You deserve better.

A full service real estate, marketing and technology team driven by people - for people

LOADINGloder

December 2017, December 2017 Real Estate, 2017 Real Estate Report

December 2017 – What A Ride – The New Street Resale Real Estate Report For The Greater Toronto And Hamilton Region

January 11, 2018

December 2017 -  What a Ride  - The New Street Resale Real Estate Report for The Greater Toronto and Hamilton Region

What a rollercoaster ride. Looking at the chart below, that's pretty much how you can summarize the real estate market in 2017 in the Greater Toronto & Hamilton Area markets. The average price of a home increased by just shy of a full percentage point to $735,021 in the Toronto Real Estate Board MLS® System from the previous year. The Realtors Association of Hamilton & Burlington saw a more significant jump of 11.5% to $521,648. Although the monthly trend in the average price for both boards was similar, the strong demand for affordable housing after the Fair Housing Plan was introduced in April 2017 resulted in the Hamilton region seeing a much more significant year over year increase than the GTA throughout the latter part of the year including December.

GTA & Hamilton Home Prices - TREB & RABH MLS Systems - Last 12 Months

New-Street-Real-Estate-Report-Resale-17-12-cut-02

December is historically a slow month and with the market calming down in 2017, it's not a surprise that sales were in the negative. We saw over 30% less sales in December than in the previous month before and a 7-15% dip from last December. The time it takes to sell a home on the market was up significantly with the average Days on Market for a home increasing by 35-52% from the previous year between both real estate boards. Interestingly, new listings were down from last month but up from last year by approximately 50% on the Toronto Real Estate Board. In the Hamilton-Burlington area, new listings were down on a monthly and annual level.

GTA & Hamilton Homes Sales Stats – December 2017

New-Street-Real-Estate-Report-Resale-17-12-cut-01

When we evaluate each home type individually in the Toronto Real Estate board,  we see similar trends to previous months as well as interesting new insights:

  • Detached homes continue to see slight drops in their average price, with double-digits decreases in the number of sales
  • The average price of a condo was up over 14% in both the 905 and 416 areas making it the home type that saw the highest amount of growth in price over 2017
  • The semi-detached market in Toronto saw a 25% increase in number of sales from the previous year with the price also up 11.5%

GTA Sales & Average Price by Home Type -  December 2017

The Realtors Association of Hamilton-Burlington MLS System reported a total of 713 freehold and condominium sales in December. Down by double digits from the previous month and from December last year. With the prices continuing to dip slightly from the previous month, the average price from the previous year was still up by 7.4% on freehold homes and 22.6% on condominiums.

Hamilton & Burlington Sales & Average Price by Home Type - December 2017

New-Street-Real-Estate-Report-Resale-17-12-cut-05

When we look at the stats on a map for each community in the Hamilton-Burlington area we see how things are performing on a more local level:

  • Sales in Burlington were down by 38% from last month but still up from last year by 7.5%
  • The Hamilton Mountain area was up in sales and the average price when compared to last year
  • Grimsby saw the largest average price gains ranging from 33-50% from the previous month and year at $762,215
  • Dundas was right behind Grimsby seeing the average price jump from 25-40%  from the previous month and year at $714,491
  • Ancaster saw the third highest price jump from the previous month and year ranging from 15-20% but held the highest average home price in the region at just under $800,000.

Hamilton & Burlington Prices & Sales by Community (RAHB's MLS System) - December 2017

New-Street-Real-Estate-Report-Resale-17-12-Hamilton-Burlington-AreaMapStaats  

Now let's dig into the GTA. Here is some interesting stats on how home types performed in local markets throughout the Greater Toronto Area in December 2017. Toronto

  • Condo Towns in the west end of Toronto saw a 48.4% jump in sales and a 19% jump in the average price from the previous year.
  • The average price of a condo was up across the City, with the east-end seeing the highest jump at 21.8% from the previous year
  • The average price of a Semi-detached home was up across the city with the west-end seeing a 16.4% increase

Mississauga

  • The average price of a detached home averaged at just over 1 million dollars, up almost 4% from last December. With sales at similar levels to the previous year.
  • The average price of a condo ended up at approximately $400,000 in December, up more than 15% from the previous year. With the number of sales up by 2.3%.
  • The overall number of sales in Mississauga for the month of December was 490. This was within a 1% difference from the previous year. Prices were up by 4.3%.

