NEWS RELEASE



GTA REALTORS® Release September Resale Housing Market Figures

TORONTO, October 4, 2017 -- Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 6,379 sales through TREB’s MLS® System in September 2017.  This result was down by 35 per cent compared to September 2016.

The number of new listings entered into TREB’s MLS® System amounted to 16,469 in September – up by 9.4 per cent year-over-year.

“The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall.  Consumer polling undertaken for TREB in the spring suggested that buying intentions over the next year remain strong.  As we move through the fourth quarter we could see some buyers moving off the sidelines, taking advantage of a better-supplied marketplace,” said Mr. Syrianos.

The average selling price in September 2017 was $775,546 – up 2.6 per cent compared to September 2016.  The MLS® Home Price Index (HPI) composite benchmark was up by 12.2 per cent on a year-over-year basis.  A key reason for the difference in annual growth rates between the average price and the MLS® HPI composite is the fact that detached homes – the most expensive market segment on average – accounted for a smaller share of overall transactions this year compared to last.

“With more balanced market conditions, the pace of year-over-year price growth was more moderate in September compared to a year ago.  However, the exception was the condominium apartment market segment, where average and benchmark sales prices were up by more than 20 per cent compared to last year.  Tighter market conditions for condominium apartments follows consumer polling results from the spring that pointed toward a shift to condos in terms of buyer intentions,” said Jason Mercer, TREB’s Director of Market Analysis.

 

 

 

Summary of TorontoMLS Sales and Average Price September 1 - 30, 2017

 

2017

2016

 

Sales

Average Price

New Listings

Sales

Average Price

New Listings

 

City of Toronto ("416")

2,510

809,591

5,535

3,571

766,464

5,684

 

Rest of GTA ("905")

3,869

753,459

10,934

6,259

750,063

9,366

 

GTA

6,379

775,546

16,469

9,830

756,021

15,050

 

TorontoMLS Sales & Average Price  By Home Type September 1 - 30, 2017

Sales

Average Price

416

905

Total

416

905

Total

Detached

642

2,138

2,780

1,355,234

912,921

1,015,067

Yr./Yr. % Change

-41.0%

-40.3%

-40.4%

4.4%

-1.7%

0.0%

Semi-Detached

255

384

639

935,467

630,797

752,379

Yr./Yr. % Change

-15.3%

-37.5%

-30.2%

5.2%

3.7%

7.4%

Townhouse

230

768

998

685,016

586,731

609,382

Yr./Yr. % Change

-39.9%

-32.5%

-34.4%

4.8%

8.6%

7.1%

Condo Apartment

1,362

498

1,860

554,069

428,360

520,411

Yr./Yr. % Change

-23.2%

-37.0%

-27.5%

24.0%

16.6%

23.2%

September 2017 Year-Over-Year Per Cent Change in the MLS® HPI

 

 

Composite (All Types)

Single-Family Detached

Single-Family Attached

Townhouse

Apartment

 

TREB Total

12.22%

8.56%

7.80%

16.47%

24.22%

 

Halton Region

13.37%

12.30%

10.64%

15.24%

18.35%

 

Peel Region

12.15%

9.12%

9.40%

16.55%

22.44%

 

City of Toronto

15.28%

6.63%

8.70%

17.95%

25.98%

 

York Region

6.20%

4.87%

2.83%

16.28%

21.51%

 

Durham Region

11.04%

10.88%

8.71%

13.72%

14.52%

 

Orangeville

19.33%

18.95%

20.59%

-

-

 

South Simcoe County1

13.07%

13.05%

13.95%

-

-

 

Source: Toronto Real Estate Board

 

1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth