Column Toronto Real Estate Brokerage Royal LePage RES Ltd/Johnston and Daniel Division Toronto REALTORS® Louise Dodd and Jason Dodd
Column Middle Toronto REALTOR® Louise Dodd Toronto REALTOR® Jason Dodd Toronto Real Estate Services Toronto Real Estate for Sale Previous Toronto Real Estate Sales Toronto Real Estate Information and Other Information
February Real Estate Market

Toronto Real Estate Board February MLS sale statistics:

  • GTA single family home sales including condo townhouses and apartments - 5,025.
  • Volume - down 2.4% compared to February 2018 5,148 sales.
  • Volume - up 25% compared to January 2019 4,009 sales.
  • Average price of a GTA single family home - $766,197.
  • Down 2.6% from 2018's average price of $787,195.

(The GTA is Burlington to Clarington, Lake Ontario to Lake Scugog)

"Home sales reported through TREB’s MLS® System have a substantial impact on the Canadian economy. A study conducted by Altus for TREB found that, on average, each home sale reported through TREB resulted in $68,000 in spin-off expenditures accruing to the economy. With sales substantially lower than the 2016 record peak over the last two years, we have experienced a hit to the economy in the billions of dollars, in the GTA alone. This hit has also translated into lower government revenues and, if sustained, could impact the employment picture as well,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

We track MLS sales daily.

  • November 2016 to May 30th 2017, 90% of properties in central districts sold for over asking price.
  • February 2019 45-75% of properties sold for asking or under.

(Central districts cover the Lake to York Mills, and the Humber River to Victoria Park.)

The February residential resale market continues to be a story of different markets that vary by housing type and location.

  • In central Toronto limited supply and strong demand, meant bidding wars and "bully offers" in both freehold and condos if the list price was reasonable.
  • There was a decline of 6.2% for new listings from a year earlier. And in February 2018, buyers complained of limited inventory.
  • A recent Urbanation study predicts an average 6% price gain in 2019 for condominiums, extending a 19 month period when condominium prices have outpaced house prices. (Urbanation, founded in 1981, provides data and analytics on GTA condominiums. Their clients include developers, lenders, investors, realtors, and municipalities.)
  • 905 region resale homes where the average price has remained flat since October 2017 - remains a soft market.

Average Price February 2019
Average Price February 2018
City (416)
$840,211
$806,524
G.T.A. (905)
$744,672
$743,099

Average GTA Prices 1993 to 2018

1993
$206,490
2006
$351,941
1994
$208,921
2007
$376,236
1995
$203,028
2008
$379,347
1996
$198,150
2009
$395,460
1997
$211,307
2010
$431,276
1998
$216,815
2011
$465,014
1999
$228,372
2012
$497,130
2000
$243,255
2013
$522,958
2001
$251,508
2014
$566,624
2002
$275,231
2015
$622,120
2003
$293,067
2016
$729,835
2004
$315,231
2017
$822,572
2005
$335,907
2018
$787,300
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