Lindsay Reimers

Market Snapshot October 2019

12 November 2019
Lindsay Reimers

❗️Market Snapshot October 2019 ❗️


With Halloween behind us , we’re in the home stretch with only 2 months until the new year ( I know! "Where did 2019 go?!).
Greater Toronto Area REALTORS® reported 8,491 residential sales through TREBS MLS System in October 2019.
This result represented a 14 percent increase compared to 7,448 sales reported in October 2018. The trend of annual growth in sales versus annual decline in new listings continued in October 2019, with new listings down by 9.6 percent compared to October 2018. The tighter market conditions compared to a year ago resulted in positive annual rates of price growth across all major market segments, from a GTA-wide perspective.
The average selling price for all home types combined was up by 5.5 percent to $852,142, compared to $807,538 in October 2018. With the recent Federal election, many parties committed to more flexibility for buyers and the potential to reintroduce the 30-year amortization mortgage period along with other sustainable housing strategies. 

With the tight market conditions, it's important to be the first to know about available properties. If you're looking to buy I can set you up on a free personalized home search that will notify you in real-time as properties hit the market. It is just as important if you're thinking of selling. By staying in "the know" you can stay up to date on recent sales and be aware of the market conditions before listing your property.
If you would like to learn more about the current Toronto Market Stats or would like more information on my services, please feel free to send me an email at lreimers@royallepage.ca or give me a call  at 647-771-5703.