Toronto and Etobicoke Real Estate Homes Sales for January 2018
Looking for current information on Toronto and Etobicoke Real Estate Home Sales for January 2018?
GTA REALTORS® Release January Stats
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 4,019 residential transactions through TREB’s MLS® System in January 2018. This result was down by 22% compared to a record 5,155 sales reported in January 2017.
The number of new listings entered into TREB’s MLS® System amounted to 8,585 – a 17.4 per cent increase compared to 7,314 new listings entered in January 2017. However, it is important to note that the level of new listings was the second lowest for the month of January in the past 10 years.
“TREB released its outlook for 2018 on January 30th. The outlook pointed to a slower start to 2018, especially compared to the record-setting pace experienced a year ago. As we move through the year, expect the pace of home sales to pick up, as the psychological impact of the Fair Housing Plan starts to wane and home buyers find their footing relative to the new OSFI mandated stress test for mortgage approvals through federally regulated lenders,” said Mr. Syrianos.
The MLS® Home Price Index Composite Benchmark was up by 5.2% year-over-year. This annual rate of growth was driven by the condominium apartment market segment, with double digit annual growth versus the single-family segment, with prices essentially flat compared to last year. The overall average selling price was down by 4.1% year-over-year to $736,783. This decline was weighted toward the detached segment of the market. In the City of Toronto, the average selling price was up for all home types except for detached houses.
“It is not surprising that home prices in some market segments were flat to down in January compared to last year. At this time last year, we were in the midst of a housing price spike driven by exceptionally low inventory in the marketplace. It is likely that market conditions will support a return to positive price growth for many home types in the second half of 2018. The condominium apartment segment will be the driver of this price growth,” said Jason Mercer, TREB’s Director of Market Analysis.
But that is only a snapshot of what happened in the GTA. If you are looking for Etobicoke Real Estate Home Sale stats for your local area, I have you covered.
Here is a snapshot of homes sold in the month of January for Etobicoke:
ETOBICOKE REAL ESTATE MARKET WATCH
How did your Etobicoke market do? Do you have questions about your Etobicoke home and wonder where it falls within theses stats?
For more detailed information on your Etobicoke neighbourhood or more specifically on your own home. I invite you to give me a call at 416-762-8255 or e-mail me today
PART OF MY JOB AS YOUR REALTOR® IS TO PROVIDE YOU WITH UP TO DATE LOCAL MARKET STATISTICS. THIS WAY YOU ARE KEPT IN THE KNOW ABOUT YOUR HOME’S WORTH.
THIS INFORMATION IS CRITICAL FOR MAKING A DECISION IF YOU ARE THINKING ABOUT WHETHER NOW IS A GOOD TIME TO SELL, BUY OR JUST ENJOY YOUR HOME FOR MANY YEARS TO COME!