FANTASTIC NEWS! January market stats are out!!
The Greater Toronto Area REALTORS reported 4,009 home sales through TREB’s MLS in January 2019
up by 0.6 % compared to January 2018.
On a preliminary seasonally adjusted basis, Sales were up by 3.4 % compared to December 2018.
The MLS® HPI Composite Benchmark price was up by 2.7 % compared to January 2018.
Image – 1 (market update)
The condominium apartment market segment continued to lead the way in terms of price growth.
The average selling price was up by 1.7 % on a year-over-year basis.
After preliminary seasonal adjustment, the average selling price edged lower compared to December 2018.
CITY OF MISSISSAUGA
Given housing affordability concerns in the GTA, especially as it relates to mortgage qualification standards,
We have seen tighter market conditions and stronger price growth associated with higher density low-rise
home types and condominium apartments
which have lower average selling prices compared to single detached homes
The condominium apartment segment was the best-performing segment in terms of annual average rates of price growth in 2018
Condos represent a relatively affordable housing option
With a substantial decrease in listings in 2018, competition between intending buyers remained strong
This supported average price growth well-above the rate of inflation and annual rates of price growth reported for other ground-oriented home types
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