TREB September 2019 Market Figures
Friday Oct 04th, 2019
On October 3rd, 2019 Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22% compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales.
On a preliminary seasonally adjusted basis, the September 2019 sales level remained in virtually the same as the August 2019 result.
The supply of listings continued to be a concern in September 2019, with new listings down by 1.9% year-over-year to 15,611.
We have experienced multiple months this year wherein the annual rate of sales growth outpaced the annual rate of new listings growth, ... This speaks to tightening market conditions and an accelerating annual rate of price growth.
The annual rate of price growth in September reached the highest point so far in 2019. The average selling price for all home types combined was up by 5.8% to $843,115.00
On a preliminary seasonally adjusted basis, the September 2019 average selling price was up by 1.2 per cent compared to August 2019.