Real Estate

Locked: 7 Years of October Toronto Prices, detached and condos at all time high for month of October

  • Last Updated:
  • Nov 9th, 2018 2:33 pm
Deal Expert
Feb 22, 2011
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Toronto

7 Years of October Toronto Prices, detached and condos at all time high for month of October

Image
Last edited by sircheersa on Nov 6th, 2018 11:38 am, edited 1 time in total.
270 replies
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Dec 13, 2016
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It doesn't look good..... for bears.
Deal Guru
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Jun 26, 2005
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Toronto
Thank you OP, we can always count on you for stats.

These numbers confirm what my agent has been always telling me. Property value doubles approx. every:

7-8 yrs for detached
8-9 yrs for townhouse
9-10 yrs for condo

In fact, thanks to the recent condo boom, condos doubled even faster than 9-10 yrs.

Even when wages don't support it, it doesn't matter. its about demand and supply.

There's lots more people moving to Toronto in the future, I ain't seeing any slowdown.
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Aug 3, 2005
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BiegeToyota wrote: It doesn't look good..... for bears.
LOLLLL

Bears have been in shambles for years now....

The best ones are the delusional ones that still think a crash is coming and they are going to get cheap RE while all the current owners go broke LOL
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Feb 9, 2009
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How’s the shoe count looking ?
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Dec 13, 2016
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Can someone find a similar chart for Calgary and Ottawa?
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Dec 4, 2016
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BiegeToyota wrote: Can someone find a similar chart for Calgary and Ottawa?
Ottawa would look pretty terrible. Going up until around 2011/2012, then flatline until 2016. Federal layoff really hurt RE. Calgary probably followed WCS prices.
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Feb 13, 2018
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If the charts can talk
It’s saying buy buy buy, things can only go up!
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Jul 8, 2010
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Looking at the last 3-4 years, where is that 10% yearly average increase for detach that everybody is talking ?!?! Or average does not work in details?
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Dec 10, 2004
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rjg4235 wrote: Image
The graph is wrong.
1. Prices for condos only went up and continue to go up in the downtown core. For the rest of the city there was a dip and prices went down to 2016 levels. Same with houses, there was a dip in prices and I've seen plently of ~ 1.3M houses that went down to as low as 900K. If you want real data, go and look for yourself on sites that show sold prices.
I use voice typing, expect mistakes...
Deal Expert
Feb 22, 2011
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dazz wrote: The graph is wrong.
1. Prices for condos only went up and continue to go up in the downtown core. For the rest of the city there was a dip and prices went down to 2016 levels. Same with houses, there was a dip in prices and I've seen plently of ~ 1.3M houses that went down to as low as 900K. If you want real data, go and look for yourself on sites that show sold prices.
Show actual data or this post is useless.
Deal Addict
Dec 30, 2012
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dazz wrote: The graph is wrong.
1. Prices for condos only went up and continue to go up in the downtown core. For the rest of the city there was a dip and prices went down to 2016 levels. Same with houses, there was a dip in prices and I've seen plently of ~ 1.3M houses that went down to as low as 900K. If you want real data, go and look for yourself on sites that show sold prices.
It's only showing October prices. The spring 2017 bubble peak (for detached) is not represented.
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Aug 3, 2005
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dazz wrote: The graph is wrong.
1. Prices for condos only went up and continue to go up in the downtown core. For the rest of the city there was a dip and prices went down to 2016 levels. Same with houses, there was a dip in prices and I've seen plently of ~ 1.3M houses that went down to as low as 900K. If you want real data, go and look for yourself on sites that show sold prices.
So you're just going to make stuff up and provide no graphs/links?

You've seen "plenty" of houses that were $1.3M that are now $900k and so what? Should we assume $900k is the average now?

My oh my you bears are pathetic.
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Jan 6, 2011
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What's special about 7th yr and October?
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Feb 22, 2011
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LongLiveRFD wrote: What's special about 7th yr and October?
The only way I knew how to compile this data was to manually pull it off the TREB reports. I did every month for houses and condos in Toronto for 7 years and got bored of doing it. If anyone else has more data I can definitely add it but I have no patience to pull anymore lol.
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Feb 22, 2011
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I'd also like to add that October detached and condos were both all time highs for that month. There has never been an October in Toronto where condos or houses were more expensive than they are now.
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Jan 6, 2011
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rjg4235 wrote: The only way I knew how to compile this data was to manually pull it off the TREB reports. I did every month for houses and condos in Toronto for 7 years and got bored of doing it. If anyone else has more data I can definitely add it but I have no patience to pull anymore lol.
At least you invested in elbow grease. Unlike the sorrow bears, just hot air with high sulfur content.

It's interesting detached peaked in '16. If locational value is outperforming land value, this means it makes sense to buy condos then roll into house when condos peaked.
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Nov 15, 2004
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rfdrfd wrote: Thank you OP, we can always count on you for stats.

These numbers confirm what my agent has been always telling me. Property value doubles approx. every:

7-8 yrs for detached
8-9 yrs for townhouse
9-10 yrs for condo

In fact, thanks to the recent condo boom, condos doubled even faster than 9-10 yrs.

Even when wages don't support it, it doesn't matter. its about demand and supply.

There's lots more people moving to Toronto in the future, I ain't seeing any slowdown.
Yeah, this is totally sustainable. There's no reason the average Toronto house shouldn't cost 10.5 million dollars by 2039, and 20.8 million 7 years after that. Everyone can keep pace with a constant 17% growth rate when wages don't really rise.
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Nov 28, 2016
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Im not going to even pretend I know enough about this on the investment side

But doesnt anyone ever just buy a place to live in? As in you move in and your plan is to stay for 10 or 20 years?

Is this just to some another investment they hope to make a killing on, when they dont know whats going to happen the next 5-10, 15 or 20 years

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