Yonge & Eglinton
COMMUNITY MARKET REPORT
Your Community Real Estate Resource!
by Jamie Black, Sales Representative
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,491 residential sales through TREB's MLS® System in October 2019. This result represented a 14 per cent increase compared to 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types.
The trend of annual growth in sales versus annual decline in new listings continued in October 2019, with new listings down by 9.6 per cent compared to October 2018. The resulting 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 MLS® Home Price Index Composite Benchmark was up by 5.8 per cent on a year-over-year basis in October 2019 – the strongest annual rate of growth since December 2017. The average selling price for all home types combined was up by 5.5 per cent to $852,142, compared to $807,538 in October 2018.
"As market conditions in the GTA have steadily tightened throughout 2019, we have seen an acceleration in the annual rate of price growth. While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers," said Jason Mercer, TREB's Chief Market Analyst.
*All homes in all price ranges - TREB Data Nov 5, 2019
Myth: If you're a lot like most people you have been conditioned to believe that listing and selling your home in November and December is not a good time. FACT is that homes sold during this period typically outperform results in January, February, and March.
*All homes in all price ranges - TREB Data Nov 5, 2019
Say you have identified the characteristics of the perfect home and established a budget for your search. Ideally, you want to find that home within that price range. But, what if you come across a property for sale that is perfect in almost every way - except its over-the-budget price?
Do you walk away? That depends on a number of factors:
I can help you find the answers to many of these questions and guide you through the process respecting your timelines and financial goals.
Call me to set up a time to have a confidential conversation.
Jamie
Yonge & Eglinton - Area C10 Freehold Detached
31 Active
15 Sold
12
$1,857,333
99%
Yonge & Eglinton - Area C10 Freehold Semi-Detached
15 Active
9 Sold
12
$1,403,889
108%
Yonge & Eglinton - Area C10 Condominiums
127 Active
47 Sold
21
$763,723
100%
See My 8-Steps Process For Buyers
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