Toronto Market Remains Strong in October

The fall market continued to be very healthy in October, with sales of all property types up by 12% over September while prices remained steady. The relative strength of the condominium apartment sector relative to freehold properties continued last month: condo prices were slightly higher than in September and about 20% higher than last year, while freehold prices were slightly lower than both last month and last year. Overall it seems that the ‘correction’ is over and prices have stabilized — though a return to double digit price increases is very unlikely.

Prices_Freehold_October_2017

Prices_Condo_October_2017

The inventory of homes for sale also remained steady in October at just under 3 months’ supply, more evidence of a strong market just slightly tilted to the ‘sellers’ market’ side of balanced. A ‘Goldilocks’ market, neither too hot nor too cold. Let’s hope it persists.

Inventory_October_2017