Toronto dusk by Jude Freeman
September is behind us, kids are in schools again and nature is starting to wear all the warm colours that will cause social media to overflow with artsy pictures of falling leaves. As for the real estate market in Toronto, everything goes as predicted in the previous months. According to Toronto Real Estate Board President Mark McLean, the Greater Toronto Area REALTORS® have reported a record breaking 8,200 overall sales in the whole GTA area, which is a 1.85 per cent increase when compared to 8,051 sales in September 2014. The average price has risen by 9.36 per cent, from last year’s $573,676 to $627,395 in September 2015.
On the other hand, the number of active listings has decreased by 7.3 per cent, from 19,165 in last year’s September to this year’s 17,765. Same goes for the average number of days on market, which dropped from 25 days in September 2014 to 22 days this year.
We are on track for record home sales reported through TREB’s MLS® System this year. Barring a drastic shift in the economy over the next three months, total transactions reported by TREB Members in 2015 are expected to be at or near the 100,000 mark. This is a testament to the importance that GTA households put on home ownership as a long-term investment,
said Mark McLean.
The rest of the year is about to continue in the same pace, which tends to favour the sellers, so if you are considering to sell your property, this might be a good time. Feel free to contact our team with any questions regarding both buying and selling real estate. We'll be more than happy to help!