Real Estate News

November 2017 Newsletter

 

GTA REALTORS® Release October Stats

November 2, 2017 -- Toronto Real Estate Board President Tim Syrians reported 7,118 residential sales through TREB's MLS® System in October 2017. This result represented an above-average increase between September and October of almost 12 percent, pointing to stronger fall market conditions.

On a year-over-year basis, October sales were down compared to 9,715 transactions in September 2016. Total sales reported through the first 10 months of 2017 amounted to 80,198 – down from 99,233 for the same time period in 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 still down relative to last year's record pace, it certainly does appear that sales momentum is picking up," said Mr. Syrianos.

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The average selling price in September 2017 was $775,546 – up 2.6 percent compared to

The MLS® Home Price Index Composite Benchmark price was up by 9.7 percent on a year-over-year basis in October. Annual rates of price growth were strongest for townhouses and condominium apartments. The average selling price for October transactions was $780,104 – up by 2.3 percent compared to the average of $762,691 in October 2016.

The housing market in the GTA has been impacted by a number of policy changes at the provincial and federal levels. Similar to the track followed in the Greater Vancouver Area, it appears that the psychological impact of the Fair Housing Plan, including the tax on foreign buyers, is starting to unwind," said Jason Mercer, TREB's Director of Market Analysis.

 

Retrieved from Toronto Real Estate Board Report

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Best Fall Day Trips Near Toronto

Road trips are fun any time of the year – but especially during the fall when the foliage is at its prettiest and the summer crowds have melted away. So get your coffee to go and head out of town – even if it’s just for the day.

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Tree Lightings and Holiday Lights Events

As the nights get longer (and colder), the lights from holiday displays help lift our festive spirits. Don’t miss these tree lighting and holiday lighting ceremonies across Toronto and the GTA to kick off the holiday season.

 

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