October Newsletter
The trends that we have seen so far this year continue through the third quarter of 2018. Overall, across Toronto, freehold properties experienced a mild decline while condominiums prices continue to increase.
In the City of Toronto, the overall average price for detached and semi-detached homes have both decreased, year-to-date. The average number of days on market has increased from 15 in 2017 to 20 in 2018. This shows a shift in market activity and, in many cases, fewer multiple offer scenarios for buyers. In spite of this broad trend, demand neighbourhoods across the city continue to hold value, with detached and semi-detached homes experiencing modest price increases. Depending on the neighbourhood, freehold homes in the city are experiencing either a balanced or buyer’s market. If you’re in a condo, the seller’s market prevails.
If you’re not sure of the market conditions in your neighbourhood, please call, text or send a message. We would love to provide you with detailed information tailored to your home, and help you to take advantage of the market.
The average sale prices for homes sold in the third quarter of 2018, in the City of Toronto, as reported by TREB*, are:
| Average Selling Price |
Year Over Year Change |
| Jan – Sep 2018 |
Jan – Sep 2017 |
| Detached |
$ 1,333,576 |
$ 1,460,316 |
-8.7% |
| Semi-Detached |
$ 993,935 |
$ 1,013,947 |
-2.0% |
| Condo Townhouse |
$ 653,928 |
$ 626,283 |
+4.4% |
| Condo Apartment |
$ 591,604 |
$ 544,854 |
+8.6% |
*Source: Toronto Real Estate Board (TREB). City of Toronto from January through the end of September 2018.
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