According to the Toronto Real Estate Board (TREB), there were 8,200 sales through the Multiple Listing Service (MLS) in September. Up by 2.5 per cent compared to September 2014.
September saw an average selling price of $627,395 - which is up by 9.2 per cent from the average selling price of $574,424 reported in September 2014.
“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, President of the Toronto Real Estate Board.
The median price in September 2015 was $524,900.
The median price in September 2014 was $475,000.
“While September was the second straight month where annual growth in new listings outstripped annual growth sales, total active listings at the end of the month still remained below last year’s level. This, coupled with the record pace of sales experienced so far this year, suggests that competition between buyers will remain strong as we move into the fourth quarter. Expect strong rates of price growth to continue through the remainder of 2015 and into 2016,” said Jason Mercer, TREB’s Director of Market Analysis.
*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).