GTA REALTORS® reported a new sales record for September. The sales went up by 2.5 per cent compared to September 2014, amounting to 8,200 homes sold. The average price for all home types was $627,395, which is a 9.2 per cent increase in a year-over-year comparison.
The inventory remains low. Active listings have dropped by 7.3 per cent compared to September 2015.
The Toronto Real Estate Market keeps increasing in both the number of sales and the price points despite a shaky Stock Market and and a fall election campaign. Why?
Remember that Toronto has a net influx of immigration of over 100,000 people a year, and a number of foreign nationals are moving money from stock markets to the slower moving housing markets.
Toronto has, with the exception of a few months in 2008, had a housing market that continues to rise slowly at a rate over inflation and certainly more than bank interest would be.
There is still a shortage of listings and we are always happy to help you get your property ready for the market, no matter what moves you….we are happy to help!!
Title photo by Ashton Pal