October 2018 Real Estate Market Watch Greater Toronto
Sales were up for the month on a year-over-year basis by 6%, with the number of new listings down 2.7% over the same period last year
The average selling price for October 2018 was $807,340 compared to $780,400 in 2017.
“Annual sales growth has been positive since the late spring. While the OSFI stress test and higher borrowing costs have kept sales below 2016’s record pace, many households in the Greater Toronto Area remain upbeat on home ownership as a quality long-term investment. A strong regional economy and steady population growth will continue to support the demand for housing ownership as we move into 2019,” … Toronto Real Estate Board President Garry Bhaura.
The Average Selling Price for homes in the GTA ….. up 3.5% from the same period last year
“Annual sales growth has outstripped annual growth in new listings for the last five months, underpinning the fact that listings supply remains an issue in the Greater Toronto Area. With municipal elections in the rear view mirror, all levels of government need to concentrate on policies that could remove impediments to a better-supplied housing market, including facilitating the development of a broader array of medium density housing choices,” … Jason Mercer, TREB’s Senior Manager of Market Analysis.
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Search “All” The Listings Here ….. Use our quick search links for homes for sale in the following Durham Region Communities of Uxbridge, Port Perry/Scugog and Brock or the York Region Communities of Georgina, East Gwillimbury, Whitchurch-Stouffville or our map search platform the choice is yours.
Statistics Are What They Are
The Real Estate Market Is Local and sometimes hyper-Local While Statistics Charts and Graphs may provide an indication of market trends they should not be used to determine value trends in relation to a particular home or vicinity.
The best way to determine the Value of Your Home is a Comparative Market Analysis. To discuss today’s local Uxbridge Real Estate Market Conditions, the current value of your home or the marketing of your Home please Contact Me @ 905.852.6143
caveat – E&OE – these numbers reflect the raw data as reported by the Toronto Real Estate Board for the past month at the time of posting.
** “New” listings entered into the Toronto MLS® system between the first and last day of the month being reported may include listings that were previously listed and cancelled or expired and then relisted.