Mid August 2017 Toronto Housing Market Stats - Just In!
Toronto Real Estate Board's
Market Watch Report
For the First 2 Weeks of August 2017 - New Listings are DOWN -10% versus the same period in August 2016. The Average Price of a home in the GTA now sits at $731,614 accomplished on sales of 2706 units representing a decline of 35.6% in sales volume versus the 1st 2 weeks of August 2016.
July 2017 - New MLS Listings - UP +5.1% vs July 2016
(Note - this compares to +48.9% increase in New MLS Listing in May 2017 vs May 2016. July's result indicates that we are no longer experiencing the surge of new listings we experienced in May and that a return to a severe under supply of properties for sale is possible for the Fall & Winter. We know what happens when to prices when demand far outstrips supply.)
July 2017 - GTA Residential Sales DOWN - 40.4% versus July 2016
July 2017 - GTA Average House Price was $746,218. UP +5% vs July 2016
(Note - this compares to March 2017's Average House Price which sat at $916,567 and represented a + 33.2% increase over March 2016's Average House price. July's result further indicates that the pace of price growth has not only slowed BUT has been reversing since March 2017)
July 2017 416Condo sales were down -28.3% BUT the (416) Condo Average Price was still UP by +23.2% vs when compared to July 2016
416 Average Condo price in July 2017 is to $532,502.
Toronto Real Estate Board President Tim Syrianos announced the release of TREB’s Q2 2017 Condo Market Report. Greater Toronto Area REALTORS® reported 8,223 condominium apartment sales reported through TREB’s MLS® System between April and the end of June.
Toronto Real Estate Board President Tim Syrianos announced the continuation of very tight conditions in the condominium apartment rental market in the second quarter of 2017.