Our real estate board issued their September summarization of GTA realtors' results. All indicators suggest that we should have one of the best years in the current TREB area.
Sellers are usually more interested in price. This report offers them good news. The average price grew by 10% to $406,877 and gained +$19,000 within the last month. The median price continued to grow as well, reaching $347,000 mark (+$9,000 since the last month).
Buyers can still enjoy decent stock on offer, however time is running out. Realtors reported 8,196 sales; slightly more than the last month (8,035) and the inflow of new homes was even higher (12,185 new MLS listings compared to 10,632 last month), however a sharp drop of Days on Market indicator (from 30 to 27 days) indicates growing volume of real estate transactions which may soon influence the overall stock of properties and thus restrict the supply.
GTA area is well on a good way to finish this year with record results, reaching well over 80,000 sales. There have been 66,437 units already sold in the first nine months.
Real estate prices in ten years, source:TREB