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A Steady Summer

August 15, 2018

August 2018 – A Steady Summer - The New Street Resale Real Estate Report for The Greater Toronto and Hamilton Region

Although we’re seeing drops in average price for both the Toronto Area (TREB) and Hamilton Area (RAHB), as we dig deeper into each individual market, we’re seeing evidence of a strong and steady market. We also have a collection of new stats this month aimed to give you further insight into what’s going on in both the Toronto Area (TREB) and Hamilton Area (RAHB), particularly month of supply currently on the market and sales to list price percentage, which gives insight into the listed vs. sale prices of different homes and condos in the various markets we cover.

 

GTA & Hamilton Home Prices - TREB (Toronto Area) & RABH (Hamilton Area) MLS Systems - Last 12 Months

 

For the Toronto Area (TREB) market, we’re seeing positive numbers from last year almost across the board, and relatively steady numbers from last month. Homes sold are down marginally from last month (1.8%) and up from last year (8.5%) to 6,839. Average price for the Toronto Area (TREB) is down from last month; 2.2% to $765,270. New listings for the  Toronto Area (TREB) are also down from last month 12.3% to 12,166. Months of supply is steady at 2.6, up a staggering 85.7% from last year and average sales price to listing price is at a desirable 98%. Finally, days on the market is up 8.0% from last month to 27 days for the Toronto Area (TREB).

 

Hamilton Area (RAHB) market tells a bit of a different story; homes sold are up marginally both from last month (1.6%) and last year (0.6%). Average price for the Hamilton Area (RAHB) is down from last month; 1.7% to $540,891. New listings for the Hamilton Area (RAHB) are also down from last month 7.7% to 1,603. Months of supply is down 7.1% to 2.6 for the Hamilton Area (RAHB), but average sales price to listing price is at a desirable 98%. Finally, days on the market is up 19.4% from last month to 37 days for the Hamilton Area (RAHB).

 

 

GTA & Hamilton Homes Sales Stats – August 2018

 

 

Evaluating the August sales by home type in the Toronto Area (TREB) shows us the following insights:

 

  • Overall we’re seeing marginal changes in average prices and number of sales.
  • The average price is down marginally from last month for detached (2.7%), semi-detached (0.7%), townhomes (1.5%) and condominiums (1.1%).
  • At the same time, average price is up across the board from this time last year for detached (1.2%), semi-detached (3.6%), townhomes (3.2%) and condominiums (6.4%).
  • Condominium sales in the 905 are up 18.6% from last year to 612.
  • Condominium average prices in the 416 we’re the only housing type to see a increase from last month (0.5%), however the changes were all marginal, under 8% decrease for detached, semi-detached and townhomes.
  • Months of supply for both the 416 individually and 416 and 905 combined averages are between 1.4-2.8 months; with the exception of 416 and 905 detached averages, which have a 3.5 month supply.
  • Average sales price to listing price is between 97-100% for both 416 and 905.

 

 

GTA Sales & Average Price by Home Type - August 2018

The Realtors Association of Hamilton Area (RAHB) saw a strong condo market this month, up in sales from last month by 19.8% and last year by 29%. Average price was also up marginally for the Hamilton Area (RAHB) from last month 0.1% as well as up 7% from last year to $440,997.

The freehold home side of the Hamilton Area (RAHB) was a slightly different story. Although the figures were marginal, the area saw a decrease in sales of 2% from last month (staying the same from this time last year) and a decrease in average price of 1.2% from last month and 3.8% from last year to $565,039.

 

Hamilton & Burlington Sales & Average Price by Home Type - August 2018

 

As we look at the map below, we can begin to examine how the market is performing on a more local level in the Hamilton and Southwestern Ontario area:

 

Hamilton & Southwestern Ontario Prices & Sales by Community (RAHB's MLS System) - August 2018

 

 

 

Hamilton West

  • Hamilton West saw an increase in number of sales from last month; up 22% to 61.
  • Hamilton West also saw an increase in number of sales from last year; up 29.8%.
  • Waterdown’s selling to Listing price is at a desirable 98%
  • average price was down marginally from last month; 3.4% to $465,851.
  • Months of supply for Hamilton West is up 41.3% from last month to 2.3.
  • Hamilton West’s selling to Listing price is at 101%.

