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October Real Estate Sales Report

October Sales Report For The GTA.

October Sizzled – No slow down in sight.

Well October continues to buck any downward trend predictions with over 8800 home sold in the GTA during the month. This is more than any other October on record. Condo sales are leading the pack with an increase of 9.7% in both the 416 and the 905.

Detached home sales in the 416 show a steep decline – likely due to lack of inventory.

Prices continue to climb in all markets in the 416 and the 905. Leading the way in the 416 are detached homes and townhouses. In the 416 semi-detached homes are leading the market trends.

If the numbers continue to mirror the historic trends, more then 100,000 homes will be sold in the GTA in 2015, a new record. This will break the record for 2014 of over 93,000 homes sold.

 

Type of Home 416 – Sales Aug Price Change over 2014 905 Sales August Price Change over 2014
Detached ⬇9.7% ⬆12.5 % ⬆2.4% ⬆9.1%
Semi-Detached ⬆1.9% ⬆10 % ⬆4.2% ⬆13.8%
Townhouse ⬇3.6% ⬆11.2 % ⬆9.1% ⬆10.1%
Condo ⬆9.7% ⬆4.2 % ⬆9.7% ⬆3.0 %

 

“Record sales coupled with a constrained supply of listings in many GTA neighbourhoods has underpinned very strong price growth through 2015,” TREB Director of Market Analysis Jason Mercer said in the report.

“Even if we do see a greater supply of low-rise listings in the marketplace over the next year, market conditions will remain tight enough to see continued price growth.”

If you’d like to know about prices in your area, feel free to drop me an email and I can send you more information on your specific area. And remember I am never to busy for your referrals.

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