Real Estate

TREB June 2020 Report

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  • Jul 7th, 2020 8:24 am
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[OP]
Sr. Member
Dec 19, 2010
921 posts
454 upvotes

TREB June 2020 Report

http://trreb.ca/files/market-stats/mark ... mw2006.pdf

TORONTO, ONTARIO, July 7, 2020 – Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 8,701 sales through TRREB’s MLS® System in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89 per cent) and seasonally adjusted basis (+84 per cent), and was only down by 1.4 per cent compared to June 2019.

Year-over-year growth in sales was reported in some areas and market segments. Especially notable were the detached and townhouse market segments in the GTA regions surrounding the City of Toronto.

New listings were up slightly on a year-over-year basis by 2.1 per cent. However, active listings on TRREB’s MLS® System at the end of June 2020 were down by 28.8 per cent compared to June 2019. Growth in new listings will need to outstrip growth in sales for a number of months before active listings approach last year’s levels.

The MLS® Home Price Index Composite Benchmark was up by 8.2 per cent year-over-year in June. The average selling price for all home types combined was $930,869 – up by 11.9 per cent compared to June 2019. The actual and seasonally-adjusted average selling price was also up substantially compared to May 2020, by 7.8 per cent and 9.8 per cent respectively.

Average and benchmark selling prices were up year-over-year for all major home types. The strongest average annual rates of price growth were experienced in the detached and semi-detached market segments in the City of Toronto at 14.3 per cent and 22 per cent respectively. This, coupled with the fact that average selling price growth outstripped growth in the MLS® HPI benchmarks, points to a resurgence in the higher-end market segments.
6 replies
Deal Fanatic
Mar 27, 2004
7746 posts
5710 upvotes
Toronto
lol @ bears.
Full-time Realtor
Deal Expert
Feb 29, 2008
19075 posts
17401 upvotes
Tarrana & The Ri…
predictions are a waste of time. Bears speak about the future and what will happen with such conviction though. You slmost have to give them a hard time when thy are proven wrong.

Thry May get their time to celebrate in the fall but we will see.
Sr. Member
Jul 7, 2019
766 posts
633 upvotes
Average GTA Prices 2020
Jan: 839K
Feb: 910K
March: 902K
April: 821K
May: 860K
June: 930K

Hope those who were looking for a deal were able to find one.
Deal Guru
Feb 22, 2011
12515 posts
15997 upvotes
Toronto
MotoCross817 wrote: Average GTA Prices 2020
Jan: 839K
Feb: 910K
March: 902K
April: 821K
May: 860K
June: 930K

Hope those who were looking for a deal were able to find one.
Year is averaging $891k, the previous all time high was in 2017 at $822k. We are on course to have the most expensive year ever by far.

Market will probably heat up too because of lack of inventory;

Months of inventory June 2019: 2.23

Months of inventory June 2020: 1.61 (LOL at @Isostar who said it would be over 10)
Last edited by sircheersa on Jul 7th, 2020 8:23 am, edited 1 time in total.
Deal Expert
Feb 29, 2008
19075 posts
17401 upvotes
Tarrana & The Ri…
sircheersa wrote: Year is averaging $891k, the previous all time high was in 2017 at $822k. We are on course to have the most expensive year ever by far.
All depends on this second wave. But as long as detached homes continue to be on fire we’re going to see average price go up. Imagine, prices were being carried by condos ....back when detached prices were falling. Condos prices are leveling off but detach and semis are surging. The numbers are going to be huge if the 2nd wave is dealt with properly. FOMO is also going to pick up.
Deal Guru
Feb 22, 2011
12515 posts
15997 upvotes
Toronto
JayLove06 wrote: All depends on this second wave. But as long as detached homes continue to be on fire we’re going to see average price go up. Imagine, prices were being carried by condos ....back when detached prices were falling. Condos prices are leveling off but detach and semis are surging. The numbers are going to be huge if the 2nd wave is dealt with properly. FOMO is also going to pick up.
Second wave is going to be a joke, the virus ran rampant uncontrolled for months the first time. This time most people are being cautious and many more working from home. Plus now people have to wear masks.

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