December #Toronto #realestate market charts are up! Month and year-end highlights in this blog post. As always, a few bonus charts in this thread. #TorRE /1
areacode416homes.com/december-2019-…
One of the things I manually track to see if things are heating/cooling is the percent of sales that sold for over asking (SOA). Here you can see that 416 Freeholds spent the last 9 months higher than they were last year. The 9% spread in December was the highest all year. /2
416 Condos spent the last 5 months hotter than 2018, and Dec was tied with Dec 2016 as highest ever for that month. Similarly, Dec gap of 10% higher than last year was largest gap of the year. /3
You have to go all the way back to 1999 to find a December with less condo (apt and townhome) inventory. And there are maybe 3 times more built units in the city now. The 1297 active listings are 51% below the Dec average for the decade. #lowsupply /4
I attribute the lack of condo apt units to why condo townhouses rose to 14% of all condo sales in the month. They haven't been over that since back in 2015. /5
You read full year TREB sales were 87,825. Here's the 416 portion: 32,222. First time rolling 12 month volumes have been over this long-term average since March 2018. Still below the 10-year average of 34,874. /6
Drilling down, Freeholds are still near 24-year lows. They're 16% below the 10-year average. The 13,289 was the highest since December 2017, and they're ⬆️15% YoY, though.
Condos at 18,714 are right at their 10-year avg of 18,743. The rolling 12 month is ⬆️2% at December. /7
Looking at $ volumes, comparing 416 to York Region, the pattern of the last 7 years continues where #YorkRegion is up more in positive years, and down more in negative years. So, more #volatile. /8
Total TREB sales by price point.
👉17 to 18 saw big cooling >$1.5M, as well as <$300K as prices moved out of bottom end tiers. Least harmed was $500-800K range /w condos and entry-level houses.
👉18 to 19 saw big gains in $700-$1750K. Return of lowrise, and entry still 🦾 /9
As always, link to charts PDF is found in blog, but to go direct, here you are: /10 slideshare.net/ScottIngramCPA…
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