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2021 Updates Coming Soon.- Latest update (30 Nov 2020)
GTA REALTORS® RELEASE DECEMBER STATS
TORONTO, ONTARIO, January 6, 2021 – Despite an unprecedented year due to COVID-19, including necessary public
health restrictions and uncertainty surrounding the economy, Greater Toronto Area REALTORS® reported over 95,000
home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000.
“The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off
in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic
rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open
houses and showings fuelled and sustained the housing market recovery,” said Lisa Patel, Toronto Regional Real Estate
Board (TRREB) President.
Highlights from 2020 include:
• 95,151 sales were reported through TRREB’s MLS® System – up by 8.4 per cent compared to 2019. This included a
record result for the month of December, with 7,180 sales – a year-over-year increase of 64.5 per cent.
• Year-over-year sales growth was strongest in the GTA regions surrounding Toronto, particularly for single-family home
• The average selling price reached a new record of $929,699 – up by 13.5 per cent compared to 2019. This included an
average price of $932,222 in December – a year-over-year increase of 11.2 per cent. The strongest average price
growth was experienced for single-family home types in the suburban regions of the GTA.
• After a pronounced dip in market activity between mid-March and the end of May, market conditions improved
dramatically in the second half of the year, with multiple consecutive months of record sales and average selling
“While the housing market as a whole recovered strongly in 2020, there was a dichotomy between the single-family market
segments and the condominium apartment segment. The supply of single-family homes remained constrained resulting in
strong competition between buyers and double-digit price increases. In contrast, growth in condo listings far-outstripped
growth in sales. Increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in
average condo selling prices during the last few months of the year,” said Jason Mercer, TRREB Chief Market Analyst.
GTA REALTORS® Release January 2020 Stats
TORONTO, February 6, 2020 - TRREB (Toronto Regional Real Estate Board) President Michael Collins announced that Greater Toronto Area
REALTORS® reported 4,581 home sales through TRREB’s MLS® System in January 2020 – up by 15.4 per
cent compared to January 2019. On a preliminary seasonally adjusted basis, sales were up by 4.8 per cent
compared to December 2019.
“We started 2020 where 2019 left off, with very strong growth in the number of sales up against a continued dip
in the number of new and available listings. Tighter market conditions compared to a year ago resulted in much
stronger growth in average selling prices. Steady population growth, low unemployment and low borrowing
costs continued to underpin substantial competition between buyers in all major market segments,” said Mr.
The MLS® HPI Composite Benchmark price was up by 8.7 per cent compared to January 2019 – the highest
annual rate of growth for the Benchmark since October 2017. The condominium apartment market segment
continued to lead the way in terms of MLS HPI® price growth, but all home types experienced price growth
above seven per cent when considering the TRREB market area as a whole. The average selling price in
January was up by 12.3 per cent, driven by the detached and condominium apartment segments in the City of
“A key difference in the price growth story in January 2020 compared to January 2019 was in the low-rise
market segments, particularly with regard to detached houses. A year seems to have made a big difference. It
is clear that many buyers who were on the sidelines due to the OSFI stress test are moving back into the
market, driving very strong year-over-year sales growth in the detached segment. Strong sales up against a
constrained supply continues to result in an accelerating rate of price growth,” said Jason Mercer, TRREB’s
Director of Market Analysis and Service Channels.
GTA REALTORS® Release December & Annual 2019 Stats
TORONTO, January 7, 2020 - Toronto Real Estate Board President Michael Collins reported that
December 2019 residential sales reported through TREB’s MLS® System by Greater Toronto
Area REALTORS® were up by 17.4 per cent year-over-year to 4,399. Total sales for calendar
year 2019 amounted to 87,825 – up by 12.6 per cent compared to the decade low 78,015 sales
reported in 2018. On an annual basis, 2019 sales were in line with the median annual sales
result for the past decade.
“We certainly saw a recovery in sales activity in 2019, particularly in the second half of the year.
As anticipated, many home buyers who were initially on the sidelines moved back into the
market place starting in the spring. Buyer confidence was buoyed by a strong regional economy
and declining contract mortgage rates over the course of the year,” said Mr. Collins.
