BuyersMortgage News October Market Insights by admin November 28, 2018July 19, 2019 November 28, 2018July 19, 2019 Greater Toronto, November 5, 2018 – 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. Source: TREB (Toronto Real estate Board) Market Insightsreal estate in torontoreal estate marketreal estate Market InsightsReal Estate News About Nest and Castle Nest & Castle Inc is a leading edge real estate brokerage based in the heart of the Greater Toronto Area (GTA). We provide creative solutions and strategic advice on all aspects of the real estate industry. Our mix of conventional real estate techniques and forward-thinking technologies makes the buying or selling of your home, an easy and enjoyable experience. Search Exclusive New Developments Looking for your Dream Home? Sell Smarter With Data. It's The Future. 0 comment previous post GTA new home sales post best month of 2018 so far next post Rate rises may be reshaped by oil production cuts says CIBC You may also like M City Phase 3 Mississauga Launching Soon September 30, 2018 A Closer Look: The Forest Hill Condos –... September 6, 2019 Record investment in this sector will continue in... November 27, 2018 What is an Assignment? Pre-construction Condos July 23, 2020 Fleur Condos INSIDER SALES PROGRAM BUY WITH 10%... September 11, 2019 How to flu-proof your home this winter November 29, 2020 Why cash flow doesn’t matter January 25, 2019 GTA rents continue surge October 28, 2018 First Look: 99 Blue Jays Way – Toronto August 19, 2019