Oakville

  • Oakville ended off the year on a positive note, with prices up over 4% on average making the average price of a home just over 1 million dollars. This coins Oakville as the most expensive city (on average) to buy a home in the GTA.
  • Although detached home sales were down by over 15% in Oakville, the price was still up a healthy 8.5% from the previous year. Averaging approximately 1.35 Million
  • Townhomes almost doubled in sales volume with the average price up by 11.3%
  • One of the biggest price increases seen in all of GTA was the 41.8% increase in the average price of a condo in Oakville in December at $539,404.

Other 

  • Sales activity throughout the York region remained down from last year
  • The average prices in Newmarket, Aurora and Richmond Hill all saw double-digit dips, mainly in single-family homes
  • Condos in Vaughan, Richmond Hill and Markham saw 12-20% increases in their average price
  • Average prices in Brampton & Halton Hills were up across the board in December 2017 from the previous year
    • With condo towns and condos in Brampton up over 20%
    • Detached, semis and townhomes  in Brampton were up 5-12%
    • With only 43 sales, Halton Hills saw average price jumps of 7-60%

GTA Prices & Sales by Area (TREB's MLS System) - December 2017

New-Street-Real-Estate-Report-Resale-TREB-Toronto-Mississauga-Oakville-Stats

 

The real estate market definitely resembled an unpredictable roller coaster ride throughout 2017. With skyrocketing prices early on in the winter to a 16-part provincial effort to slow down the market in the spring to mortgage hikes that kept things unpredictable throughout the latter part of the year. It was an interesting year surrounded by a myriad of trends from across the region. It's important to note that generalizing the market is difficult and it's important to analyze stats on a granular level for a longer term to really understand a specific market. These monthly reports simply help provide us with a certain level of insight on the general fluctuations that are going on in the market. We look forward to releasing our annual real estate report in coming weeks and going even deeper on our analysis in 2018. Let us know your thoughts on Twitter, Facebook or Instagram.

Note: Many of the stats in this report use home type classifications and averages to provide a general idea of recent activity in the real estate market throughout the GTA and Hamilton regions. These averages give us a high level summary of the real estate market throughout the region and within each city compared to the previous month and year. These stats may or may not be relevant to a particular home or homes within a particular community. To better understand the home value of any particular property it is best to request a CMA from a REALTOR® and analyze sales of comparable homes within close proximity of the subject property.

Opinions are my own and should not be taken as advice. Data Compiled by New Street from TREB (Toronto Real Estate Board) and RAHB (Realtors Association of Hamilton-Burlington). In association with Right at Home Realty Inc., Brokerage, 5111 New Street, Burlington, ON L7L 1V2. The information here is deemed reliable but not guaranteed by New Street, TREB or RAHB. Not intended to solicit listed properties or buyers under agency agreements.

Robert Jendrzejczak (SA)

As the Founder of New Street, Robert is passionate about optimizing the customer experience. He is a stickler for real-world business results. Rob has developed deep insights into the market and an insider perspective of what homebuyers are looking for these days. When he’s not helping New Street clients, he’s probably catching a run while purposefully ignoring the stop signs. Follow robertj.ca on Instagram.

All Stories By : Robert Jendrzejczak (SA)

Recent News & Reports

Etobicoke / Toronto West Real Estate Market Report // May 2019
Etobicoke / Toronto West Real Estate Market Report // May 2019 June 2019
Etobicoke / Toronto West Real Estate Market Report // May 2019 June 2019

  New Street May 2019 Etobicoke & Toronto West Real Estate Market Report  // 📊 The average price of a home in the Toronto West area was $849,160📊 This figure was up 3% from the previous month 📊 Up 9% from last year in May 2018 ----- 📊 Sales volume was up by double-digit percentages again from last month by 16%📊 Up 27% from May 2018 ----- 📊 Toronto West had 1.9 months of supply in May 2019, lower than the GTA average of 2.5 months.📊 Homes are selling for over asking at 102% of

