There were 7,711 residential sales in Toronto in August 2019. This was a 13.4% increase compared to 6,797 sales reported in August 2018. On a month-over-month basis, after preliminary seasonal adjustment, sales were up by 0.8%.
There were 8,595 home sales in Toronto in the month of July. This result was up by 24.3% compared to July 2018. On a month-over-month basis, sales were up by 5.1%, after preliminary seasonal adjustment. New listings were also up compared to July 2018, but by a much lesser annual rate than sales, at 3.7%.
There were a reported 9,989 sales in Toronto last month which is an increase of 18.9% over the 15-year low experienced in May 2018. However, this result is still below the average that we have seen in the month of May over the past ten years, which is 10,300. This year-over-year uptick in sales does suggest though, that the share of likely home buyers in the GTA has edged upwards since the fall.
In the 19 years I have been in real estate I have often contemplated this question…..what DO we stand for? And in addition to that, what do we stand against?