West End Toronto Real Estate Market Update – October 2019

There were 8,491 residential sales reported through TREB’s MLS® System in October 2019. This result represented a 14 percent increase compared to October 2018.

GTA-wide, sales were up on a year-over-year basis for all major home types. “A strong regional economy obviously fuels population growth. All of these new households need a place to live and many have the goal of purchasing a home. The problem is that the supply of available listings is actually dropping, resulting in tighter market conditions and accelerating price growth”.

The trend of annual growth in sales versus annual decline in new listings continued in October 2019, with new listings down by 9.6 per cent compared to October 2018. The resulting tighter market conditions compared to a year ago resulted in positive annual rates of price growth across all major market segments. The MLS® Home Price Index Composite Benchmark was up by 5.8 per cent on a year-over-year basis in October 2019 – the strongest annual rate of growth sinceDecember 2017.

The average selling price for all home types combined was up by 5.5% to $852,142, compared to $807,538 in October 2018. “While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers,” said Jason Mercer, TREB’s Chief Market Analyst.








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