Realosophy believes in providing consumers with the information and data they need to make better real estate decisions.
We obsess about getting our information and data right, but limitations apply and mistakes can be made. Email us if you have a question or concern.
All information and data on the websites realosophy.com and movesmartly.com and other publications or otherwise obtained from Realosophy, its representatives, sales representatives (agents) and brokers, employees, contractors or associates, is intended to offer general information and is not intended to provide a professional opinion notwithstanding applicable contractual obligations in effect. The information and data may not be exhaustive, complete, accurate or up-to-date and should be confirmed by appropriate authorities and licensed professionals before you make use of any such information and data. Please review our Terms of Use for further information.
Unless otherwise indicated, real estate data source is Toronto Real Estate Board, demographic data source is Statistics Canada provided by Environics Analytics (© Environics Analytics Group), municipal data contains information licensed under the Open Government Licence–Toronto, school data source is the Ontario Ministry of Education and Education Quality and Accountability Office, business data source is Yelp and mapping data source is Google. Other sources of data may also be used. MLS® and REALTOR® trademarks are owned and controlled by CREA.
Market data is based on real estate data provided by the Toronto Real Estate Board, which has been analyzed by Realosophy Realty Inc.
The median price is the middle price point of all home sales, where half the homes sold above and half below it. The median price on our website is based on all sales over the past 12 months ending with the month we are currently reporting on.
At area, regional, municipal/former municipal (within the City of Toronto) market levels, the Average Sale Price and the % Change in Avg Sale Price is calculated using transactions for the month being reported. At the neighbourhood market level, where the number of transactions is lower per month, the same metrics above are calculated using a twelve month average ending the month that we are reporting on. The % Change in Avg Sale Price shows the year over year change in the average sale price.
Number of Sales shows the number of properties that sold in the given month that is being reported on.
Days on Market shows the average days a home was on the market for sale before it sold. This instance of the metric only shows the days on market for the last listing for the property. Any previous listings for the same property are not included in this calculation.
Number of New Listings shows the number of properties that were listed for sale in the given month that is being reported on.
Active Listings shows the number of properties listed for sale on the final day of the given month being reported on.
Months of Inventory (MOI) is a metric that gives us some insight into how well supplied the housing market is given the current demand. If no other homes came on the market for sale next month, how long would it take the current inventory to sell?
MOI is the ratio of Active listings in a given month to the Number of Sales in that same month. For example, if a neighbourhood had 100 active listings at the end of the month and 25 properties sold in the same month, the area would have 4 months of inventory (100/25).
Our market scores are based on inventory level, which is the estimated number of months it would take to sell all properties currently listed for sale on the market. A hot market which is competitive and favours sellers has a low MOI (under 3 months), a balanced market has a medium level MOI (3 to 6 months) and a cool market which is typically slower and favours buyers has a high MOI (over 6 months).
Percentage of Investors represents the share of homes bought by investors. This is calculated by analyzing all sales in a given year and checking to see if the buyer of the property listed the home for lease six months after they took possession.
We generally like to see investor demand in the single digit range. As the share of homes bought by investors moves into the double digits investors end up having an outsized impact on demand and home prices in the area. When investor demand accelerates rapidly there is a risk that demand is based more on extrapolative expectations rather than market fundamentals.
The Price-to-Rent ratio is a common metric used by economists to assess how affordable homes are. They do this by comparing the cost of owning to the cost of renting. This metric is calculated by taking the median sale price in a given region and dividing that by the median annual rent. If the median home price in a particular neighbourhood is $600,000 and the median rent is $2,250 per month (or $27,000 annually) the Price to Rent ratio would be 22 ($600,000 divided by $27,000).
This means that the price of a home is roughly 22X the annual cost of rent. If a nearby neighbourhood has a Price to Rent ratio of 30x then home prices in that area would be even more expensive relative to rents. Similarly, a neighbourhood where homes are only 12x rents would be far more affordable for the average home buyer given the current level of rent they would have to pay.
The Price-to-Income ratio is another common metric economists use to assess how affordable homes are. This ratio compares the cost of price of homes against the median household income. The ratio is calculated by taking the median rent in a particular area and dividing that by the median household income for that same region. If the median home price in a particular neighbourhood is $600,000 and the median household income is $100,000 the the Price to Income ratio for that region would be 6. This means that the median price of a home is 6x the median household income.
A Price-to-Income ratio of 10x would suggest homes are significantly less affordable than in our former example because the cost of owning is 10x the median household income.
Note that urban neighbourhoods that have a high percentage of renters will often have a much higher Price-to-Income ratio than suburban neighbourhoods in which there are fewer renters. One of the reasons for this is that renters tend to have lower incomes than homeowners which means that neighbourhoods with a high percentage of renters will naturally have a lower median income.
School boundary information and data is provided for general information and is not intended to replace the official policies of school boards and schools which have the right to determine and change such policies including school admission boundaries and any other information and data at any time. Ownership of or residence at a dwelling at a particular address does not guarantee admission to a particular school or program. You should confirm all current policies, information and data pertaining to a school directly with that school before making use of any such information and data.
School performance information and data is provided for general information only. Scores for province-wide tests assessing student performance administered by the Education Quality and Accountability Office (EQAO), an Ontario provincial agency, are graded out of 100 (e.g., 0 to 100) and represent the number of students on or above the provincial standard for that subject for that year. N/A normally indicates that a school does not have a school population large enough to administer test accurately or did not administer a test (e.g., due to teacher strikes), but other reasons may apply. Totals and averages may show slight discrepancy due to rounded figures. School letter grades (e.g., A, B, etc.) are assigned by Realosophy based on EQAO data. The EQAO should be considered the only source of official information for assessing school performance and any information and data provided to you by Realosophy should be verified by EQAO prior to making use of any such information and data.
Where applicable, information for a specific neighborhood, municipality or area is shown in comparison to the same information for the entire Greater Toronto Area (GTA) information so that the distinct features of the subject area are more clearly highlighted.
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