There has been a lot written about the housing bubble, the average home price in Toronto and the rest of Canada. I thought it might be fun and useful to try and calculate the implied value of all residential real estate in Toronto. My methodology will only give a very rough estimate as there are a lot of unknowns due to unavailability of Statistics. I’ve used stats from Statistics Canada and from the Toronto Real Estate Board to calculate the following figures.
Detached Homes in Toronto = 820,895 X Average Selling Price of Detached homes $1,068,670 = $877,265,859,650
Townhouses in Toronto = 281,795 X Average Selling price $617,000 = $173,867,515,000
Semi Detached homes = 147,600 X Avg. Price $728,814 = $107,572,946,400
Condos/Apartments = 662,285 X Avg. Price of $442,598 = $293,126,016,430
So, the total “value” of all housing in Toronto is about $1.5 Trillion Dollars.
This figure approaches Canada’s entire GDP of 2.39 Trillion CAD. It is nearly 5 times Toronto’s GDP
It’s about half the market cap of the Toronto Stock Exchange at $2.78 trillion.