Anne  Adams

Anne Adams

Broker of Record

TORONTO WEST REALTY INC., Brokerage*

Mobile:
(416) 801-7653
Office:
(416) 255-7653
Email Me

Toronto Real Estate Board Market Watch Update 

Toronto Real Estate Board Market Watch Update 

Market Watch Report 

Current Sales Update Click this Link below

https://www.torontowestrealty.com/?q=Current-Sales-Update.AnneAdams

GTA REALTORS® Release October Stats

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November 5, 2018 -- Toronto Real Estate Board President Garry Bhaura announced year-over-year increases in home sales and average sale prices reported through TREB's MLS® System in October 2018.

Greater Toronto Area REALTORS® reported 7,492 sales through TREB's MLS® System in October 2018 – a six per cent increase compared to October 2017. On a preliminary seasonally adjusted basis, sales were down by one per cent compared to September 2018.

The average sale price for October 2018 was up 3.5 per cent on a year-over-year basis to $807,340. After preliminary seasonal adjustment, the average selling price was up one per cent compared to September 2018. The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.6 per cent compared to October 2017. Price growth continued to be driven be the condominium apartment and higher density low-rise market segments.

"Annual sales growth has been positive since the late spring. While the OSFI stress test and higher borrowing costs have kept sales below 2016's record pace, many households in the Greater Toronto Area remain upbeat on home ownership as a quality long-term investment. A strong regional economy and steady population growth will continue to support the demand for housing ownership as we move into 2019," said Mr. Bhaura.

There were 14,431 new Listings entered into TREB's MLS® System in October 2018 – down 2.7 per cent compared to October 2017. The fact that sales were up and new listings were down year-over-year in October suggests that market conditions became tighter.

"Annual sales growth has outstripped annual growth in new listings for the last five months, underpinning the fact that listings supply remains an issue in the Greater Toronto Area. With municipal elections in the rear view mirror, all levels of government need to concentrate on policies that could remove impediments to a better-supplied housing market, including facilitating the development of a broader array of medium density housing choices," said Jason Mercer, TREB's Director of Market Analysis.

 

 Please E-mail me at aadams@torontowestrealty.com or call me on my easy to remember numbers for any real estate matter, any time.

 

416 255 SOLD (7653)   or

Cell  416 801 SOLD (7653)

 

Anne Adams, Broker of Record
Toronto West Realty Inc., Brokerage

 aadams@torontowestrealty.com

www.TorontoWestRealty.com 

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