While sales were up in 2019, the number of new listings entered into TREB’s MLS® System was
down by 2.4 per cent year-over-year. For the past decade, annual new listings have been
largely in a holding pattern between 150,000 and 160,000, despite the upward trend in home
prices over the same period.
“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.
The MLS® Home Price Index Composite Benchmark was up by 7.3 per cent on a year-over-year
basis in December 2019. From June 2019 onward, the annual growth rate in the MLS® HPI
Composite Benchmark accelerated. The average selling price in December 2019 was $837,788
– up almost 12 per cent year-over-year. For calendar year 2019, the average selling price was
$819,319 – up by four per cent compared to $787,856 in 2018.
GTA REALTORS® Release November 2019 Stats
TORONTO, December 4, 2019 - Toronto Real Estate Board President Michael Collins announced
that Greater Toronto Area REALTORS® reported 7,090 sales through TREB’s MLS® System in
November 2019 – a 14.2 per cent increase compared to November 2018. On a GTA-wide basis,
sales were up year-over-year for all major market segments. Annual sales growth in groundoriented home types, including detached houses, led the way.
New listings entered into TREB’s MLS® System in November and the active listings count at the
end of the month went in the opposite direction compared to last year, with new listings down
17.9 per cent year-over-year and active listings down 27.2 per cent.
“An increasing number of home buyers impacted by demand-side policies over the past three
years, including the 2017 Ontario Fair Housing Plan and the OSFI mortgage stress test, have
moved back into the market for ownership housing. Based on affordability and stricter
mortgage qualification standards, many buyers may have likely adjusted their preferences,
changing the type and/or location of home they ultimately chose to purchase,” said Mr. Collins.
As market conditions continued to tighten in November 2019, with increased sales up against
an increasingly constrained supply of listings, the annual rate of price growth continued to
accelerate. The MLS® Home Price Index Composite Benchmark increased by 6.8 per cent yearover-year. The average selling price increased by 7.1 per cent year-over-year to $843,637.
Both the MLS® HPI and the average selling price for the TREB market area as a whole
experienced the strongest annual rates of price growth for the year in November.
“Strong population growth in the GTA coupled with declining negotiated mortgage rates
resulted in sales accounting for a greater share of listings in November and throughout the
second half of 2019. Increased competition between buyers has resulted in an acceleration in
price growth. Expect the rate of price growth to increase further if we see no relief on the
listings supply front,” said Jason Mercer, TREB’s Chief Market Analyst.
GTA REALTORS® Release September 2019 Stats
TORONTO, October 3, 2019 - Toronto Real Estate Board President Michael
Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales
through TREB’s MLS® System in September 2019. This result represented
strong year-over-year sales growth of 22 per cent compared to 6,414 sales
reported in September 2018. It is important to note, however, that sales
remain well-below the record September 2016 peak of more than 9,800 sales.
On a preliminary seasonally adjusted basis, the September 2019 sales level
remained in virtually the same as the August 2019 result.
The supply of listings continued to be a concern in September 2019, with new
listings down by 1.9 per cent year-over-year to 15,611. We have experienced
multiple months this year wherein the annual rate of sales growth outpaced the
annual rate of new listings growth, resulting in the overall number of active
listings at month-end being well-below last year’s levels. This speaks to
tightening market conditions and an accelerating annual rate of price growth.
The annual rate of price growth in September reached the highest point so far
in 2019. The MLS® Home Price Index (HPI) Composite Benchmark was up by
5.2 per cent on a year-over-year basis in September. The average selling price
for all home types combined was up by a similar annual rate of 5.8 per cent to
On a preliminary seasonally adjusted basis, the September 2019 average selling
price was up by 1.2 per cent compared to August 2019.
GTA REALTORS® Release August 2019 Stats
TORONTO, SEPTEMBER 5, 2019 – Toronto Real Estate Board President Michael
Collins announced that Greater Toronto Area REALTORS® reported 7,711 residential
sales through TREB’s MLS® System in August 2019. This result represented a 13.4
per cent increase compared to 6,797 sales reported in August 2018. On a monthover-month basis, after preliminary seasonal adjustment, sales were up by 0.8 per
GTA-wide sales were up on a year-over-year basis for all major market segments,
with annual rates of sales growth strongest for low-rise home types including
detached houses. This reflects the fact that demand for more expensive home types
was very low in 2018 and has rebounded to a certain degree in 2019, albeit not back
to the record levels experienced in 2016 and the first quarter of 2017.
