4,367 838,649
January 4,556 $838,958
February 7,223 $910,319
March 7,994 $902,261
April 2,975 $821,392
May - -
June - -
July - -
August - -
September - -
October - -
November - -
December - -
Annual 87,762 $819,316
HISTORIC ANNUAL STATISTICS1,6,7
Year to Date 22,748 $881,565
NOTES
*For historic annual sales and average price data over a longer time frame go to:
http://www.torontorealestateboard.com/market_news/market_watch/historic_stats/
pdf/TREB_historic_statistics.pdf
Ajax
Aurora
Bradford West
Gwillimbury
Brampton
Brock
Burlington
C01
C02
C03
C04
C06
C07
C08
C10 C11
C12 C13
C14
C15
Caledon
Clarington
E01
E02
E03
E04
E06
E07
E08
E09
E10
E11
East Gwillimbury
Essa
Georgina
Halton Hills
Innisfil
King
Markham
Milton
Mississauga
New Tecumseth
Newmarket
Oakville
Oshawa
PickeringRichmond
Hill
ScugogUxbridge
Vaughan
W02
W03
W04
W05
W06
W07
W08
W09
W10
Whitchurch-Stouffville
Adjala-Tosorontio
Orangeville
Whitby Dufferin
Durham
Halton
Peel
Simcoe
Toronto
York
27Market Watch, April 2020
Copyright® 2020 Toronto Regional Real Estate Board
1 - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TRREB
MLS® system between the first and last day of the month/period being reported.
2 - New listings entered into the TRREB MLS® system between the first and last day of the month/period being reported.
3 - Active listings at the end of the last day of the month/period being reported.
4 - Ratio of the average selling price to the average listing price for firm transactions entered into the TRREB MLS® system
between the first and last day of the month/period being reported.
5 - Average Listing Days on Market (Avg. LDOM) refers to the average number of days sold listings were on the market.
Average Property Days on Market (Avg. PDOM) refers to the average number of days a property was on the market before
selling irrespective of whether the property was listed more than once by the same combination of seller and brokerage during
the original listing contract period.
6 - Active listings at the end of the last day of the month/period being reported.
7 - Past monthly and year-to-date figures are revised on a monthly basis.
8 - SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9 - Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
2020 MONTHLY STATISTICS1,7
2019 MONTHLY STATISTICS1,7
33. Market Stats: Quick Overview
11 May 2020
Residential Stats
Total Residential Transactions
Year-Over-Year
read commentary
Seasonally Adjusted
-67%
compared to last year
-66.2%
compared to previous month
34. Average Selling Price
Year-Over-Year
Seasonally Adjusted
Total New Listings
Year-Over-Year
0.1%
compared to last year
-11.8%
compared to previous month
35. read commentary
Sales-to-New Listings Ratio
Property Days on Market
Year-Over-Year
Listing Days on Market
-64.1%
compared to last year
-4%
compared to last year
-7.7%
compared to last year
37. All Leasing Activity (Sq.Ft.)
Year-Over-Year
Note
All Sales Activity
Year-Over-Year
Note
Avg. Industrial Lease Rate (Sq.Ft.)
Year-Over-Year
-32.4%
compared to last year
-18.2%
compared to last year
38. Avg. Com/Ret Lease Rate (Sq.Ft.)
Year-Over-Year
Avg. Of ce Lease Rate (Sq.Ft.)
Year-Over-Year
Condominium Sales Stats
11.3%
compared to last year
-11%
compared to last year
19%
compared to last year
39. Total Condo Apartment Sales
Year-Over-Year
Average Selling Price
Year-Over-Year
Total New Listings
Year-Over-Year
3.8%
compared to last year
10.4%
compared to last year
40.
