Market Update: September 2017
Written On October 16, 2017
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 6,379 sales through TREB’s MLS® System in September 2017. This result was down by 35 per cent compared to September 2016.
The number of new listings entered into TREB’s MLS® System amounted to 16,469 in September – up by 9.4 per cent year-over-year. “The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall.
Consumer polling undertaken for TREB in the spring suggested that buying intentions over the next year remain strong. As we move through the fourth quarter we could see some buyers moving off the sidelines, taking advantage of a better-supplied marketplace,” said Mr. Syrianos.
The average selling price in September 2017 was $775,546 – up 2.6 per cent compared to September 2016. “With more balanced market conditions, the pace of year-over-year price growth was more moderate in September compared to a year ago. However, the exception was the condominium apartment market segment, where average sales prices were up by more than 20 per cent compared to last year. Tighter market conditions for condominium apartments follows consumer polling results from the spring that pointed toward a shift to condos in terms of buyer intentions,” said Jason Mercer, TREB’s Director of Market Analysis.
Stay in the Loop!
Everybody likes being an insider, especially when it pertains to exclusive and soon to be released properties. Simply enter your email address and we will keep you apprised of upcoming listings.
You May Also Like
The October edition of our Monthly Newsletter was mailed this week, outlining events and activities that we’re looking forward to this month.
A rare opportunity in Leaside.
Greater Toronto Area REALTORS® reported 6,357 home sales through TREB’s MLS® System in August 2017, down by 34.8% compared to August 2016.