  New Street May 2019 Etobicoke & Toronto West Real Estate Market Report  // 📊 The average price of a home in the Toronto West area was $849,160📊 This figure was up 3% from the previous month 📊 Up 9% from last year

Read more
Hamilton Area Real Estate Market Report // May 2019
Hamilton Area Real Estate Market Report // May 2019 May 2019
Hamilton Area Real Estate Market Report // May 2019 May 2019

  The New Street May 2019 Greater Hamilton Region Real Estate Report //   Average Prices // 📊 The average price of a home in the Hamilton-Burlington Region was $549,891 in May📊 This figure is up from the previous month of April by 4%📊 Up 6% from May 2018📊 Up 1.2% from May 2017 (when the market was getting heated) 📊 21% jump from 3 years ago in 2016.   Sales Stats // 📊 Sales volume was up from last month by 14% and 17% up from May 2018, totaling 877 total sales in May📊 This figure is down

  The New Street May 2019 Greater Hamilton Region Real Estate Report //   Average Prices // 📊 The average price of a home in the Hamilton-Burlington Region was $549,891 in May📊 This figure is up from the previous month of April by 4%📊&

Read more
May 2019 // Greater Toronto Area Real Estate Market Report
May 2019 // Greater Toronto Area Real Estate Market Report June 2019
May 2019 // Greater Toronto Area Real Estate Market Report June 2019

  The New Street May 2019 Greater Toronto Region Real Estate Report //   📊 The average price of a home in the Greater Toronto Region was $838,540 in May 2019📊 This figure is up by 2.2% from the previous month of April📊 Up 3.6% from May 2018📊 Down 3% from May 2017 (when the market was getting heated) 📊 10% jump from 3 years ago in 2016 ----- 📊 Sales volume was up from last month by 11% and up 19% from last year May📊 Down by 2% from May 2017 and 28% from May 2016  ----- 📊&

  The New Street May 2019 Greater Toronto Region Real Estate Report //   📊 The average price of a home in the Greater Toronto Region was $838,540 in May 2019📊 This figure is up by 2.2% from the previous month of April📊 

Read more
April 2019 // Oakville & Burlington Real Estate Market Report
April 2019 // Oakville & Burlington Real Estate Market Report May 2019
April 2019 // Oakville & Burlington Real Estate Market Report May 2019

    The New Street April 2019 Oakville Real Estate Report //   📊 The average price of a home in Oakville was $1,019,751 in April📊 This figure is consistent from last month, up by less than 1% 📊 Down 2.2% from April 2018📊 Condos took a bit of a dive in prices from last year, down 16% meanwhile semis were up 9%. Other home types remained fairly consistent.  ----- 📊 There was 343 sales in Oakville in April, up from last month by 21% as well as last

    The New Street April 2019 Oakville Real Estate Report //   📊 The average price of a home in Oakville was $1,019,751 in April📊 This figure is consistent from last month, up by less than 1% 📊 Down 2.2% from April&

Read more
April 2019 // Mississauga Real Estate Market Report
April 2019 // Mississauga Real Estate Market Report May 2019
April 2019 // Mississauga Real Estate Market Report May 2019

  The New Street April 2019 Mississauga Real Estate Report // 📊 The average price of a home in Mississauga was $767,283 in April📊 This figure is up by 4% from the previous month 📊 Up 6.4% from April 2018 last year📊 All home type prices were up, with condo towns and apartments seeing the largest jump in price at about 9-10%  ----- 📊 919 homes were sold in Mississauga in April, this was up from last month by 29% and up from last year by 16% showing a significant pickup

  The New Street April 2019 Mississauga Real Estate Report // 📊 The average price of a home in Mississauga was $767,283 in April📊 This figure is up by 4% from the previous month 📊 Up 6.4% from April 2018 last year📊 All

Read more
Etobicoke / Toronto West Real Estate Market Report // April 2019
Etobicoke / Toronto West Real Estate Market Report // April 2019 May 2019
Etobicoke / Toronto West Real Estate Market Report // April 2019 May 2019

