Resale Housing Market

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Resale Housing Market

  • date 2017-09-01 |
  • by Homelife Galaxy |

There were 6,379 sales reported by Greater Toronto Realtors through Toronto Real Estate Board's MLS System last month. This number represents a 35 per cent decline in comparison to September 2016. In September 2016, there were 9,830 sales reported through TREB's MLS System.

The average selling price of all homes combined last month was $775,546. This number represents a 2.6 per cent increase from September 2016. The average selling price of all homes combined in September 2016 was $756,021.

 Toronto Real Estate Board President Tim Syrianos stated that the improvement in listings last month in comparison to an year earlier indicated that home owners are expecting a small increase in sales activity throughout the fall season.

According to the consumer survey conducted by the Toronto Real Estate Board during the spring, buyer intentions throughout the next year remain strong. TREB President Tim Syrianos mentioned that we could see more home buyers moving from the sidelines and take advantage of the market with supply as we move through the fourth quarter of the year.

There were 16,469 new listings entered into TREB's MLS System in September. This number represents a 9.4 per cent increase from an year earlier.

TREB's Director of Market Analysis said that the pace of year-over-year price growth was more moderate last month in comparison to September 2016 due to more balanced market conditions. The condo market experienced an increase in average and benchmark sales prices by over 20 per cent last month compared to last year.

 Reference: Toronto Real Estate Board

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