 

Hamilton Centre

  • Hamilton Centre saw an increase in number of sales from last month; up 7.2% to 89.
  • Hamilton Centre’s average price was down marginally from last month; 6.6% to $361,754.
  • Months of supply for Hamilton Centre  is on the lower end, down 28.5% from last year to 1.7 months

 

Hamilton East

  • Hamilton East saw a decrease in number of sales from last month; down 5.3% to 72.
  • Hamilton East’s average price was down as well from last month; 5.1% to $369,232.
  • Months of supply for Hamilton East is down 24.2% from last year to 1.9 months.
  • Hamilton East’s selling to Listing price is at 99%.

 

Hamilton Mountain

  • Hamilton Mountain saw a decrease in number of sales from last month; down 7.7% to 143.
  • Hamilton Mountain’s average price was down marginally from last month; 1.8% to $466,827.
  • Months of supply for Hamilton Mountain is down 28.6% from last year to 2.2 months.
  • Hamilton Mountain’s selling to Listing price is at 99%.

 

Flamborough

  • Flamborough saw an increase in number of sales from last month; up 20% to 18.
  • Flamborough’s average price was down significantly from last month; 20.5% to $626,317.
  • Months of supply for Flamborough is on the lower end, down 8.5% from last year to 4.2 months.

 

Waterdown

  • Waterdown experienced an increase in sales numbers from last month of 8% to 27.
  • With months of supply up 43% from last month, Waterdown now has 2.8 month supply, which is on the lower side for the area, despite the significant increase.
  • Average price in Waterdown remains relatively steady, down 4.3% from last month to $670,900.
  • Waterdown’s selling to Listing price is at a desirable 98%.

 

Dundas

  • Dundas experienced a decrease in sales numbers from last month of 3.7% to 26.
  • Dundas’ sales number are up from last year by a staggering 52.9%.
  • Months of supply in Dundas is down 38% to 2.1 months.
  • Average price in Dundas is down slightly from last month, 6% to $559,150.
  • Dundas’ selling to Listing price is at a desirable 98%.

 

Ancaster

  • Ancaster experienced a decrease in sales numbers from last month of 8.5% to 43.
  • Months of supply in Ancaster is up a staggering 73.4% to 5.5 months, the highest of any market in both the Toronto Area and Hamilton Area.
  • Average price in Ancaster is up from last month, 9.8% to $768,298.
  • Ancaster’s selling to Listing price is at 97%.

 

Grimsby

  • Grimsby experienced a decrease in sales numbers from last month of 2.2% to 44.
  • Months of supply in Grimsby is down slightly from last month to 2.6 months.
  • Average price in Grimsby is up from last month, 5% to $547,825.
  • Grimsby’s selling to Listing price is at 98%.

 

Stoney Creek

  • Stoney Creek sales numbers stayed the same from last month; up 37.5% from last year to 11.
  • Months of supply in Stoney Creek is up an astounding 53.5% from last month to 3.5 months.
  • Average price in Stoney Creek is down marginally from last month, 0.4% to $456,164.
  • Stoney Creek’s selling to Listing price is at 99%.

 

Caledonia

  • Caledonia sales numbers stayed the same from last month; up 37.5% from last year to 11.
  • Months of supply in Caledonia is up an astounding 53.5% from last month to 3.5 months.
  • Average price in Caledonia is down marginally from last month, 0.4% to $456,164.
  • Caledonia’s selling to Listing price is at 99%.

 

Glanbrook

  • Glanbrook sales numbers were down from last month by 5% to 38.
  • Months of supply in Glanbrook is up 41.4% from last month to 2.7 months.
  • Average price in Glanbrook is up from last month, 2.9% to $593,771.
  • Glanbrook’s selling to Listing price is at 98%.

 

Dunville

  • Dunville has a great month, seeing positive numbers across the board.
  • Dunville sales numbers were up from last month by 16.7% to 38.
  • Dunville sales numbers were up from last year by 5% to 38.
  • Months of supply in Dunville is up 85.8% from last month to 3.8 months.
  • Average price in Glanbrook is up from last month, 18.1% to $427,800.
  • Average price in Glanbrook is up from last year by 12.9%.
  • Glanbrook’s selling to Listing price is at 97%.