Sales-to-New Listings Ratio
Year-Over-Year
Days on Market
Year-Over-Year
Condominium Rental Stats
-11.9%
compared to last year
13%
compared to last year
-8.3%
compared to last year
41. Total Apartment Rentals
Year-Over-Year
read commentary
Average 1-Bdrm. Apartment
Rent
Year-Over-Year
Total New Listings
Year-Over-Year
8.6%
compared to last year
2.1%
compared to last year
42. read commentary
In conjunction with TREB's redistricting project, historical data may be subject to revision moving forward. This could temporarily
impact per cent change comparisons to data from previous years.
31.9%
compared to last year
43. NEWS RELEASE
TORONTO REGIONAL REAL ESTATE BOARD RELEASES MONTHLY MARKET REPORT
TORONTO, ONTARIO, May 5, 2020 – Toronto Regional Real Estate Board President Michael Collins released the
following key housing market statistics for April 2020:
Home Sales and Listings
• Greater Toronto Area REALTORS® reported 2,975 residential transactions through TRREB’s MLS® System.
This result was down by 67 per cent compared to April 2019. Weekday sales remained within a relatively
steady range during the month, averaging 130 per day.
• New listings amounted to 6,174 in April 2020 – down on a year-over-year basis by a similar rate compared to
sales (-64.1 per cent).
“The necessary social distancing and economic impacts associated with COVID-19 clearly impacted home sales and
listings throughout April 2020. However, REALTORS® have been able to facilitate some transactions on behalf of
buyers and sellers through the use of innovative techniques including virtual open houses. TRREB has also provided a
live stream virtual open house option on Member listings featured on our public websites, and I would expect the use of
these innovative techniques to increase as some level of social distancing remains in place for the foreseeable future,”
said Mr. Collins.
“TRREB Members should continue to follow directives and guidance being given by the government and public health
agencies. TRREB’s professional development staff are continuously working to educate our Members via virtual
webinars on using technology in innovative ways to conduct business virtually, including video, virtual tours and the use
of electronic forms wherever possible,” said TRREB CEO John DiMichele.
Home Prices
• The average selling price for April 2020 transactions was $821,392 – up by 0.1 per cent compared to the
average price of $820,373 reported for April 2019. The semi-detached and townhouse market segments
experienced annual average price growth above the rate of inflation. The condominium apartment and
detached segments experienced year-over-year price declines on average.
• The trend for the MLS® Home Price Index Composite Benchmark, which had been on an upward trajectory
since the beginning of 2019 flattened in April. On a year-over-year basis, the Benchmark was up by 10 per
cent.
• The MLS® HPI indices represent prices for typical homes with consistent attributes from one period to the next.
The fact that the MLS® HPI was up year-over-year by a greater rate than the average selling price suggests
that the share of higher end deals completed in April 2020 versus April 2019 was down.
“When thinking about home prices, it is important to remember that the pace of price growth is dictated by the
relationship between sales and listings. So, while the onset of COVID-19 has understandably shifted market conditions
and resulted in average selling prices coming off their March peak, there has continued to be enough active buyers
relative to available listings to keep prices in line with last year’s levels,” said Jason Mercer, TRREB’s Chief Market
Analyst.
Condominium Apartment Rental Market
TRREB is also providing summary condominium apartment rental market statistics for April 2020. Conditions in the
GTA rental market have also changed since the first quarter of 2020.
• Rental transactions reported through TRREB’s MLS® System were down on a year-over-year basis in April for
both one-bedroom and two-bedroom condominium apartments.
• One-bedroom condominium apartment rental transactions were down by 57.9 per cent to 754; two-bedroom
rental transactions were down by 54.4 per cent to 489.
44. • Average rents for one-bedroom and two-bedroom apartments were down on a year-over-year basis in April
2020 as well. The average one-bedroom rent was $2,107 – down 2.7 per cent compared to April 2019. The
average two-bedroom rent was $2,705 – down 4.1 per cent compared to April 2019.
