The average year sales price in the great Toronto area is up to 3.5 % on a year to year base.
So that means if you're taking consideration last year and to this year the prices are up as an average of 3.5%.
The price is still be driven by condominiums apartments and low-rise market segment.
Our regional economy is continuous very strong and the population continues to grow in the GTA area so that will contribute to a greater demand.
The demand is going to outpace the supply.
When we are talking about October sales for the whole GTA we can see that 45% of sales were from detached homes, semi-detached was 10%, Townhouses 15% and condos 30%. So detached homes are the big majority but they are followed very close by condos.
If we break down this numbers into to distinct areas; Toronto (416 area) and Outside Toronto (905 area) and make a Year-Over-Year percent Change. We notice that Toronto outperformance the other areas except for townhouses where the (905) are was better.
Toronto 1.4% , 8.1% , 2.9% , 8.6%
Outside Toronto 0.4% , 3.4% ,4.9% , 5.9%
Let’s review how year to date sales was distributed on all GTA regions:
38% sales happen in Toronto, for sure it is the biggest market in the GTA. More than 25,000 sales year to date
20% happen in the Peel region and the main reason is that Mississauga and Brampton are part of this area, and they are big cities. Just above 14,000 sales
15% York Region. Richmond Hill, Newmarket, Vaughan are among other cities part of this region. Just above 10,000 sales
11% from Durham Region. Witch includes Pickering, Ajax, Whitby, Oshawa, Clarington, and a few others. Almost 8,000 sales.
10% from Halton Region. Burlington, Milton, Oakville and Halton Hills are part of this region with almost 7,000 sales
Average price by areas (approx)
Toronto $838k - Pell $713k - York $920k - Durham $594k - Halton $854
That means if you are looking for cheaper houses you should investigate the Durham area.
Some very important facts
Selling Price / Listing Price
This number talks about what is the Listing Price and what you end up getting when you close the deal. Toronto got 100%. That means as an average price Toronto basically sold for the price that it was listed for. All other areas sold for a little less than what was listed.
We also have another number to consider. Days on Market (DOM), how long they stay in the market before it was sold.
Toronto 100% 20
Peel 98% 22
York 97% 30
Durham 98% 23
Halton 97% 26
In the city of Toronto, the price year-over-year went down a little bit -6.4%.
The worst case was Richmond Hill -7.73%, in the Durham region we got a little bit of increase of 1.3%. But surprisingly one of the best places where the prices were increased was in Clarington we got 6.59% almost 7% increase compared to last year, this is unbelievable.
Toronto had an increase in +5.3%, York region again was some the worst numbers, the average price went down -5.2% and the best place where we have the houses were in Clarington +7.82 increase. So Clarington area It's blooming. Lots of the selling is going on over there.
It's different they were a little bit increase of +3.59% compared last year as an average for the whole area. The best place was Halton Hills+ 5.94% and the worst was Newmarket was - 8.31%.
The big winner is condos and of course, +9.56 overall average increase from when are we talking about the year to year, but Toronto is the highest number is +10.92% compared to last year. It’s unbelievable.
If you would like to have some more deep information about your area or specific location. Just send me an email, text or use my website to request some additional information.
Looking forward to hearing your comments.