Market conditions also became tighter in August 2019 compared to a year ago
because, while sales were up year-over-year, new listings were down by three per
cent over the same time period to 11,789. Year-to-date, growth in sales has well
outstripped growth in new listings. This is why overall active listings counted at the
end of August were down by more than 11 per cent compared to August 2018.
The MLS® Home Price Index Composite Benchmark for August 2019 was up by 4.9
per cent on a year-over-year basis. The average selling price, at $792,611 in August
2019, was up by 3.6 per cent year-over-year. Both the MLS® HPI benchmark prices
and average selling prices were up on an annual basis for major market segments.
The condominium apartment segment continued to lead the way in terms of price
growth, followed by higher density low-rise home types and finally detached houses.
GTA REALTORS® Release July 2019 Stats
TORONTO, August 6, 2019 – Toronto Real Estate Board President Michael Collins
announced that Greater Toronto Area REALTORS® reported 8,595 sales through
TREB’s MLS® System in July 2019. This result was up by 24.3 per cent compared to
July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after
preliminary seasonal adjustment.
New listings entered into TREB’s MLS® System in July 2019 were up compared to
July 2018, but by a much lesser annual rate than sales, at 3.7 per cent. With annual
growth in sales far outstripping annual growth in new listings, market conditions
clearly tightened compared to last year. Active listings at the end of July were down
by 9.1 per cent year-over-year, further reflecting tightening market conditions.
As market conditions continued to tighten in July, the average selling price increased
by 3.2 per cent on a year-over-year basis to $806,755. The MLS® Home Price Index
Composite benchmark was up by 4.4 per cent. Higher density home types continued
to drive price growth, whereas detached home prices remained down in many
communities throughout the GTA.
Broadly speaking, increased competition between buyers for available properties has
resulted in relatively strong price growth above the rate of inflation for semi-detached
houses, townhouses and condominium apartments. However, the single-detached
market segment, which has arguably been impacted most by the OSFI stress test,
has experienced a slower pace of price growth, with average detached prices
remaining lower than last year’s levels in some parts of the GTA.
GTA REALTORS® Release February 2019 Stats
Greater Toronto, March 5, 2019 – Toronto Real Estate Board President Gurcharan (Garry)
Bhaura announced that Greater Toronto Area REALTORS® reported 5,025 homes sold through
TREB’s MLS® System in February 2019. This sales total was down by 2.4 per cent on a year over-year basis. Sales were also down compared to January 2019 following preliminary
“The OSFI mandated mortgage stress test has left some buyers on the sidelines who have
struggled to qualify for the type of home they want to buy. The stress test should be reviewed
and consideration should be given to bringing back 30 year amortizations for federally insured
mortgages. There is a federal budget and election on the horizon. It will be interesting to see
what policy measures are announced to help with home ownership affordability,” said Mr.
Despite sales being down year-over-year, new listings actually declined by a greater annual
rate. This suggests that market conditions became tighter compared to last year. Tighter
market conditions continued to support year-over-year average price growth.
Both the MLS® Home Price Index Composite Benchmark and the average selling price were up
modestly on a year-over-year basis in February 2019. The MLS® HPI Composite Benchmark
was up by 2.4 per cent year-over-year. The average selling price for all home types combined
was up by 1.6 per cent over the same period. Price growth was driven by the condominium
apartment segment and higher density low-rise home types. On a preliminary seasonally
adjusted basis the average selling price was down compared to January 2019.
“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.
TORONTO, February 6, 2019 - TREB President Garry Bhaura announced that Greater
Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in
January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary
seasonally adjusted basis, sales were up by 3.4 per cent compared to December
“It is encouraging to see the slight increase in January transactions on a year-overyear
basis, even with the inclement weather experienced in the GTA region during the
last week of the month. The fact that the number of transactions edged upwards is
in line with TREB’s forecast for higher sales in calendar year 2019,” said Mr. Bhaura
The MLS® HPI Composite Benchmark price was up by 2.7 per cent compared to
January 2018. The condominium apartment market segment continued to lead the
way in terms of price growth. The average selling price was up by 1.7 per cent on a
year-over-year basis. After preliminary seasonal adjustment, the average selling price
edged lower compared to December 2018.
