Toronto's Monthly Real Estate Market Stats for October 2019
The Toronto stats are in and here’s how the various neighborhoods in Etobicoke Stacked up!
The GTA reported a 14 per cent increase in residential real estate sales for October 2019, with sales up for all major home types.
A strong economy is fuelling population growth in Toronto. Many of these households have a goal of purchasing a home, contributing to a greater demand for Real Estate in Toronto.
With the supply of listings dropping, it has resulted in tighter market conditions, translating into higher real estate prices in Toronto and the GTA.
All levels of government recognize that we continue to face a supply issue in the GTA for all types of housing while the Toronto Real Estate Board continues to work with policy makers at all levels.
The average selling price for all home types in the GTA combined was up 5.5% to $852,142 from this time last year.
We anticipate stronger price growth moving forward if the demand for Toronto housing continues to outpace new listings onto the market. This will lead to more competition between Toronto & GTA home buyers.
*Stats and Data taken from the Toronto Real Estate Board (TREB) News Release dated November 5, 2019.