Real Estate Market Update | Toronto, Nov. 2018

📈QUICK HIGHLIGHTS👇

 

👉 $788,345: Average selling price

 

🏡 AVERAGE SALE PRICES by HOME TYPE:
Detached- $1,301,382
Semi-detached- $1,060,359
Condo- $595,678


 OTHER FACTS:
Sale price change Y/Y +3.5%
Average days on market: 27
Properties sold this month: 6,251


📢 CONCLUSION:

Sales retracted in November while average sale prices increased. New listings retracted dramatically by more than 26 percent. These market factors are all consistent with a moderating yet still robust market. OSFI mandated mortgage stress testing and higher borrowing costs are having their intended moderating effect.⠀

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