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

December Real Estate Market

Toronto Real Estate Board December MLS sale statistics:

  • GTA single family home sales including condo townhouses and apartments - 4,399.
  • Volume - up 17.4%, compared to December 2018 3,746 sales.
  • Volume - down 37.9% compared to November 2019 7,090 sales.
  • Average price of a GTA single family home - $819,319.
  • Up 4% from 2018's average price of $787,848.

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

“Over the last ten years, TREB has been drawing attention to the housing supply issue in the GTA. Increasingly, policy makers, research groups of varying scope and other interested parties have acknowledged that the lack of a diverse supply of ownership and rental housing continues to hamper housing affordability in the GTA. Taking 2019 as an example, we experienced a strong sales increase up against a decline in supply. Tighter market conditions translated into accelerating price growth. Expect further acceleration in 2020 if there is no relief on the supply front,” said Jason Mercer, TREB’s Chief Market Analyst.

We track MLS sales daily.

  • November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
  • December 2019 55-80% of properties sold for asking or under.

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

The December residential resale market was 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.
  • The 905 region remains a softer market.
  • The central condominium market remains strong in both the re-sale and pre-construction segments.
  • 90% of buyers are currently taking out fixed rate mortgages for 5 year terms according to the Hanley Mortgage Group.

Average Price December 2019
Average Price December 2018
City (416)
$883,520
$836,457
G.T.A. (905)
$782,114
$757,411

Average GTA Prices 1992 to 2019

1992
$214,971
2006
$351,941
1993
$206,490
2007
$376,236
1994
$208,921
2008
$379,347
1995
$203,028
2009
$395,460
1996
$198,150
2010
$431,276
1997
$211,307
2011
$465,014
1998
$216,815
2012
$497,130
1999
$228,372
2013
$522,958
2000
$243,255
2014
$566,624
2001
$251,508
2015
$622,120
2002
$275,231
2016
$729,837
2003
$293,067
2017
$822,572
2004
$315,231
2018
$787,865
2005
$335,907
2019
$819,319
Follow us on Facebook to get more real estate news.