Sales were up fractionally for September compared to last year with 8,200 houses and condominiums changing hands in all the districts. This was the best September on record, just barely beating out 8,196 sales back in 2009! Sales are actually up 26% above the last 15-year average.
Condo townhouse and high-rise suites took a 32.3% share of the market with 2,649 units being sold. This was the 2nd highest number of condo sales ever for the month of September.
The September average sale price for all GTA homes came in at $627,395– up 9.2% from 2014.
The active listing inventory is one of the strongest indicators of how smooth or outrageous the market is going to be. We had a 16.6% decline in inventory for the month of September compared to historical numbers and lower by 7.3 % from last year at this time.
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in. 24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
In September that ratio finished at 46.2% - up 4% from last year’s result and moderated significantly from the spring market. We’ve now dropped back into ‘busy’ seller market territory!
The days-on-market average for Toronto homes was 22.
Watch the video to get the complete September Market Report details.
Here's the complete text version of the September Toronto Real Estate Market Report to read.