Toronto Real Estate Board | August 2019 Market Stats

Toronto Real Estate Board | August 2019 Market Stats

– Hey everyone, Richard Robbins here. Well, the numbers are in for
the Toronto Real Estate Board for the month of August, and overall, I’ve got some very good news for you. What I’m also gonna do, I’m gonna compare July and August of last year to July and August of this year so we can compare the two summers. And then at the end, I’m gonna show you the last five years, how many sales the Toronto Real Estate
Board did for the whole year, and I’m gonna project out what I think we’re gonna do for the rest of this year. So let’s have a look. January through August,
let’s look at the numbers. August we did 7711 sales, July we did 8595. We’re down by 10.3%. Okay, so I’m starting
out with, you’re going, “Whoa, whoa, whoa, where’s
the good news, Rich?” Well, August is almost
always lower than July in almost every market. Because a lot of people are on holidays, kids are going back to
school, parents busy with many other things
other than buying or selling real estate, so this is not unusual. But what about our months of inventory? Remember, months of inventory determines the strength of the
market, supply and demand. Four to six balance. Above six, what you’re gonna
find is a buyer’s market. Below four, you’re gonna
find a seller’s market. So you can see we started the year at three months of inventory, went to 2.6, 2.2 in March, then went
to two April, two May, 2.2 June, 2.1 in August,
or July, and 2.1 in August. So basically, right now, we’re sitting in a very strong market
pricewise generally. Saying that, you’re gonna
say yeah, but 807 was July and we’re at 793. That means that a lotta
condos were selling, lower priced homes to
bring the average down. That’s all that is telling me right there. What about if we look
at August of last year to August of this year. Last year 6797 sales, this year 7711. We’re up by 13.4%, very good news. What about prices? 765 to 793, prices are up by 3.6%. Very healthy growth. It’s not 10, 15, 20% like
it was in year’s past, which is good. This way it’s sustainable, everybody. The market can continue at this pace for a long period of time. What if we compare the months of inventory for the last three years? First of all, let’s just look
at, say, the yellow line. So the yellow line was
last year, that was 2018. You can see, we were almost the same, the white is this year. But look what happened when we hit April. Months of inventory was up here last year, now it’s down here. So you can see what’s going on. In terms of pricing, our market
is much stronger right now, okay, than it was at the
same period last year. And I suspect we’re gonna
see it keep going this way, which means your prices
will continue to rise for the rest of this year. That’s good stuff. What about the summer months? July last year, 6916
in sales, we did 8595. Up substantially. Last year August, 6797, we did 7711. Up substantially. What about months of inventory? Last July 2.9, this July 2.1. 2.6 last August, 2.1. This is all very good news, everybody. Look at days on the market, are down. So what’s happening right now is your market is very healthy, your market is very strong. Sales are still off more
than they were, say, two, three years ago, there’s no question. However, they’re better this year than they were last year. Let me show you. This here is 2014 to 2018. Here’s your total sales. That’s what went through the
Toronto Real Estate Board. You had 92,000, we had
over 100,000, 113,000. And then in 2017, we’re back down to 92, which was the same as 2014. And then we went to 78,000. That was last year. I think this is probably the slowest year we might see for a while, barring any huge economic change. But here’s what’s interesting. January through August, this
is two-thirds of the year. This is the last one-third
of the year right here. So you can see, you did 54,204 in the first two-thirds of 2018. We did 60,418, which is up substantially by like 6,000 sales, very good news. Now what we did is the
yellow is just a projection. So we did the calculation. I’m not gonna get into how we did it, but we figured out what is projected to do for the rest. So we did 23,018 in the
last one-third of last year. And we’re projecting we’re
gonna get around 25,000. Which means it’ll bring
us in at 85,000 sales, opposed to 78,000. Which, by the way, if you look at that, that’s over 7,000 sales
more in 2019 than 2018. So it’s all very good news. So the deal is, if we’re
gonna do another 25,000 sales this year, who’s gonna do them? Are you gonna be doing a lot of them? I hope so. If there’s anything we can do to help you here at RRI, you let us know. And at the end of the
day, remember everybody, it’s a beautiful life. Make it count.

One thought on “Toronto Real Estate Board | August 2019 Market Stats

  1. Great stuff man, just subbed

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