“These are unprecedented times. Past recessions and recoveries do not necessarily provide the best guide as to how
the housing market will recover from the impact of the COVID-19 pandemic. A key factor for the housing market
recovery will be a broader reopening of the economy, which will result in an improving employment picture and a
resurgence in consumer confidence. To this end, it is reassuring that the province is taking measured and carefully
monitored steps towards safely opening up some parts of the economy,” said Mr. DiMichele.
Summary of TRREB MLS® Sales and Average Price - April 1 - 30, 2020
2020 2019
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 1,036 881,424 2,223 3,219 904,199 5,736
Rest of GTA ("905") 1,939 789,317 3,951 5,786 773,736 11,476
GTA 2,975 821,392 6,174 9,005 820,373 17,212
TREB MLS® Sales By Home Type - April 1 - 30, 2020 - Home Type
Detached Semi-Detached Townhouse Condo Apartment Other Types All
Types
All Areas Sales 1,412 324 532 667 40 2,975
Yr./Yr. % Chg. -66.0% -62.1% -65.3% -71.6% -66.4% -67.0%
Halton Sales 174 20 105 36 3 338
Yr./Yr. % Chg. -66.8% -62.3% -59.8% -68.4% -72.7% -64.9%
Peel Sales 237 93 116 73 1 520
Yr./Yr. % Chg. -72.7% -69.0% -69.2% -79.6% -91.7% -72.9%
Toronto Sales 313 126 108 482 7 1,036
Yr./Yr. % Chg. -67.9% -54.8% -68.4% -69.9% -63.2% -67.8%
York Sales 247 45 87 50 7 436
Yr./Yr. % Chg. -68.1% -65.9% -71.9% -76.6% -79.4% -70.2%
Durham Sales 345 34 98 25 11 513
Yr./Yr. % Chg. -53.1% -51.4% -47.6% -53.7% -52.2% -52.0%
TREB MLS® Average Price By Home Type - April 1 - 30, 2020 - Home Type
Detached Semi-Detached Townhouse Condo
Apartment
Other
Types
All Types
All Areas Average Price $983,630 $865,971 $681,393 $578,283 $649,120 $821,392
Yr./Yr. % Chg. -3.5% 7.0% 3.8% -1.7% -3.6% 0.1%
Halton Average Price $1,064,805 $765,690 $695,854 $506,306 $835,000 $870,966
Yr./Yr. % Chg. 0.7% 10.4% 8.5% 0.1% 6.4% 1.8%
Peel Average Price $997,803 $745,646 $644,549 $490,118 $750,000 $802,155
Yr./Yr. % Chg. 5.1% 5.3% 4.3% 7.1% 6.2% 6.5%
Toronto Average Price $1,249,730 $1,096,437 $784,899 $612,300 $563,000 $881,424
Yr./Yr. % Chg. -7.8% 4.0% 3.5% -4.0% -7.4% -2.5%
York Average Price $1,149,487 $814,973 $783,113 $542,254 $917,843 $968,499
Yr./Yr. % Chg. 3.0% 4.4% 7.8% 1.3% 8.2% 6.1%
Durham Average Price $662,126 $524,441 $537,601 $364,788 $561,409 $612,563
Yr./Yr. % Chg. -1.1% 6.1% 7.5% -10.6% 2.8% 0.0%
April 2020 Year-Over-Year Per Cent Change in the MLS® HPI
Composite (All
Types)
Single-Family
Detached
Single-Family
Attached
Townhouse Apartment
TRREB Total 10.22% 8.49% 9.60% 10.79% 13.21%
45. Halton Region 10.36% 9.65% 8.38% 12.90% 12.94%
Peel Region 12.55% 10.71% 11.86% 12.57% 17.94%
City of Toronto 10.43% 7.95% 8.24% 8.01% 12.51%
York Region 7.66% 6.55% 8.32% 6.83% 12.74%
Durham Region 9.73% 9.03% 10.63% 10.57% 14.17%
Orangeville 6.87% 6.82% 9.78% - -
South Simcoe
County1
10.62% 13.00% 9.14% - -
Source: Toronto Regional Real Estate Board
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth
Annual Summary of TRREB MLS® Sales and Average Price
Year-to-Date
2020 2019
Sales Average Price New Listings Sales Average Price New Listings
City of Toronto ("416") 7,864 952,857 13,277 9,030 850,262 16,711
Rest of GTA ("905") 14,884 843,898 25,781 16,057 758,564 33,789
GTA 22,748 881,565 39,058 25,087 791,571 50,500
Annual TRREB MLS® Sales & Average Price By Home Type - Year-to-Date 2020
Sales Average Price
416 905 Total 416 905 Total
Detached 2,256 8,420 10,676 1,425,426 987,409 1,079,968
Yr./Yr. % Change -7.7% -3.7% -4.5% 9.9% 9.2% 9.1%
Semi-Detached 624 1,440 2,064 1,136,141 745,819 863,823
Yr./Yr. % Change -17.5% -6.7% -10.2% 8.6% 9.8% 8.0%
Townhouse 806 3,027 3,833 819,673 684,413 712,855
Yr./Yr. % Change -13.7% -8.4% -9.5% 7.9% 11.2% 10.1%
Condo Apartment 4,130 1,781 5,911 696,983 527,307 645,859
Yr./Yr. % Change -14.7% -20.0% -16.4% 13.4% 13.3% 13.8%
Apartment Type Month/Year Rentals Average Rent
One-Bedroom Apr. 2020 754 $2,107
Apr. 2019 1,790 $2,165
Yr./Yr. % Chg. -57.9% -2.7%
Two-Bedroom Apr. 2020 489 $2,705
Apr. 2019 1,072 $2,821
Yr./Yr. % Chg. -54.4% -4.1%
Source: Toronto Regional Real Estate Board
*Note: A broader breakout of condominium apartment and condominium townhouse rental statistics by bedroom type and TRREB
areas and municipalities will continue to be provided in TRREB's quarterly Rental Market Report.
46. Seasonally Adjusted TRREB MLS® Sales and Average Price1
Sales
Month-over-Month
% Chg. Average Price
Month-over-Month %
Chg.
April '19 7,078 10.2% $787,535 0.7%
May '19 7,356 3.9% $802,162 1.9%
June '19 7,513 2.1% $812,342 1.3%
July '19 7,884 4.9% $824,215 1.5%
August '19 7,989 1.3% $825,904 0.2%
September '19 7,993 0.1% $837,281 1.4%
October '19 7,840 -1.9% $839,945 0.3%
November '19 7,835 -0.1% $846,374 0.8%
December '19 7,626 -2.7% $874,283 3.3%
January '20 7,763 1.8% $875,767 0.2%
February '20 8,902 14.7% $904,450 3.3%
March '20 6,936 -22.1% $894,745 -1.1%
April '20 2,347 -66.2% $789,274 -11.8%
Source: Toronto Regional Real Estate Board; CREA Seasonal Adjustment
1 Preliminary seasonal adjustment undertaken by the Canadian Real Estate Association (CREA). Removing normal seasonal variations
allows for more meaningful analysis of monthly changes and underlying trends.
-30-
Media Inquiries:Mary Gallagher, Senior Manager, Public Affairs maryg@trebnet.net 416-443-8158
The Toronto Regional Real Estate Board is Canada’s largest real estate board with more than 56,000
residential and commercial professionals connecting people, property and communities.
48. Toronto Real Estate Board
January
February
M
arch
April
M
ay
June
July
August
Septem
ber
October
Novem
ber
Decem
ber
0
2,000
4,000
6,000
8,000
10,000
12,000
TREB Housing Market Charts
Source: Toronto Real Estate Board
2017 2018 2019 2020
TREB MLS® Sales
Monthly with Three Previous Years for Comparison
Explanation: This chart plots monthly MLS® Sales for the current year and the previous three years. The recurring seasonal trend can be examined along with
comparisons to previous years for each month.
