Joanne DeBartolo

TORONTO REAL ESTATE BOARD RECORD DECEMBER HOME RESALES AND NEW RECORD IN 2020 AVERAGE SELLING PRICE 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 ma...rket 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 types. 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 prices. 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. The next 12 months will be critical as we chart our path through recovery. In particular, the impact of resumption in immigration and the re-opening of the economy will be key. TRREB will once again be releasing its January results, Market Year in Review and 2021 Outlook report on February 8th. This will include a forecast for home sales and selling prices, the latest Ipsos consumer polling on the GTA housing market and new research related to innovative ways to bring on more housing supply, said John DiMichele, TRREB CEO See more

GTA REALTORS Release November Stats The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS through the Toronto Regional Real Estate Board’s (TRREB) MLS System. This result was up by 24.3 per cent compared to November of last year. Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates ...remained robust in the ‘416’ area code as well. Home buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA, which has continued to support double-digit annual rates of price growth, said Lisa Patel, TRREB President. The MLS HPI Composite Benchmark was up by 10.6 per cent in November 2020 compared to November 2019. The average selling price for all home types combined was up by 13.3 per cent to $955,615. Market conditions tightened in many single-family market segments in November, resulting in double-digit year-over-year increases in average selling prices for detached houses, semi-detached houses and townhouses. In contrast to the single-family market segments, buyers continued to benefit from much more choice in the condominium apartment market compared to last year, particularly in the City of Toronto. The number of new condominium apartment listings in November was almost double that reported in November of last year. More options in the condo apartment market translated into a small year-over-year decline in the average condominium apartment selling price in the ‘416’ area code. The condominium apartment market is certainly more balanced than in previous years, with some buyers benefitting from lower selling prices compared to last year. However, this may be somewhat of a short-term phenomenon. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets, said Jason Mercer, TRREB Chief Market Analyst.

GTA REALTORS Release October Stats Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row. Our Members made 10,563 sales as reported through the Toronto Regional Real Estate Board’s MLS System in October 2020. This was up by 25.1 per cent compared to 8,445 transactions in October 2019. Sales and new listings reached record levels for the month of October. However, year-over-year growth rates for sales and new listings diverge...d in some market segments. In the detached market segment, the pace of annual sales growth far outstripped growth in new listings. Conversely, the condominium apartment market segment experienced more than double the new listings compared to October 2019, whereas sales were only up by 2.2 per cent over the same period. Competition between buyers of single-family homes, and particularly detached houses, remained strong last month and continued to support double-digit annual rates of price growth in many GTA neighbourhoods. In contrast, condo buyers have benefitted from much more choice compared to last year. Pre-COVID polling had already pointed to an increase in investor selling in 2020. The pandemic only added to this trend with a stall in economic growth and a halt to tourism impacting cashflows for many investors, said Lisa Patel, TRREB’s President. The MLS HPI Composite Benchmark was up by 10.8 per cent on a year-over-year basis in October 2020. The average selling price for all home types combined was $968,318 up by 13.7 per cent compared to $851,877 in October 2019. Year-to-date home sales through October were above last year’s level. The economic recovery in some sectors coupled with low borrowing costs has kept home purchases top-of-mind for many GTA residents. With this being said, we have not accounted for all of the pent-up demand that resulted from the spring downturn. Expect record or near-record home sales for the remainder of 2020, said Jason Mercer, TRREB’s Chief Market Analyst.

GTA REALTORS Release September Stats Toronto Regional Real Estate Board President Lisa Patel announced that sales reported through TRREB’s MLS System by Greater Toronto Area REALTORS amounted to 11,083 a new record for the month of September. This result was up by 42.3 per cent compared to September 2019. Following a record third quarter, sales through the first nine months of 2020 were up by approximately one per cent compared to the same period in 2019. Improving econ...omic conditions and extremely low borrowing costs sustained record-level sales in September, as we continued to account for the substantial amount of pent-up demand that resulted from the spring downturn. Further improvements in the economy, including job growth, would support strong home sales moving forward. However, it will be important to monitor the trajectory of COVID-19 cases, the related government policy response, and the impact on jobs and consumer confidence, said Ms. Patel. Year-over-year sales growth in September continued to be driven by ground-oriented market segments, including detached and semi-detached houses and townhouses. Annual growth rates were also higher for sales reported in the GTA regions surrounding the City of Toronto. The September 2020 MLS Home Price Index Composite Benchmark was up by 11.6 per cent year-over-year. The average selling price for all home types combined in September was $960,772 up by 14 per cent year-over-year. Price growth was driven by the low-rise market segments. The relatively better supplied condominium apartment segment experienced a comparatively slower pace of price growth. On a GTA-wide basis, market conditions tightened in September relative to last year, with sales increasing at a faster pace than new listings. With competition between buyers increasing noticeably, double-digit year-over-year price growth was commonplace throughout the region in September, resulting in the overall average selling price reaching a new record, said Jason Mercer, TRREB’s Chief Market Analyst.

GTA REALTORS RELEASE APRIL 2020 STATS TORONTO, ONTARIO, May 5, 2020 Toronto Regional Real Estate Board President Michael Collins released the following key housing market statistics for April 2020: Home Sales and Listings Greater Toronto Area REALTORS reported 2,975 residential transactions through TRREB’s MLS System. This result was down by 67 per cent compared to April 2019. Weekday sales remained within a relatively steady range during the month, averaging 130 per d...ay. New listings amounted to 6,174 in April 2020 down on a year-over-year basis by a similar rate compared to sales (-64.1 per cent). Home Prices The average selling price for April 2020 transactions was $821,392 up by 0.1 per cent compared to the average price of $820,373 reported for April 2019. The semi-detached and townhouse market segments experienced annual average price growth above the rate of inflation. The condominium apartment and detached segments experienced year-over-year price declines on average. The trend for the MLS Home Price Index Composite Benchmark, which had been on an upward trajectory since the beginning of 2019 flattened in April. On a year-over-year basis, the Benchmark was up by 10 per cent. The MLS HPI indices represent prices for typical homes with consistent attributes from one period to the next. The fact that the MLS HPI was up year-over-year by a greater rate than the average selling price suggests that the share of higher end deals completed in April 2020 versus April 2019 was down. See more