2019 Pricing Predictions for Toronto Real Estate

24 January 2019

It's January, the time for annual real estate forecasts, and that means us as well.

Some forecasters talk about the Canadian market as a whole. Most talk about the major cities as individual markets, but those in the industry know that real estate is very local. Properties don’t' get up and move just to satisfy a buyer. Properties don't change their shape to satisfy buyer demand for a particular size. Looking at the GTA we broke down our forecast of price by changes in geography, property type, and price range. So, here's our look at what you can expect for prices in 2019 in the GTA, starting from the strongest to weakest markets.

The Strongest: Downtown Low-Rise (Under 1 Million)

The biggest increases will be in the low-rise market in the 416 area, under one million. Look for a 10% price growth. The market is row and semi-detached housing. Forget about detached at that price point.

The Middle: Condos under 1 Million

Next, we expect condos in the 416 area, under one million, to increase by 5%. Similarly we expect condos in the 905 to increase by the same 5%. For buyer, the preference right now is 416, but the attraction for 905 is that will be the cheapest entry point for first-time buyers.

In the one to two million dollar market, look for prices to increase by 5% in 416 and by only 3% in the 905.

The Weakest: Properties over 2 Million

Finally, properties over 2 million will be the weakest market in 2019. Just 3% increase in the 416 and prices will be flat at best to lower in the 905.

So, there you have it. The GTA is over 25% of the total Canadian real estate market. You need to look at all the sub-markets within.