The Toronto Real Estate Board reported 6,251 residential transactions in November 2018. This result was down by 14.7% compared to November 2017. The average selling price was up by 3.5% year-over-year to $788,345.
New listings were actually down 26.1%, more than sales on a year-over-year basis in November. This suggests that in many neighbourhoods, competition between buyers has increased. Relatively tight market conditions over the past few months has provided the foundation for renewed price growth.
On a preliminary seasonally adjusted basis, sales were down by 3.4 % compared to October 2018. The average selling price after preliminary seasonal adjustment was down by 0.8% compared to October 2018.
“Toronto’s Luxury Real Estate Authority”