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2015 Housing Market Charts

This post will be updated through the course of the year as it tracks real estate sales activity during 2015.  TREB stands for Toronto Real Estate Board.  The Toronto Real Estate Board represent the City of Toronto; the Regions of Halton, Peel, York, and Durham; plus South Simcoe County, and Orangeville.

TREB Affordability Indicator

The chart below shows how much of  the average household income is used for carrying costs of an averaged price home.  

The TREB Affordability Indicator is a key indicator to watch when trying to determine the direction and health of the real estate market. The lower the value the stronger the economy and real estate market, that is, the less of your income being consumed to service the costs of a home the more money a household will have for other things.

 

TREB Affordability Indicator, how much of an average households income is spent on cost of home ownership

 

The above chart is one of my favourite tools to assess the real estate market in general as it takes into account the key areas of home ownership obligations.  Household income, home purchase price and the total amount of mortgaged borrow, utility costs, property taxes, and interest rates are all key parts to the above chart.  In its final form, this is a simple indicator but there are many parts that affect the end result.  

 

Scenarios: An increase in prices, interest rates, and mortgage borrowed can increase the portion of income being used to service home ownership. An increase in household income can lower the % of household income being used to service the cost of home ownership.  A fall in income and an increase in interest rates at the same time will increase the amount of a households income being spent on the cost of home ownership.   

 


 

TREB 2015 2nd Quarter Market Report 

 

Through the first two-quarters, the trend remains in place with demand exceeding supply creating a sellers market so far in 2015 as compared to the same period in 2014. Many home owners may be choosing to renovate their current home instead of selling and buying another keeping inventory low.

We are still on track to set record levels for sales volume and average price.

 

 

TREB 2015 1st Quarter Market Report

 

With the first quarter of 2015 complete, here is a video reviewing of key trends that emerged over the last 3 months and look ahead to what may happen going forward. Long term view is to expect interest rates to remain low and stable. With affordability in check and the Ontario economy expected to outperform expectations, we're forecasting sales by TREB Realtor to grow by the end of 2015.  The new forecast is 97,000 sales through the MLS System.  This should take average prices up, too.  Both will be record levels.

 

Sales activity by TREB members through the MLS System for Q1 2015 broken down by property type.

 TREB Sales Activity Q1 2015. Sales activity by property type

*SNLR= sales to new listing ratio.  MOI= Months of Inventory (how long it will take to sell standing inventory). Average DOM=Average Days on Market for sold homes. Average SP/LP=Average sales price to list price ratio.


 

The Toronto Real Estate Board represents areas beyond the City of Toronto.  

 

Toronto Real Estate Board Primary Market Areas and boundaries.TREB's primary markets include:

  • The City of Toronto,

  • Halton Region: (Burlington, Oakville, Milton, Halton Hills),

  • Peel Region: (Mississauga, Brampton, Caledon),

  • York Region: (Vaughn, Markham, Richmond Hill, Aurora, Newmarket, King City, Whitchurch Stoufville), and

  • Durham (Pickering, Ajax, Whitby, Oshawa, Uxbridge, Scugog); plus

  • South Simcoe County, and Orangeville.

 

 

 

 

 

 

 

Through out this website when we reference TREB statistics the above-listed areas and shown below in the map is the market areas we are referring to.  

 

 

 

Posted in Real Estate Statistics,Real Estate Market Update,Market Watch Posted by Nazaar on October 27th, 2015 — Permalink