Toronto and Etobicoke Real Estate Home Sales for September 2019
Looking for current information on Toronto and Etobicoke Real Estate Home Sales for September 2019? Here are the latest numbers for Home Sales in Toronto and Etobicoke.
GTA REALTORS® Release September 2019 Statistics
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22% compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales.
On a preliminary seasonally adjusted basis, the September 2019 sales level remained in virtually the same as the August 2019 result.
The supply of listings continued to be a concern in September 2019, with new listings down by 1.9% year-over-year to 15,611. We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, resulting in the overall number of active listings at month-end being well-below last year’s levels. This speaks to tightening market conditions and an accelerating annual rate of price growth.
The annual rate of price growth in September reached the highest point so far in 2019. The MLS® Home Price Index (HPI) Composite Benchmark was up by 5.2% on a year-over-year basis in September. The average selling price for all home types combined was up by a similar annual rate of 5.8% to $843,115.
On a preliminary seasonally adjusted basis, the September 2019 average selling price was up by 1.2% compared to August 2019.
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.