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04 October 2017

September 2017 Market Stats

October 4, 2017

The market continues to work its way through the Ontario Government’s cooling measures and two recent consecutive interest rate increases by the Bank of Canada. Home sales in the Greater Toronto Area were down 35 per cent in September compared with the same month last year. However, the average selling price for all property types continued to increase with a 2.6 per cent rise compared to September 2016. Condos lead the selling price increase with a 23.2 per cent rise while detached home selling prices remain unchanged. With the number of new listings for the period up by 9.4 per cent year-over-year, the market is becoming better supplied which is good news for buyers.