December 2019 Toronto Real Estate Market Report

Toronto Real Estate Board President Michael Collins reported that December 2019 residential sales reported through TREB's MLS® System by Greater Toronto Area REALTORS® were up by 17.4 per cent year-over-year to 4,399. Total sales for the calendar year 2019 amounted to 87,825 – up by 12.6 per cent compared to the decade low 78,015 sales reported in 2018. On an annual basis, 2019 sales were in line with the median annual sales result for the past decade.

"We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year. As anticipated, many home buyers who were initially on the sidelines moved back into the market place starting in the spring. Buyer confidence was buoyed by a strong regional economy and declining contract mortgage rates over the course of the year," said Mr. Collins.

While sales were up in 2019, the number of new listings entered into TREB's MLS® System was down by 2.4 per cent year-over-year. For the past decade, annual new listings have been largely in a holding pattern between 150,000 and 160,000, despite the upward trend in home prices over the same period.

"Over the last ten years, TREB has been drawing attention to the housing supply issue in the GTA. Increasingly, policymakers, research groups of varying scope and other interested parties have acknowledged that the lack of a diverse supply of ownership and rental housing continues to hamper housing affordability in the GTA. Taking 2019 as an example, we experienced a strong sales increase up against a decline in supply. Tighter market conditions translated into accelerating price growth. Expect further acceleration in 2020 if there is no relief on the supply front," said Jason Mercer, TREB's Chief Market Analyst.

The MLS® Home Price Index Composite Benchmark was up by 7.3 per cent on a year-over-year basis in December 2019. From June 2019 onward, the annual growth rate in the MLS® HPI Composite Benchmark accelerated. The average selling price in December 2019 was $837,788 – up almost 12 per cent year-over-year. For the calendar year 2019, the average selling price was $819,319 – up by four per cent compared to $787,856 in 2018.

SALES & AVERAGE PRICE - City of Toronto

December 2019 - 

data provided by the Toronto Real Estate Board, January 7, 2020


Detached

465 sales

$1,363,357

Townhouse

44 sales

$956,552

Semi-Detached

126 sales

$1,004,477

Condo

884 sales

$656,233

Popular Communities Westside - Sales & Average Price

December 2019

W01

High Park Swansea South Parkdale Roncesvalles

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W02

High Park North-Junction Area-Lambton Baby Point-Runnymede Bloor West

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W06

Alderwood-Long Branch-Mimico-New Toronto

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Popular Communities Eastside - Sales & Average Price

December 2019

E01

North Riverdale South Riverdale Blake-Jones Greenwood-Coxwell

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E03

Broadview North Playter Estates East York Danforth Village  East  Danforth

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Popular Communities Central - Sales & Average Price

December 2019

C01

Dufferin Grove Little Portugal Palmerston-Little italy Trinity Bellwoods Niagara University Kensington Chinatown Bay Street Corridor Waterfront Communities

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C04

Englemount Lawrence Forest Hill North Lawrence Park South Lawrence Park North Bedford Park Nortown

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C10

Mount Pleasant East Mount Pleasant West

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C11

Leaside Thorncliffe Park

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