TORONTO AND ETOBICOKE REAL ESTATE HOME SALES FOR SEPTEMBER 2016
Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 9,902 sales through TREB’s MLS® System in September 2016. This result was up by 21.5 per cent compared to September 2015. This also includes the Etobicoke real estate market.
For the region as a whole, strong annual rates of sales growth were experienced for all major home types. The pace of detached sales growth was slower in the City of Toronto and the number of semi-detached sales was down compared to last year. In both cases, the year-overyear dip in new listings was likely the issue.
“We continued to see strong demand for ownership housing up against a short supply of listings in the Greater Toronto Area in September. The sustained lack of inventory in many neighbourhoods across the GTA continued to underpin high rates of price growth for all home types.” – Mr. Cerqua.
Both the MLS® Home Price Index (HPI) Composite Benchmark and the average selling price for all home types combined were up strongly.This is on a year-over-year basis in September. The MLS® HPI Composite Benchmark grew by 18 per cent compared to September 2015. The average selling price was up by 20.4 per cent to $755,755. The MLS® HPI provides a price growth measure for a benchmark home. This allows for an apples-to apples comparison from one year to the next. The average selling price can be influenced by changes in both market conditions and the mix of homes sold.
“The Toronto Real Estate Board will be closely monitoring the recent changes. Federal mortgage lending guidelines and capital gains tax exemption rules impact the housing market. While these changes are pointed at the demand for ownership housing, much of the upward pressure on home prices in the GTA has been based on the declining inventory of homes available for sale.” – 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 September for Etobicoke Single Family Homes:
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 or send me an email.
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 IN 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!