Toronto Real Estate Board | 2019 Full Year Round Up

Toronto Real Estate Board | 2019 Full Year Round Up


– Hey everyone, Richard Robbins here. Well, happy New Year and
welcome to the roaring 20s. We got a brand new decade in front of us. I am, I must admit, I’m very excited about this particular decade. The numbers are in for the
Toronto Real Estate Boards. I’m gonna take you through the numbers. What I’m gonna do is something a little different in a couple of the slides. First of all, I will show January
through December for 2019. I’ll compare December of 2018 to 2019. But then what I’m also gonna do, I’m gonna go back five years. And I will show you the total number of sales, that happened to the Toronto Real Estate
Board for the last five years, and also the average price for
the last five years as well. One announcement I wanna
make, this is the last time I’ll be doing monthly updates. I’m gonna move my updates to quarterly. Now you might say, ‘Why you doing that?’ When I started these
a number of years ago, I started these updates with the intention of showing real estate professionals how to possibly do market updates in their particular
market for their audience. Since then, obviously,
hundreds and hundreds of people are now doing these market
updates, which is great. So I thought, you keep doing yours monthly for your audience, the home
buyers and the home sellers, and what I’m going to do for
the real estate industry, is I’m going to move these to quarterly. So anyway, let’s get started! Here’s the deal everybody, if we look at January through December, we look at sales for each month, active listings at the end of each month,
months of inventory, right? Average price and days in market. As we know, the months of inventory determines the strength of pricing, four to six balanced, okay? Below four months is gonna
be a seller’s market, prices going up, and if
we get above six months, we’ve got more of a buyer’s
market, which is the case in many markets across
Canada, but not here. That means our prices are going down. If we just look at this, we can see we did 4,000 in sales in January. And then of course, it went up to 5,000, up to 7,100 and then to 9,000. Look at this, we did almost 10,000 in May, which by the way, was the
best month of the year. June we did 8860, 8595 in July,
as it generally comes down but it didn’t actually, it
stayed very strong throughout the summer here, then
we went to 7,711, okay? And then 7,825, started
to strengthen a bit, and then October was the
strongest month of the fall, at 8,491, and then just
over 7,000 ended at 4,399. Down 38% from November; however, wait ’til I show you December of 2019 to ’18, you’re gonna notice was much better. But look at this, you started with three months of inventory. By the way, this was still
a very strong marketplace. And then you can see,
it started to go down. And look where we ended up, 1.7, 1.7. What’s happened, if you look at the whole year, price wise, okay? Your market is continued
to strengthen pretty well throughout the whole year,
which is pretty cool stuff. Let’s talk about what
went on December of ’18 December of ’19, you
did 3,749 sales in ’18. You did 4,399, which is up by 17%. Your sales are up substantially
December of ’18 over ’19. And look at your price, 750 to 838. Now this is December over
December, not the whole year. But you can see, look at
this, up substantially. Why would it go from 750 to 838? Guess what, 1.7 months of inventory. Because this is so low,
obviously what happens, your prices are increasing
in your market place, which is all good, right? As we move forward, if I
look for the last five years, this is what happened the last five years in terms of total number of sales. You can see we did just
over 100,000 in ’15. Then we went up by 11% in 2016. And the of course what started to happen, it started to drop, went down to 92,000, which was down by 18% over ’16, and then we down by another 15% in 2018 over what we did in 2017. But look at this, so you
can see the trend here. It went up one month, then of course, many things took place economically in the marketplace, caused
it to go down a little bit. And now we’re movin’ back this way. I think what you’re gonna see is, you’re gonna see this continue to trend, and I think this number is gonna be substantially more than
this as we move into 2020. You might get back up here. You might get up here to
just over 100,000 in 2020. Nobody knows for sure, just my prediction. But it wouldn’t shock
me if that took place. What about prices? 2015 you did 622, that
was your average price. Then we went up by 17% to 729. Then we went up again
by another 12% to 822. And then of course, member
sales started to drop. You can see down here, so
as sales started to drop. What happened to the
price, went down to 787. And then of course you can see, because what ended up happening, our months of inventory was
low for most of the year, if we look at the average price
overall, for the whole year, it was up by 4%. Now, if I go back here, you can see, obviously, that what was going on, was you’re up substantially more in term of average price, okay, right here, if we look at December over, December’s up by 11%, but that’s December of
’18 to December of ’19, where if you look at the
numbers I was just showin’ you what that is, that’s actually for. That is for the whole year. Whoops, I just missed it there, it’s there somewhere, there it is. This is for the whole year. I’m not ‘gonna show you these slides, but I want you to know
they’re available on our blog. So we created them for you, but I’m not going to go over them all. So first of all, if you go to our blog, which you can get at our website,
you can get these slides. I also did detached,
so I did micro-markets. So this is the last three
years of sales for detached. Then what I also did
semi-detached the number of sales. Then I also did Condo townhouses. And of course we did Condo apartments. Then what we did is we get into pricing. So I give you the price
for the last three years of again the different markets. We got detached, semi-detached, we’ve got Condo townhouses
and we got Condo apartments. If you go to our blog, that information is all there for you, you can have a look at it
and you can maybe use it and talk to your customers
in some of these numbers. Okay, so, my prediction for 2020. Toronto, Greater Toronto,
you’re in for a great market. I don’t suspect we’re gonna see any interest rate increases this year, right? Who knows, but I don’t think so. The government is talking about looking even at the stress testing, maybe they’ll make adjustments to that, and make that a little bit better. So I just suspect that this year overall, you’re going to have a better year in 2020 than you did in 2019. And by the way, 2019 wasn’t all bad. Down substantially from what
it was about three years ago, but, we’re starting to move
back in the right direction. And at the end of the day everybody, remember this, it’s a beautiful life, make it count.

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