September 2011 Market Watch

October 11, 2011 - Updated: October 11, 2011

 

According to the Toronto Real Estate Board (TREB), there were 7,658 sales through the Multiple Listing Service (MLS) in September. This is a 25 per cent increase from September 2010.

 

September saw an average selling price of $465,369 - which is close to a ten per cent increase from the average selling price of $425,757 reported in September 2010.

 

The listing situation is starting to improve, and in the months ahead we are expecting buyers to have more homes to choose from, according to TREB president Richard Silver, regardless of the strong growth in sales this year and an active summer compared to 2010, there still remained competition between buyers due to the shortage of listings in Septemeber.

 

The median price in September 2011 was $395,000.
The median price in September 2010 was $347,000.

 

"Strong price growth through the first nine months of the year was mitigated to a great degree by low interest rates and rising incomes" said Toronto Real Estate Board (TREB) Senior Manager of Market Analysis Jason Mercer.

 

*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).


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