 

 

When looking more closely at city and sub-region data in Toronto and the surrounding GTA, the following insights arise:

 

GTA Prices & Sales by Area (TREB's MLS System) - August 2018

 

 

Toronto

  • Toronto West, Central and East all saw drops from last month in average price and number of sales; however the drop was marginal, under 7%.
  • Toronto West saw increases average prices from last year in detached, towns, condo towns and condos of 9.5-12.9%
  • Toronto Central towns saw an increase in average price from last year of a staggering 38% to $1,479,000.
  • Toronto East sales numbers are up from this time last year by 10.2% to 629.
  • Toronto West, Central and East’s month of supply is at 1.9 months.
  • Toronto West average sales to listing price is at 99%.
  • Toronto Central average sales to listing price is at 98%.
  • Toronto East average sales to listing price is at 100%, one of the highest in the region.

 

Oakville

  • Oakville sales numbers were down from last month by 9.4% to 259.
  • Months of supply in Oakville is at 3.5 months.
  • Average price in Oakville is up from last month, 1.2% to $1,030,482; the highest of any municipality in the Toronto Area (TREB).
  • Oakville’s selling to listing price is at 97%.

 

Mississauga

  • Mississauga sales are down 12.5% from last month on average
  • Sales of semis and condo towns are down 3% and 4.2% from last year; all other housing types are up from last year
  • Average price is down 2.7% to $706,570 (up 1% from last year)
  • Detached and towns were the only type to not see an increase from last year, down 6% and 2% respectively

 

Milton

  • Milton sales numbers were down from last month by 6.5% to 172.
  • Months of supply in Milton is at 2.2 months.
  • Average price in Milton is up from last month, 3% to $732,836.
  • Milton’s selling to Listing price is at 97%.

 

Brampton

  • Brampton sales numbers were up marginally from last month; 0.4% to 671.
  • Months of supply in Brampton is at 2.3 months.
  • Average price in Brampton is up marginally from last month, 0.4% to $709,818.
  • Brampton’s selling to Listing price is at 98%.

 

York

  • Richmond Hill saw an increase in number of sales from last month by a whopping 23.3%.
  • Markham saw an increase in number of sales from last month by 1.4%.
  • Condominiums were the only type of housing to see an increase in average price across York; most notably 15.5% in Richmond Hill.
  • Months of supply for Vaughan is at 4.3 months.
  • Months of supply for Richmond Hill is at 5.2 months.
  • Months of supply for Markham is at 3.8 months.
  • Vaughan, Richmond Hill and Markham’s average sales to listing price is at 97%.

 

Burlington

  • Burlington sales numbers were up from last month by 10.1% to 208.
  • Months of supply in Burlington is at 2.5 months.
  • Average price in Burlington is down marginally from last month, 3.1% to $767,302.
  • Burlington’s selling to Listing price is at 97%.

 

Halton Hills

  • Halton Hills sales numbers were up from last month by a staggering 14.3% to 88.
  • Months of supply in Halton Hills is at 2 months.
  • Average price in Halton Hills is up from last month, 1.2% to $756,529.
  • Halton Hills’ selling to Listing price is at 97%.

 

Newmarket

  • Newmarket sales numbers were down from last month by 19.8% to 93.
  • Months of supply in Newmarket is at 4.5 months; one of the highest for the Toronto Area (TREB).
  • Average price in Newmarket is down from last month, 2.6% to $755,268.
  • Newmarket’s selling to Listing price is at 97%.

 

Aurora

  • Aurora sales numbers were up from last month by 6.5% to 82.
  • Months of supply in Aurora is at 4.5 months; one of the highest for the Toronto Area (TREB).
  • Average price in Aurora is up from last month by 10.9% to $938,456.
  • Aurora’s selling to Listing price is at 96%.

 

As mentioned, this report featured a collection of new stats aimed to give you further insight into what’s going on in both the Toronto Area (TREB) and Hamilton Area (RAHB), particularly month of supply currently on the market and sales to list price percentage, which gives insight into the listed vs. sale prices of different homes and condos in the various markets we cover.

