TREB predictions for 2020:
1) GTA sales - calling for 97,000, which would be ⬆️9,200 (+10.5%) and make it 3rd highest volume ever.
2) GTA avg price - saying $900,000 (+9.8%). Detached (highest $ amounts) would have to get a lot higher in the mix.
TREB Prediction history... /1
I have a spreadsheet for that. 🤓 First, transactions. Let's just say they haven't been the second coming of Nostradamus. Last year was first time they were within 10% in last few years, anyway. Feeling pretty bullish going into 2020, esp. if inventory low. /2
Now price. They actually have a better record at this, nailing 2 of the last 3 years. $900K seems aggressive to me, so I'd guess they'd be banking on big sales gain in detached to pull that up. However... /3
TREB states that "Sales growth will be driven by the higher density low-rise market segments (semi-detached houses and town houses) and the condominium
apartment segment." If there's more condos in the mix that will drag down overall average, even if they're gaining in price. /4
I'll take the under on transactions and average price. See you in a year to see how this plays out! 🔮#torontorealestate /5
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