Our September real estate market got off to a slow start sales-wise with numbers about the same as August. Listing inventory was down compared to last year which definitely played a part.
In this month’s report, I’m showing an interesting chart displaying the price range breakdown where homes of all types are selling. Detached homes make up just over 46% of sales while condo apartments make up another 26.5%.
If you look at the numbers, there are still some houses and condos available at lower prices than the average numbers for each home type.
If you’ve been a long-time reader of my monthly newsletters, you’ll have noticed that I’ve written several books to help buyers, sellers and investors make the best real estate decisions. All of these are free for you to download as a PDF or get a paperback copy.
One book that’s designed to help investors is my expert Guide To Attracting The Best Tenants which helps owners to avoid tenant selection mistakes. A second is entitled Best Capital Gains Tax Advice to help an investor avoid overpaying good old CRA after the sale is completed.
I’ve written others focused on helping Toronto condo or house buyers and separate ones for condo and house sellers. You can find them here.
My comprehensive September Toronto Real Estate Market Report is now ready and here’s the link so you can watch the video or read the report.
Please remember to keep me in mind when any of your friends are talking about buying or selling their condo or house in Toronto.
Have a fantastic October and Thanksgiving :)
Fall Market Delivered Improved Appreciation [VIDEO]
In September sales were up 22% compared to last year with 7,825 houses and condominiums changing hands in all the districts.
Condo townhouse and high-rise suite sales were stable with a 34% share of the market and 2,661 units being sold which is a 16% increase from 2018.
The September average sale price for all GTA homes came in at $843,115 up 5.8% from one year ago. This average is now up 8.9% from the average market high 2 years ago back in September 2017.
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving. The inventory average for the month of September compared to historical numbers was lower by 14% compared to last year at this time.
This is actually a good sign since we’re not being overwhelmed with high inventory levels and is probably keeping us from seeing a price appreciation slowdown in some GTA locations.
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 45.4% - almost 15% above last year and slightly below August of this year – indicating a continuing strong, steady market as we start to move through the fall market.
The days-on-market average for GTA / Toronto homes was 23 days, 2 days faster than August.
Watch the video to get the complete September 2019 Market Report details.
If you'd prefer to read the full market report details, click here.
For Those Of You Who Like Trivia...
Now and then we post our latest World’s Most Interesting Postcard in our Team newsletter. You might be amazed at what you’ll learn from these interesting tidbits!!
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Keep Your Ears Open For Real Estate Conversations...
People always feel good about recommending a person or a business where they've received terrific service. They want their friends to enjoy the same great experience they had.
Please keep us in mind throughout 2019 whenever you hear friends talk about real estate at any time... we're always here to advise, consult and help.
Amazing Free Services Available From This Professional Realtor
As a successful Toronto Realtor helping condo and house buyers and sellers since 1980, I've developed many programs and services to assist people with their real estate needs.
I've even written several soft-cover books and reports to help explain how buyers and sellers can make their best, informed decisions.
There are important benefits and advantages to being well prepared for the upcoming real estate experience.
You definitely want to avoid making significant buying or selling mistakes.
Here's a list of my 'Free Stuff' that's available to you.