Just In! The Toronto Real Estate Board's October 2017 Market Watch Report
A Quick RECAP For October 2017
There were 7,118 residential sales through TREB’s MLS® System in October 2017 compared to 9,715 transactions in October 2016 - down 26.7% versus the previous year. This result represented an above-average increase between September and October 2017 - however - of almost 12% - pointing to stronger fall market conditions.. On a year-over-year basis there were 80,198 sales to the end of October 2017 which is down compared to total sales of 99,233 reported through the first 10 months of 2016.
There were 14,903 new listings in October 2017 versus 13,331 new listings in October 2016 - which represents an increase on monthly new listings of 11.8%
There were 18,859 Total "Active" listings in October 2017 versus 10,563 "Active" Listings for October 2016 a 78.5% increase in total available listings.
Average Days on Market (DOM) was 23 days versus 16 days in October 2016 - it took 43.8% longer to sell a home in the GTA
The MLS® Home Price Index Composite benchmark price was up by 9.7 per cent on a year-over-year basis in October 2017. Annual rates of price growth were strongest for townhouses and condominium apartments.
The Average Selling Price for October transactions was $780,104 – up by 2.3 per cent compared to the average of $762,691 in October 2016.
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,374 transactions through TREB’s MLS® System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend.
Toronto Real Estate Board President Tim Syrianos announced that TREB Commercial Network Members reported over 378,000 square feet of combined industrial, commercial/retail and office space leased through TREB’s MLS® System in November 2017.