A sales growth of 22%, an insight of your real estate market.

Tuesday, October 8, 2019 Written by Emmanuelle in News

According to Toronto Real Estate Board release on October 3rd, 2019: there has been through the TREB-MLS system 7,825 sales in September 2019.

This represent a sales growth of 22% compared to 6,414 sales reported in September 2018. However, this number is well below the peak in September 2016 of more than 9,800 sales. The supply of listings continued to be a concern in September 2019, with new listings down by 1.9 %. We are well below last year’s levels, tightening market conditions. Demand for ownership housing increased throughout the spring and summer of 2019 compared to the very slow pace of sales in 2018.

Still many First-Time Home Buyers are experiencing difficulty finding an affordable home. It is important to keep that in mind, as we head up to Federal October elections. The annual rate of price growth in September reached the highest point so far in 2019. The MLS Home Price Index (HPI) composite Benchmark was up by 5.2 % on a year over year basis. A study conducted  by TREB shows that many intending home buyers are still focused on ground-oriented housing, reminding us of a need for a greater diversity of housing types between detached and condominiums.  

Annual TREB MLS Sales& Average Price by Home Type for 905 region /Year-to Date 2019
  Sales Average Price
Detached 24,123 919,113
Yr./Yr % Change 18.8% 0.4%
Semi-Detached 4,195 685,534
Yr./Yr % Change 14.6% 4.1%
Townhouse 8,789 623,227
Yr./Yr % Change 13.7% 2.8%
Condo Apartment 5,613 475,827
Yr./Yr % Change 10.3% 6%

Would you have more specific questions, I am here to help and share with you my knowledge of the market.

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