Real Estate News – GTA REALTORS® RELEASE SEPTEMBER RESALE HOUSING MARKET FIGURES

-www.TREBhome.com

TORONTO, ONTARIO, October 4, 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. 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

Published by www.Trebhome.com

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