  New Street April 2019 Etobicoke & Toronto West Real Estate Market Report  // 📊 The average price of a home in the Toronto West area was $827,417 📊 This figure was up 11% from the previous month 📊 Up 2% from last year in April 2018 ----- 📊 Sales volume was up by double-digit percentages again from last month by 27%📊 Up 19% from April 2018 ----- 📊 Toronto West had 1.9 months of supply in April 2019, lower than the GTA average of 2.6 months.📊 Homes are selling for over

  New Street April 2019 Etobicoke & Toronto West Real Estate Market Report  // 📊 The average price of a home in the Toronto West area was $827,417 📊 This figure was up 11% from the previous month 📊 Up 2% from last

Read more
Hamilton Area Real Estate Market Report // April 2019
Hamilton Area Real Estate Market Report // April 2019 May 2019
Hamilton Area Real Estate Market Report // April 2019 May 2019

  The New Street April 2019 Greater Hamilton Region Real Estate Report //   Average Prices // 📊 The average price of a home in the Hamilton-Burlington Region was $528,286 in April📊 This figure is consistent from the previous month of March, up only 2%📊 Up 3.3% from April 2018📊 Down 2.5% from April 2017 (when the market was getting heated) 📊 20% jump from 3 years ago in 2016.   Sales Stats // 📊 Sales volume was up from last month by 19% and 6% up from April 2018, totaling 769 total sales in April📊 This

  The New Street April 2019 Greater Hamilton Region Real Estate Report //   Average Prices // 📊 The average price of a home in the Hamilton-Burlington Region was $528,286 in April📊 This figure is consistent from the previous month of March, up

Read more
April 2019 // Greater Toronto Area Real Estate Market Report
April 2019 // Greater Toronto Area Real Estate Market Report May 2019
April 2019 // Greater Toronto Area Real Estate Market Report May 2019

  The New Street April 2019 Greater Toronto Region Real Estate Report //   📊 The average price of a home in the Greater Toronto Region was $820,148 in April 2019📊 This figure is up by 4% from the previous month of March📊 Up 1.9% from April 2018📊 Down 12% from April 2017 (when the market was getting heated) 📊 10% jump from 3 years ago in 2016. ----- 📊 Sales volume was up from last month by 26% and up 17% from last year April📊 Down by 27% from April 2017 and 33% from April 2016&

  The New Street April 2019 Greater Toronto Region Real Estate Report //   📊 The average price of a home in the Greater Toronto Region was $820,148 in April 2019📊 This figure is up by 4% from the previous month of March📊 

Read more
March 2019 // Mississauga Real Estate Market Report
March 2019 // Mississauga Real Estate Market Report April 2019
March 2019 // Mississauga Real Estate Market Report April 2019

    The New Street March 2019 Mississauga Real Estate Report //   📊 The average price of a home in Mississauga was $738,673 in March📊 This figure is up by 4% from the previous month 📊 Up 3% from March 2018📊 Condos saw the largest jump in price up 6%  ----- 📊 Sales volume was 713, up from last month by 36% and down from last year by about 7% 📊 Most home types were down in sales other than Semis which were up by 3% ----- 📊 There is currently 2.1 months of

    The New Street March 2019 Mississauga Real Estate Report //   📊 The average price of a home in Mississauga was $738,673 in March📊 This figure is up by 4% from the previous month 📊 Up 3% from March 2018📊 Condos saw

Read more
March 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt
March 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt April 2019
March 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt April 2019

  The New Street March 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt // Report   📊 The average price of a home in the Toronto Region was $788,335 in March 2019📊 The average price of a home in the Hamilton Region was $519,309 in March 2019📊 The average price of a home in the Niagara Region was $468,487 in March 2019 📊 YoY Niagara continues to see the highest increase, up 16.7% from last year due to its affordability📊 Toronto prices kept consistent with the previous year while Hamilton is up by 9%. 📊 All three markets

  The New Street March 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt // Report   📊 The average price of a home in the Toronto Region was $788,335 in March 2019📊 The average price of a home in the Hamilton Region was $519,309 in March 2019📊 

Read more
March 2019 // Niagara Region Real Estate Market Report
March 2019 // Niagara Region Real Estate Market Report April 2019
March 2019 // Niagara Region Real Estate Market Report April 2019

