Each month, the Toronto Real Estate Board releases a report on the state of the housing market in the Greater Toronto Area. Here are the stats you need to know from the October edition, which covers sale activity in September.
The increase in the average price of a home in the Greater Toronto Area, compared to September 2017. This covers all housing types.
But this is what the year-over-year average price change looks like when only detached homes are taken into consideration. For detached homes—the most expensive category of housing, generally speaking—prices actually declined, on average.
And here’s the year-over-year average price change for detached homes only within the city of Toronto, excluding the rest of the GTA. It’s important to note that these averages aren’t a perfect measure of the health of the market, because (particularly in Toronto) they include some outlier properties with very high list prices.
The year-over-year increase in the benchmark price of a detached home in the city of Toronto. (The benchmark price is an adjusted average that attempts to control for outliers.)
The increase in the average price of a condo apartment in the city of Toronto, compared to September 2017. In terms of year-over-year average price gains, condos continue to outperform other housing types.
The number of homes reported sold in the Greater Toronto Area in September, a 1.9 per cent increase over September 2017. The Toronto Real Estate Board says this uptick is evidence that the market is “healthy.”
The number of homes reported sold in the Greater Toronto Area in September 2016, near the height of that year’s buying frenzy.