 

 

Below we examine the most notable of these stats and others in a number of top and bottom lists:

 

  • Highest sales to list price: Hamilton West at 101%

 

  • Lowest sales to list price: Aurora and Flamborough at 96%

 

  • Lowest months of supply

    1. Hamilton Centre with 1.7 months of supply
    2. Hamilton East with 1.9 months of supply
    3. Toronto West with 1.9 months of supply
    4. Toronto East with 1.9 months of supply
    5. Toronto Central with 1.9 months of supply

 

  • Highest months of supply

    1. Ancaster with 5.5 months of supply
    2. Aurora with 4.8 months of supply
    3. Newmarket with 4.5 months of supply
    4. Vaughan with 4.3 months of supply
    5. Flamborough with 4.2 months of supply

 

  • Top jumps in price (from last month)

    1. Dunnville up 18.1% from last month
    2. Aurora up 10.9% from last month
    3. Ancaster up 9.8% from last month
    4. Grimsby up 5% from last month
    5. Stoney Creek up 4.2% from last month

 

  • Top jumps in sales (from last month)

    1. Richmond Hill up 23.3% from last month
    2. Hamilton West up 22% from last month
    3. Flamborough up 20% from last month
    4. Dunville up 16.7% from last month
    5. Halton Hills from 14.3% from last month

 

  • Top jumps in price (from last year)

    1. Hamilton Centre up 14.7% from last year
    2. Dunnville up 12.9% from last year
    3. Markham up 11.7% from last year
    4. Toronto Central up 11.3% from last year
    5. Toronto West up 11.2% from last year

 

  • Top jumps in sales (from last year)

    1. Aurora up 60.8% from last year
    2. Dundas up 52.9% from last year
    3. Halton Hills up 39.7% from last year
    4. Caledonia up 37.5% from last year
    5. Burlington up 34.2% from last year

 

  • Most expensive market

    1. Oakville with an average price of $1,030,482
    2. Richmond Hill with an average price of $999,311
    3. Vaughan with an average price of $997,587
    4. Aurora with an average price of $938,456
    5. Toronto Central with an average price of $888,683

 

  • Most affordable market

    1. Hamilton Centre with an average price of $361,754
    2. Hamilton East with an average price of $369,232
    3. Dunville with an average price of $427,800
    4. Caledonia with an average price of $456,164
    5. Hamilton West with an average price of $465,851

 


We’ll continue to keep you updated month-to-month, particularly as monthly trends seem to be changing and shifting the market significantly.

 

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

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

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The Greater Toronto and Hamilton Region New Homes Real Estate Report - May 2017 We saw some interesting "affordabalization" happening in the resale market in May. With all this talk of a real estate "cool down" happening, how has the new home market been impacted? Well if you take a look at this recent video of a new home community in Richmond Hill from Fieldgate Homes, it indicates a fairly contradictory signal then what we've seen in our recent resale market report titled "

The Greater Toronto and Hamilton Region New Homes Real Estate Report - May 2017 We saw some interesting "affordabalization" happening in the resale market in May. With all this talk of a real estate "cool down" happening, how has 

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The Real Estate Market is Affordabalizing
The Real Estate Market Is Affordabalizing June 2017
The Real Estate Market Is Affordabalizing June 2017

The Greater Toronto and Hamilton Region Resale Real Estate Report - May 2017 The Real Estate Market is Affordabalizing. I know that’s not a word but that’s what we’re calling it. With all the talk about the real estate market recently, there is no doubt that things have and are changing ever since the Ontario Government put forth its Fair Housing Plan. Now that we’ve been able to collect a full month of data, since the plan was

The Greater Toronto and Hamilton Region Resale Real Estate Report - May 2017 The Real Estate Market is Affordabalizing. I know that’s not a word but that’s what we’re calling it. With all the talk

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New Street - Simple Story Housing Market
The Simple Story Behind The Ontario Real Estate Market Crisis May 2018
The Simple Story Behind The Ontario Real Estate Market Crisis May 2018

How the Ontario Real Estate Market Crisis Escalated and What's Next? Like you, I've been paying attention to the current state of Ontario's Real Estate Market (specifically GTA and the Golden Horseshoe). I’ve been watching the impact on buyers and sellers in the market and seeing the housing crisis escalate for years now. I was interested in an Ontario Fair Housing Plan when it was announced, as I was convinced that an intervention can provide solutions. But after looking at all 16 initiatives within

How the Ontario Real Estate Market Crisis Escalated and What's Next? Like you, I've been paying attention to the current state of Ontario's Real Estate Market (specifically GTA and the Golden Horseshoe). I’ve been watching the impact on

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