  The New Street March 2019 Niagara Real Estate Report // 📊 The average price of a home in the Niagara Region was $468,487📊 This figure is up by 3.2% from the previous month of February📊 Up 7% from last year in March 2018 ----- 📊 Sales volume was 672, up from last month by 64% 📊 Sales were consistent with March 2018  -----  

  The New Street March 2019 Niagara Real Estate Report // 📊 The average price of a home in the Niagara Region was $468,487📊 This figure is up by 3.2% from the previous month of February📊 Up 7% from last year in March 2018

Read more
Hamilton Area Real Estate Market Report // March 2019
Hamilton Area Real Estate Market Report // March 2019 April 2019
Hamilton Area Real Estate Market Report // March 2019 April 2019

  The New Street March 2019 Greater Hamilton Region Real Estate Report //   Average Prices // 📊 The average price of a home in the Hamilton-Burlington Region was $519,309 in March📊 This figure is consistent from the previous month of Februry 📊 Up 6% from March 2018📊 Up 0.6% from March 2017 (when the market was getting heated) 📊 22% jump from 3 years ago in 2016.   Sales Stats // 📊 Sales volume was up from last month by 37% but just shy off last year by 2%, totaling 649 total sales in March📊 

  The New Street March 2019 Greater Hamilton Region Real Estate Report //   Average Prices // 📊 The average price of a home in the Hamilton-Burlington Region was $519,309 in March📊 This figure is consistent from the previous month of Februry 📊&

Read more
Etobicoke / Toronto West Real Estate Market Report // March 2019
Etobicoke / Toronto West Real Estate Market Report // March 2019 April 2019
Etobicoke / Toronto West Real Estate Market Report // March 2019 April 2019

  New Street March 2019 Etobicoke & Toronto West Real Estate Market Report  // 📊 The average price of a home in the Toronto West area was $744,439 📊 This figure is pretty much on par, up by 0.2%, from the previous month 📊 Down 2.2% from March 2018 ----- 📊 Sales volume was WAY up from last month by almost 40%📊 Down by 4.8% from March 2018 ----- 📊 Toronto West had 1.9 months of supply in March 2019, significantly lower than the GTA average of 2.7 months.📊 Homes are selling for over

  New Street March 2019 Etobicoke & Toronto West Real Estate Market Report  // 📊 The average price of a home in the Toronto West area was $744,439 📊 This figure is pretty much on par, up by 0.2%, from the previous

Read more
March 2019 // Greater Toronto Area Real Estate Market Report
March 2019 // Greater Toronto Area Real Estate Market Report April 2019
March 2019 // Greater Toronto Area Real Estate Market Report April 2019

  The New Street March 2019 Greater Toronto Region Real Estate Report //   📊 The average price of a home in the Greater Toronto Region was $788,335 in March 2019📊 This figure is up by 1% from the previous month of February📊 Up 2.7% from March 2018📊 Down 16.3% from March 2017 (when the market was getting heated) 📊 12.7% jump from 3 years ago in 2016. ----- 📊 Sales volume was up from last month by 43% and consistent with last year March📊 Down by 68% from March 2017 and 42% from March 2016 

  The New Street March 2019 Greater Toronto Region Real Estate Report //   📊 The average price of a home in the Greater Toronto Region was $788,335 in March 2019📊 This figure is up by 1% from the previous month of February📊 

Read more
Ottawa Gives $50M for CRA to crack down on property-related tax avoidance
Ottawa Gives $50M For CRA To Crack Down On Property-related Tax Avoidance April 2019
Ottawa Gives $50M For CRA To Crack Down On Property-related Tax Avoidance April 2019

Ottawa will be giving the CRA an additional $50M over five years to root out property-related tax avoidance, including; Reporting the sale of a primary residence Ensuring proper taxes are paid on the sale of a second property Reporting gains from real estate "flipping" Reporting commissions on home sales as taxable income Builders charging and remitting GST or HST on new home sales.

