Market Update

Market Update - June 2018

Market Update - June 2018

The Toronto Real Estate Board reported 8,082 home sales through TREB’s MLS® System in June 2018 – up 2.4% over the June 2017 result. 

The average selling price in June edged up by 2% on a year-over-year basis to $807,871. While this is an interesting statistic, it does not reflect the reality of the market. The average price reflects the price of homes that have been selling. Because of the tightening of the mortgage rules those homes have generally been under $1,000,000 with 35% of them being condominiums, either apartments or townhouses, selling at an average price of about $575,000. These less expensive homes impact the “average selling price”.

Market Watch - April 2018

Market Watch - April 2018

It's been such an interesting time in the real estate market since the beginning on 2018. There's been so many changes in the Toronto real estate industry. Coming off the market's peak from last year and into January's mortgage stress test, we're now starting to see the market stabilize and the mindset of homeowners coming to terms with the new normal.

On a year over year basis, the number of sales through TREB MLS® is down 31.1%. This number is mostly effected by the decrease in amount of sales of detached home which is down 38.4% from last year verses the amount of sales of condos apartments compared to last year, just down 26.0%.