Toronto and Etobicoke Real Estate Home Sales for June 2018

Posted on: July 8th, 2018

Toronto and Etobicoke Real Estate Homes Sales for September 2017
Looking for current information on Toronto and Etobicoke Real Estate Home Sales for June 2018? Here are the Toronto and Etobicoke Real Estate Homes Sales for June 2018.

GTA REALTORS® Release June Stats

Toronto Real Estate Board President Garry Bhaura, in his first market release as TREB President, is pleased to announce some positive signs with respect to the housing market.

Greater Toronto Area REALTORS® reported 8,082 home sales through TREB’s MLS® System in June 2018 – up 2.4% compared to the low June 2017 result. After preliminary seasonal adjustment, sales were also up 17.6% on a monthly basis between May 2018 and June 2018, continuing the trend of somewhat volatile month-over-month changes over the past year as home buyers reacted to various policy changes impacting the market.

“Home ownership has proven to be a positive long-term investment. After some adjustment to the Fair Housing Plan, the new Office of The Superintendent of Financial Institutions (OSFI) stress test requirement and generally higher borrowing costs, home buyers are starting to move back into the market, with sales trending up from last year’s lows. Market conditions appear to be tightening,with sales accounting for a greater share of listings, as new listings have dropped compared to last year,” said Mr. Bhaura.

The average selling price edged up by 2% on a year-over-year basis to $807,871 in June 2018. After preliminary seasonal adjustment, the average selling price was also up by 3.3% month-over-month between May 2018 and June 2018. The MLS® Home Price Index (HPI) was down by 4.8% on a year-over-year basis, but remained basically flat month-over-month. The difference in the year-over-year rates of change between the average price and the MLS® HPI was likely due, at least in part, to a change in the mix of properties sold in June 2018 compared to June 2017, with low-rise home types accounting for a greater share of sales in June 2018.

“The expectation is to see improvement in sales over the next year. Over the same period, however, it is likely that issues surrounding the supply of listings will persist. This suggests that competition between buyers could increase, exerting increased upward pressure on home prices. With a new provincial government in place and municipal elections on the horizon, housing supply should be top-of-mind for policy makers,” said Jason Mercer, TREB’s Director of Market Analysis and Service Channels.

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 June for Etobicoke:

ETOBICOKE REAL ESTATE MARKET WATCH

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DistrictActiveSold/MonthSold/YearAverage$/Month
Area Total:5753131671 
W06288137724$740,249
W074325156$1,219,516
W08244151791$979,518

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!

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