GTA REALTORS® RELEASE SEPTEMBER RESALE HOUSING MARKET
FIGURES -www.TREBhome.com TORONTO, ONTARIO, October 4, 2017 – Toronto Real
Estate Board President Tim Syrianos announced that Greater Toronto Area
REALTORS® reported 6,379 sales through TREB’s MLS® System in September 2017.
This result was down by 35 per cent compared to September 2016. The number of
new listings entered into TREB’s MLS® System amounted to 16,469 in September –
up by 9.4 per cent year-over-year. “The improvement in listings in September
compared to a year earlier suggests that home owners are anticipating an uptick
in sales activity as we move through the fall. Consumer polling undertaken for
TREB in the spring suggested that buying intentions over the next year remain
strong. As we move through the fourth quarter we could see some buyers moving
off the sidelines, taking advantage of a better-supplied marketplace,” said Mr.
Syrianos. The average selling price in September 2017 was $775,546 – up 2.6 per
cent compared to September 2016. The MLS® Home Price Index (HPI) composite
benchmark was up by 12.2 per cent on a year-over-year basis. A key reason for
the difference in annual growth rates between the average price and the MLS®
HPI composite is the fact that detached homes – the most expensive market
segment on average – accounted for a smaller share of overall transactions this
year compared to last. “With more balanced market conditions, the pace of
year-over-year price growth was more moderate in September compared to a year
ago. However, the exception was the condominium apartment market segment, where
average and benchmark sales prices were up by more than 20 per cent compared to
last year. Tighter market conditions for condominium apartments follows
consumer polling results from the spring that pointed toward a shift to condos
in terms of buyer intentions,” said Jason Mercer, TREB’s Director of Market
Analysis
Homeownership in the Greater Toronto Area (GTA) became more affordable in March 2025 compared to the previous year. On average, both borrowing costs and home prices have declined over the past year, making monthly payments more manageable for households looking to buy a home. “Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring. Buyers will also benefit from increased choice, giving them greater negotiating power. Once consumers feel confident in the economy and their job security, home buying activity should improve,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule. “Given the current trade uncertainty and the upcoming federal election, many households are likely taking a wait-and-see approach to home buying. If trade issues are solved or public policy choices help mitigate the impact of tariffs, home sales will likely increase. Home buyers need to feel their employment situation is solid before ...
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