GTA Real Estate Market Report October 2017

Stronger Fall Market Conditions

Greater Toronto Realtors reported 7,118 residential sales through the Toronto MLS system in October 2017. The number of transactions in October represented a 26.7% decline compared to 9,715 transactions reported in October 2016.

Total sales reported through the first 10 months of 2017 amounted to 80,198-down from 99,233 for the same period in 2016.

For the region as a whole detached homes in the GTA experienced the largest sales decline at 29.8%.

The number of new listings reported in October was up by 11.8% compared to October 2016. The number of active listings reported in October was up by 78.5% compared to October 2016.

“Every year we generally see a jump in sales between September and October. However, this year that increase was more pronounced than usual compared to the previous ten years. So while the number of transactions was down relative to last year’s record pace, it certainly does appear that sales momentum is picking up,” said Mr. Syrianos, TREB’s President.

The average price in October was up by 2.3% from the same time last year to $780,104. Condo apartments in the GTA led the way in terms of an average price increase at 21.8% compared to the same time last year.

For the full report click HERE.

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