"In a region where the economy remains strong and the population continues to grow, ownership housing remains a solid long term investment", said Mr. Garry Bhaura, president of the Toronto Real Estate Board.

According to the TREB president's announcement at the beginning of this month, the number of sales through the MLS system in August 2018 saw an 8.5% increase compared with the same period last year. Both the average selling price, at $765,270, and the MLS® Home Price Index Composite Benchmark for August 2018 were up compared to the same month in 2017, by 4.7 per cent and 1.5 per cent respectively. The average selling price increased by more than the MLS® HPI Composite due, at least in part, to a change in the mix of sales compared to last year. Detached home sales were up by double digits on a year-over-year percentage basis – substantially more than many other less-expensive home types. 






Many home buyers who were waiting on the side lines to see where the market was going, have returned to their searches for homes and are getting deals done.
For a more in-depth overview of the Toronto housing market click here.

The fall market is here and there are many people ou there wondering if this is a good time to buy or sell a home. In my opinion, September is great for both buyers and sellers.
Take a look at the graphic below:



If you are thinking of selling your home, September is a good time to get on the market as many buyers are hoping to secure a new home before winter. Nobody wants to move homes on a snowy day...

Looking at the graphic above, the average selling price of homes was historically trending up over the months of September and October, compared with July and August. Considering it takes an average of 27 days on the market for a property to sell, chances are you will be selling at the peak of the fall market.

When it comes to buyers, since many home owners were trying to avoid the slower summer market, more homes are expected to come up for sale this month. That means more inventory to choose from and less competition, while prices are still at the bottom of the fall market this month.

Happy market watching and if you are planning on moving homes any time soon or would like to discuss the market further, please don't hesitate to give me a call. I'd be happy to help you make an informed decision. 
647-261-1405.