The Toronto Real Estate Board reported 6,455 sales in September 2018 – up 1.9% compared to September 2017. The average selling price for September 2018 sales was up by 2.9% over the same period to $796,786. The MLS® HPI composite benchmark price was up by 2% year-over-year.
New listings in September 2018 amounted to 15,920 – down by 3.1% compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter.
On a monthly basis, after preliminary seasonal adjustment, sales edged up by 0.2% in September 2018 compared to August 2018. The average selling price, after preliminary seasonal adjustment, edged lower by 0.5% month-over-month.
Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condos, lofts, townhouses and semi-detached houses. In many neighbourhoods, these home types provide more affordable home ownership options.
“Toronto’s Luxury Real Estate Authority”