56. TREB Affordability Indicator
*Note: Assumes TREB average price and average 5-Year fixed rate mortgage
Source: Toronto Real Estate Board Data and Calculation; Statistics Canada
1. Average annual or year-to-date home price as reported by TREB
2. 20 per cent down payment
3. Average 5-year fixed mortgage rate (Statistics Canada); 25-year amortization
4. Average property tax rate reported by/estimated from the Statistics Canada Survey of Household Spending
5. Average utilities cost reported by/estimated from the Statistics Canada Survey of Household Spending and components of the Consumer Price Index
6. Average household income reported by the Census of Canada. Years in between Censuses estimated using interpolation (years up to 2005) or annual growth in average weekly earnings reported by Statistics
Canada in the Labour Force Survey (2006 onward).
Toronto Real Estate Board
Share of Average Household Income Used for Mortgage Principal and Interest,
Property Taxes and Utilities on the Averaged Priced GTA Resale Home.
TREB Housing Market Charts
1986198719881989199019911992199319941995199619971998199920002001200220032004200520062007200820092010
201120122013201420152016201720182019
2020
YTD
0%
10%
20%
30%
40%
50%
60%
57. Rental Market Report
Economic Indicators
For All TRREB Member Inquiries:
For All Media/Public Inquiries:
(416) 443-8152
(416) 443-8158
Q1 2020 Q1 2019
$2,187 $2,143
Total TRREB MLS®
Apartment Rentals1,3
TRREB MLS®
Avg. 1-Bdrm. Apt. Rent1,3
Rental Market Summary:
First Quarter 2020
Q1 2020 Q1 2019
7,192
6,623
Apartments1,2,3
299 $1,844 4,274 $2,187 2,440 $2,811 179 $3,575
268 $1,816 3,868 $2,143 2,360 $2,812 127 $3,665
Bachelor One Bedroom Two Bedroom Three Bedroom
Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent
16,058 7,192
12,173 6,623
All Apartments
Listed Leased
Q4 2019 0.4%
March 2020 1.8%
March 2020 6.0%
March 2020 0.9%
March 2020 0.25%
March 2020 2.45%
1 Year 3.29%
3 Year 3.94%
5 Year 5.04%
Real GDP Growth
Toronto Employment Growth
Toronto Unemployment Rate (SA)
Inflation (Yr./Yr. CPI Growth)
Bank of Canada Overnight Rate
Prime Rate
24.1% 4.5%
11.6% 1.6% 10.5% 2.1% 3.4% 0.0% 40.9% -2.4%31.9% 8.6%Yr./Yr. % Chg.
300.0% 10.5% -14.0% 2.1% 17.0% 4.4% -4.6% 2.8%
1,090 557
878 533
All Apartments
Listed Leased
4 $1,769 49 $1,965 275 $2,419 229 $2,672
1 $1,600 57 $1,924 235 $2,316 240 $2,599
Bachelor One Bedroom Two Bedroom Three Bedroom
Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent Leased Avg. Rent
Yr./Yr. % Chg.
Q1 2020
Q1 2019
Q1 2020
Q1 2019
Townhouses1,2,3
Mortgage Rates
March 2020
TRREB Releases Q1 2020 Condo Rental Market Stats
Greater Toronto Area REALTOS® reported 7,192 condominium
apartment rentals through TREB’s MLS® System in the first quarter of
2020. This result was up by 8.6 percent compared to the first quarter
of 2019.
The number of condominium apartments listed for rent at some point
during Q1 2020 was up by 31.9% compared to Q1 2019.
With the number of condominium apartments listed increasing on a
year-over-year basis by a greater rate than rental transactions, the
year-over-year pace of average rent growth has moderated.
The average one-bedroom condominium apartment rent was $2,187 in
Q1 2020, up 2.1 per cent from Q1 2019. The average two-bedroom
condominium apartment rent was $2,811, in line with the Q1 2019
result.