Toronto and Etobicoke Real Estate Home Sales for October 2018
Looking for current information on Toronto and Etobicoke Real Estate Home Sales for this past October 2018? Here are the latest numbers for Home Sales in Toronto and Etobicoke.
GTA REALTORS® Release October Sold Statistics
Toronto Real Estate Board President Garry Bhaura announced year-over-year increases in home sales and average sale prices reported through TREB’s MLS® System in October 2018.
Greater Toronto Area REALTORS® reported 7,492 sales through TREB’s MLS® System in October 2018 – a six per cent increase compared to October 2017. On a preliminary seasonally adjusted basis, sales were down by one per cent compared to September 2018.
The average sale price for October 2018 was up 3.5 per cent on a year-over-year basis to $807,340. After preliminary seasonal adjustment, the average selling price was up one per cent compared to September 2018. The MLS® Home Price Index (HPI) Composite Benchmark was up by 2.6 per cent compared to October 2017. Price growth continued to be driven be the condominium apartment and higher density low-rise market segments.
“Annual sales growth has been positive since the late spring. While the OSFI stress test and higher borrowing costs have kept sales below 2016’s record pace, many households in the Greater Toronto Area remain upbeat on home ownership as a quality long-term investment. A strong regional economy and steady population growth will continue to support the demand for housing ownership as we move into 2019,” said Mr. Bhaura.
There were 14,431 new Listings entered into TREB’s MLS® System in October 2018 – down 2.7 per cent compared to October 2017. The fact that sales were up and new listings were down year-over-year in October suggests that market conditions became tighter.
“Annual sales growth has outstripped annual growth in new listings for the last five months, underpinning the fact that listings supply remains an issue in the Greater Toronto Area. With municipal elections in the rear view mirror, all levels of government need to concentrate on policies that could remove impediments to a better-supplied housing market, including facilitating the development of a broader array of medium density housing choices,” 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 Sales for your local area, I have you covered.
Here is a snapshot of homes sold in Etobicoke for the month of October:
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!
Please let me know how I can answer any of your real estate questions today.