WONDERFUL NEWS!! October market news is out!
It is now the 5th month in a row that we have seen both price and sales volume increase.
Months of inventory, has notably gone down, which is a leading indicator that prices will be rising.
Greater Toronto Area REALTORS reported 7,492 sales through TREB's MLS System in October 2018
That is a 6 % increase compared to October 2017.
On a preliminary seasonally adjusted basis, sales were down by 1% compared to September 2018.
CITY OF MISSISSAUGA
The average sale price for October 2018 was up 3.5 % on a year-over-year basis to $807,340.
Price growth continued to be driven be the condominium apartment and higher density low-rise market segments.
CITY OF OAKVILLE
There were 14,431 new Listings entered into TREB's MLS® System in October 2018
This was down by 2.7 % compared to October 2017.
The fact that sales were up and new listings were down year-over-year in October suggests that market conditions became tighter.