GTA REALTORS® Release September Resale Housing Ma

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Posted On: 10/04/2017 8:00:25 AM

Posted By: News Desk 2018

GTA REALTORS® Release September Resale Housing Market Figures

TORONTO, Oct. 04, 2017 (GLOBE NEWSWIRE) -- 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. The MLS® Home Price Index (HPI) composite benchmark was up by 12.2 per cent on a year-over-year basis. A key reason for the difference in annual growth rates between the average price and the MLS® HPI composite is the fact that detached homes – the most expensive market segment on average – accounted for a smaller share of overall transactions this year compared to last.

“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 and benchmark 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.

Summary of TorontoMLS Sales and Average Price September 1 - 30, 2017
		2017														2016
		Sales		Average Price					New Listings							Sales			Average Price					New Listings
City of Toronto ("416")		2,510		809,591					5,535							3,571			766,464					5,684
Rest of GTA ("905")		3,869		753,459					10,934							6,259			750,063					9,366
GTA		6,379		775,546					16,469							9,830			756,021					15,050
TorontoMLS Sales & Average Price By Home Type September 1 - 30, 2017
			Sales												Average Price
			416					905			Total				416						905					Total

Detached			642					2,138			2,780				1,355,234						912,921					1,015,067
Yr./Yr. % Change			-41.0				%	-40.3		%	-40.4			%	4.4					%	-1.7				%	0.0		%
Semi-Detached			255					384			639				935,467						630,797					752,379
Yr./Yr. % Change			-15.3				%	-37.5		%	-30.2			%	5.2					%	3.7				%	7.4		%
Townhouse			230					768			998				685,016						586,731					609,382
Yr./Yr. % Change			-39.9				%	-32.5		%	-34.4			%	4.8					%	8.6				%	7.1		%
Condo Apartment			1,362					498			1,860				554,069						428,360					520,411
Yr./Yr. % Change			-23.2				%	-37.0		%	-27.5			%	24.0					%	16.6				%	23.2		%
September 2017 Year-Over-Year Per Cent Change in the MLS® HPI
	Composite (All Types)					Single-Family Detached							Single-Family Attached					Townhouse					Apartment
TREB Total	12.22				%	8.56						%	7.80				%	16.47				%	24.22				%
Halton Region	13.37				%	12.30						%	10.64				%	15.24				%	18.35				%
Peel Region	12.15				%	9.12						%	9.40				%	16.55				%	22.44				%
City of Toronto	15.28				%	6.63						%	8.70				%	17.95				%	25.98				%
York Region	6.20				%	4.87						%	2.83				%	16.28				%	21.51				%
Durham Region	11.04				%	10.88						%	8.71				%	13.72				%	14.52				%
Orangeville	19.33				%	18.95						%	20.59				%	-					-
South Simcoe County¹	13.07				%	13.05						%	13.95				%	-					-
Source: Toronto Real Estate Board
¹South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

Media Inquiries: Mary Gallagher, Senior Manager Public Affairs (416) 443-8158 maryg@trebnet.com

TREB is Canada’s largest real estate board. Over 48,000 residential and commercial TREB Members serve consumers in the Greater Toronto Area. Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service®.

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