“Market conditions in January, as represented by the relationship between sales and
listings, continued to support moderate year-over-year price increases, regardless of
the price measure considered. Given housing affordability concerns in the GTA,
especially as it relates to mortgage qualification standards, we have seen tighter
market conditions and stronger price growth associated with higher density low-rise
home types and condominium apartments, which have lower average selling prices
compared to single detached homes,” said Jason Mercer, TREB’s Director of Market
Analysis and Service Channels.
December and 2018 Annual Statistics Released
TORONTO, ONTARIO, January 4, 2019 – Toronto Real Estate Board President Garry
Bhaura announced that Greater Toronto Area REALTORS® reported a total of 77,426
residential transactions through TREB’s MLS® System in 2018. This result represented a
16.1 per cent decline compared to 92,263 sales reported in 2017. Total new listings
entered into TREB’s MLS® System were down by 12.7 per cent over the same period to
The overall average selling price for 2018 transactions, at $787,300, was down by 4.3 per
cent year-over-year for all home types combined across the TREB market area.
Home prices were up very slightly in the City of Toronto and down in the surrounding GTA
regions. This dichotomy reflects the fact that the condominium apartment segment, which
accounted for a large proportion of sales in the City of Toronto, performed better from a
pricing perspective than the detached market segment. The average price for condominium
apartment sales across the TREB market area was up by 7.8 per cent year-over-year.
“Higher borrowing costs coupled with the new mortgage stress test certainly prompted
some households to temporarily move to the sidelines to reassess their housing options.
With this said, it is important to note that market conditions were improved in the second
half of the year, both from a sales and pricing standpoint,” said Garry Bhaura.
“After spiking in 2017, new listings receded markedly in 2018. In many neighbourhoods,
despite fewer sales from a historic perspective, some buyers still struggled to find a home
meeting their needs. The result was a resumption of a moderate year-over-year pace of
home price growth in the second half of the year. Price growth was strongest for less
expensive home types, as many home buyers sought more affordable home ownership
options,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.
GTA REALTORS Release Annual Stats for 2017 Summary
TORONTO, ONTARIO, January 4, 2018
Toronto Real Estate Board President Tim Syrianos
announced that Greater Toronto Area REALTORS reported 92,394 sales through TREB’s MLS
System in 2017. This total was down 18.3 per cent compared to the record set in 2016.
Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan
(FHP) was announced. The pace of sales picked up in Q4, as the impact of the FHP started to
wane, and some buyers arguably brought forward their home purchase in response to the new
OSFI stress test guidelines effective January 1, 2018.
“Much of the sales volatility in 2017 was brought about by government policy decisions.
Research from TREB, the provincial government and Statistics Canada showed that foreign
home buying was not a major driver of sales in the GTA. However, the Ontario Fair Housing
Plan, which included a foreign buyer tax, had a marked psychological impact on the
marketplace. Looking forward, government policy could continue to influence consumer
behavior in 2018, as changes to federal mortgage lending guidelines come into effect,” said Mr.
The average selling price for 2017 as a whole was $822,681 – up 12.7 per cent compared to
2016. This annual growth was driven more so by extremely tight market conditions during the
first four months of the year. In the latter two-thirds of 2017, fewer sales combined with
increased listings resulted in slower price growth. In December, the MLS Home Price Index
(HPI) Composite Benchmark was up by 7.2 per cent year over year, and the overall average
selling price was up by 0.7 per cent year over year.
“It is interesting to note that home price growth in the second half of 2017 differed substantially
depending on market segment. The detached market segment – the most expensive on
average – experienced the slowest pace of growth as many buyers looked to less expensive
options. Conversely, the condominium apartment segment experienced double-digit growth, as
condos accounted for a growing share of transactions,” said Jason Mercer, TREB’s Director of