September Resale Market Figures Released
The Toronto Real Estate Board reported 6,379 sales in September 2017. This result was down by 35% compared to September 2016.
The number of new listings entered into TREB’s MLS® System amounted to 16,469 in September – up by 9.4% year-over-year.
The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall.
The average selling price in September 2017 was $775,546 – up 2.6% cent compared to September 2016. The MLS® Home Price Index (HPI) composite benchmark was up by 12.2% on a year-over-year basis. A key reason for the difference in annual growth rates between the average price and the MLS® HPI composite is the fact that detached homes – the most expensive market segment on average – accounted for a smaller share of overall transactions this year compared to last.
With more balanced market conditions, the pace of year-over-year price growth was more moderate in September compared to a year ago. However, the exception was the condo market segment, where average and benchmark sales prices were up by more than 20% compared to last year.
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”