Mid-October Resale Figures Released
The Toronto Real Estate Board reported 3,889 sales during the first two weeks of October 2015. This represented a 3.1% increase in comparison to the first two weeks of October 2014. Broken down by major market segment, the strongest annual growth in sales was in the townhouse segment, followed by condominium apartments and semi-detached houses. Detached home sales were down on a year-over-year basis.
With sales up year-over-year in the first two weeks of the fourth quarter, the market remains on track for a record year for home sales. It is also interesting to note that the number of new listings were also up compared to the same period in 2014.
The average selling price for all home types combined was $623,508. This represented an increase of 6.8% compared to the first two weeks of October 2014. The strongest annual rates of price growth were noted for semi-detached houses and townhouses, at 10.5%. The average price for the condominium apartment segment, which remains better supplied compared to the low-rise home type market segments, was up by a more moderate annual rate of 3.9%.
If you want to buy or sell a Toronto condo or loft, contact Casey Ragan at 416-486-5588 or by email at firstname.lastname@example.org
“Toronto’s Condo Authority”