Sales Growth Continued in the Resale Market in September
The Toronto Real Estate Board reported 9,902 sales in September 2016. This result was up by 21.5% compared to September 2015. The average selling price was up by 20.4% to $755,755.
For the region as a whole, strong annual rates of sales growth were experienced for all major home types. The pace of detached sales growth was slower in the City of Toronto and the number of semi-detached sales was down compared to last year. In both cases, the year-over-year dip in new listings was likely the issue.
I've continued to see strong demand for ownership housing up against a short supply of listings in the Greater Toronto Area in September. The sustained lack of inventory in many neighbourhoods across the GTA continued to underpin high rates of price growth for all home types.
If you want to buy or sell a Toronto condo or loft, contact Casey Ragan at 416-486-5588 or by email at email@example.com
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