TORONTO AND ETOBICOKE REAL ESTATE HOME SALES FOR OCTOBER 2019
Looking for current information on Toronto and Etobicoke Real Estate Home Sales for October 2019? Here are the latest numbers for Home Sales in Toronto and Etobicoke.
GTA REALTORS® Release October 2019 Statistics
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,491 residential sales through TREB’s MLS® System in October 2019. This result represented a 14% increase compared to 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types.
The trend of annual growth in sales versus annual decline in new listings continued in October 2019, with new listings down by 9.6% compared to October 2018. The resulting tighter market conditions compared to a year ago resulted in positive annual rates of price growth across all major market segments, from a GTA-wide perspective.
The MLS® Home Price Index Composite Benchmark was up by 5.8% on a year-over-year basis in October 2019 – the strongest annual rate of growth since December 2017. The average selling price for all home types combined was up by 5.5% to $852,142, compared to $807,538 in October 2018.
“As market conditions in the GTA have steadily tightened throughout 2019, we have seen an acceleration in the annual rate of price growth. While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers,” said Jason Mercer, TREB’s Chief Market Analyst.
What does this all mean for you and how do you navigate the Toronto and Etobicoke real estate market if you are thinking about buying or selling?
If you would like up to the minute statistics based on all the homes for sale in your neighbourhood send me a quick email let me know which area you live in and type of home and I’ll send that off to you right away!
If you are looking to buy, just let me know your preferred price range, style of home, wants, needs and area and I’ll send you a list of the best homes that suit your criteria right now! This is the time to buy, not sit on the fence and wait to see what happens. Prices are increasing not going down, interest rates are good and so is unemployment. Our market is continuing to strengthen.
It’s important for me as a Realtor® to provide you with up to date local market statistics. This way, you are kept in the know about your home’s worth.