Ottawa will be giving the CRA an additional $50M over five years to root out property-related tax avoidance, including; Reporting the sale of a primary residence Ensuring proper taxes are paid on the sale of a second property Reporting gains

Read more
First Time Homebuyers Can Withdraw More from their RRSPs
First Time Homebuyers Can Withdraw More From Their RRSPs March 2019
First Time Homebuyers Can Withdraw More From Their RRSPs March 2019

More good news from the 2019 Federal Budget. First-time buyers will soon be able to withdraw from their RRSP for their home — $35,000 per individual or $70,000 per couple — The previous $25,000 limit hasn’t been adjusted for 10 years, despite consistent growth in the housing market.

More good news from the 2019 Federal Budget. First-time buyers will soon be able to withdraw from their RRSP for their home — $35,000 per individual or $70,000 per couple — The previous $25,000 limit hasn’t been adjusted for 10 years, despite consistent

Read more
2019 Federal Budget Presents an Interest-Free Shared Equity Mortgage for New Home Buyers
2019 Federal Budget Presents An Interest-Free Shared Equity Mortgage For New Home Buyers March 2019
2019 Federal Budget Presents An Interest-Free Shared Equity Mortgage For New Home Buyers March 2019

Some good news for new homebuyers across Canada. The 2019 Federal Budget is setting aside funds to potentially aid in covering 10% of the purchase price for new buyers. Called a "shared equity mortgage". Functioning as an interest-free loan which will need to be paid off down the road, an applicant must have a household income of less than $120,000 per year and be able to come up with a five percent down payment. Find out more: https://bit.ly/2WSFKlO #NewHomebuyers #RealEstate #Toronto #NewHomes #NewCondos #GTA

Some good news for new homebuyers across Canada. The 2019 Federal Budget is setting aside funds to potentially aid in covering 10% of the purchase price for new buyers. Called a "shared equity mortgage". Functioning as an interest-free loan which will need

Read more
Is Money Laundering driving prices in the Toronto Real Estate Market?
Is Money Laundering Driving Prices In The Toronto Real Estate Market? March 2019
Is Money Laundering Driving Prices In The Toronto Real Estate Market? March 2019

Is money-laundering making it harder to buy a home? A shocking report by Transparency International Canada finds $28.4 billion of residential purchasers since 2008 were done through corporate entities, which may be shielding illegal or less-than-above-board buyers, raising prices for the rest of us. Find out more: https://bit.ly/2UGb4GS #RealEstate #Toronto #GTA

Is money-laundering making it harder to buy a home? A shocking report by Transparency International Canada finds $28.4 billion of residential purchasers since 2008 were done through corporate entities, which may be shielding illegal or less-than-above-board buyers, raising prices for the rest

Read more
March 2019 // Oakville & Burlington Real Estate Market Report
March 2019 // Oakville & Burlington Real Estate Market Report April 2019
March 2019 // Oakville & Burlington Real Estate Market Report April 2019

    The New Street March 2019 Oakville Real Estate Report //   📊 The average price of a home in Oakville was $1,011,664 in March📊 This figure is up by 2.6% from the previous month of February 📊 Down 1.7% from March 2018📊 All home types saw an increase in price of around 5%, with Condo Towns and Semis leading the way, up 16% and 7.5% respectively ----- 📊 There was 284 sales in Oakville in March, up from last month by 80% and on par with last year,

    The New Street March 2019 Oakville Real Estate Report //   📊 The average price of a home in Oakville was $1,011,664 in March📊 This figure is up by 2.6% from the previous month of February 📊 Down 1.7% from March 2018📊

Read more
February 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt
February 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt March 2019
February 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt March 2019

  The New Street February 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt // Report   📊 The average price of a home in the Toronto Region was $780,397 in February 2019📊 The average price of a home in the Hamilton Region was $517,439 in February 2019📊 The average price of a home in the Niagara Region was $454,107 in February 2019 📊 YoY The Niagara has seen the highest increase, up 15.6% from last year due to its affordability📊 Toronto & Hamilton show steady increases on both a monthly and annual basis 📊 The average price

  The New Street February 2019 // 36 Stats // 12 Months // 3 Regions // 1 Greenbelt // Report   📊 The average price of a home in the Toronto Region was $780,397 in February 2019📊 The average price of a home in the Hamilton Region was $517,439 in February 2019📊 

Read more

Chat with a live Rep

By requesting a chat I consent to receive communications by New Street

×

We are connecting you with a Live New Street Representative...