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Compare Toronto & Vancouver Housing

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Posted by Brian Ripley's Canadian Real Estate Charts

on Wednesday, 16 August 2017 06:42

Single Family Detached, Town House and Condo Prices and Total Residential Listings and Sales and the Absorption Rates as well as INSIDE AIRBNB below

chart-compare-vancouver-toronto 8 orig
The chart above shows the HPI® prices for Vancouver and average prices for Toronto (solid plot lines) as well as the Monthly Absorption Rate ​(MAR = Sales/Listings as dotted plot lines). 
​​
​At the old Vancouver price peak in April 2012 before Torontonians joined the party, Vancouver metro SFDs were 64% more expensive than Toronto comparables. In July 2016 at the peak of Vancouver SFD prices, they were 65% more expensive. The gap was closing quickly; it narrowed down to 33% two months but with the sudden late summer zeal to buy in Vancouver and sell in Toronto, the gap has expanded again to 61%. Strata prices are also more expensive in Vancouver; 25% more for town-houses and 23% more for condos.

In March 2017 the Monthly Absorption Rate based on total inventory and total residential sales hit 154% in Toronto vs Vancouver at 47%. Vancouver may have led the FOMO crowd up the ladder, but Toronto maybe sending them down the snake.


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