GTA Condo Market Report Q4 2017

GTA Real Estate Market Report January 2018

Level of Listings Second Lowest In 10 Years

Greater Toronto Realtors reported 4,019 residential sales through the Toronto MLS system in January 2018. The number of transactions in January represented a 22.0% decline compared to 5,155 transactions reported in January 2017.

For the region as a whole detached homes in the GTA experienced the largest sales decline at 26.0%.

The number of new listings reported in January 2018 was up by 17.4% compared to January 2017. The number of active listings reported in January 2018 was up by 136.3% compared to January 2017. However, it is important to note that the level of new listings was the second lowest for the month of January in the past 10 years.

“TREB released its outlook for 2018 on January 30th. The outlook pointed to a slower start to 2018, especially compared to the record-setting pace experienced a year ago. As we move through the year, expect the pace of home sales to pick up, as the psychological impact of the Fair Housing Plan starts to wane and home buyers find their footing relative to the new OFSI-mandated stress test for mortgage approvals through federally regulated lenders,” said Mr. Syrianos, TREB’s President.

The average price in January was down by 4.1% from the same time last year to $736,783 due in large part to a smaller share of detached home sales versus last year. Condo apartments in the GTA led the way in terms of an average price increase at 14.6% compared to the same time last year. In the City of Toronto the average price was up for all home types except for detached homes.

“It is not surprising that home prices in some market segments were flat to down in January compared to last year. At this time last year, we were in the midst of a housing price spike driven by exceptionally low inventory in the marketplace. It is likely that market conditions will support a return to positive price growth for many home types in the second half of 2018. The condominium apartment segment will be the driver ofn this price growth,” said Jason Mercer, TREB’s Director of Market Analysis.

Sales of Toronto (416 area code) condominium apartments decreased by 19.8% in January  2018. The average selling price of a Toronto condo increased by 15.1% in January 2018 from the same time last year to $543,279.

Condominium apartments accounted for 31.7% of total GTA sales in December while detached homes accounted for 41.3% of the total sales.

Other notable statistics include the average days on the market for January at 32 days, up from 19 days a year earlier.  The sales-to-listings ratio for January 2018 was 33.8% which is still classified as a seller’s market. A ratio from 24%-28% is considered a balanced market.

Sellers are looking for market value for their property. I prepare a comparative market analysis (CMA) for all of my Buyer clients prior to submitting an offer to determine the property’s market value range

Real estate is very neighbourhood specific, building specific  and even very street specific in some areas. The numbers as reported above are GTA averages. Results in one neighbourhood , on one street or in one building do not indicate that all other neighbourhoods, streets or buildings are experiencing the same results. We are still seeing multiple offers in some areas for the best homes and condos.

For all of your real estate questions please contact me direct (416-520-6746) or by email,

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Welcome to 900 Mt. Pleasant Rd, Suite 1102

For Sale

MLS: C4064742

Suite 1102 Has A CUSTOMIZED Design Not Found In Any of The Other “02” Units.  Working With The Builder At The Time Of Purchase The Current Seller’s Re-Designed The Layout Adding Functional Living Space And Many High-End Tasteful Upgrades To Make This A Truly A One Of A Kind Suite At 900 Mt. Pleasant Rd.

Stunning  South-West  Corner Suite With Three Walk-Outs To Two Large Balconies, South And West Exposure.  Floor To Ceiling Windows. Natural  Light Galore.

Exceptional Split Two Bedroom Design With 1235sf of Functional Living Space. Formal Open Dining Room. Spacious Living Room.

A Large Master Bedroom With A Terrific Walk-In Closet   The 3pc Ensuite Washroom Has A Large Walk-In Shower.

A True Chef’s Kitchen With Marble Counter-Tops, Marble Backsplash, Glass Tile Flooring And Upgraded Cabinets.  Upon Request The Builder Enclosed The Kitchen Thereby Adding More Counter Space And Cabinetry.  Two Pantries Were Added. The Kitchen Separates The Living Space With Two Sets Of Fashionable Glass Doors.

A  Customized Office Space Was Added With Built-In Cabinetry.

The Second Bedroom Is Spacious With A Double Closet And A Walk-Out To A Balcony.

The Second Washroom, Located Away From The Immediate Living Area For Privacy,  Is A 4pc With A Glass Tub Enclosure.

Inclusions: All Light fixtures, All Stainless Steel Appliances: Fridge, Built-In Dishwasher, Stove. Microwave/Hood Fan. Stacked Washer And Dryer. Parking. Two Lockers. Concierge, Gym, Party/Meeting Room, Guest Suite.

For more information:

For all of your real estate questions please contact me direct (416-520-6746) or by email,

Oh, by the way……if you know of someone who would appreciate the level of service I provide, please call me, text me or email me with their name and number. I’ll be happy to follow up and take great care of them.