While sales in detached, semi-detached and town homes saw double-digit declines of between 11 and 18 per cent, condo sales soared nearly 34 per cent in Toronto and 20.5 per cent in the surrounding municipalities. So there’s more competition between people who wanted to purchase a home and that has sustained very strong price growth,” he said. “If you think of sales as a share of available listings, that’s been trending upwards. Last month’s 9,783 transactions fell 6.9 per cent or 720 sales below last year’s unprecedented 10,503.īut, for the fifth month in a row, the number of new listings declined on a year-over-year basis, dropping by about a third in October, said the real estate board’s chief market analyst, Jason Mercer.
It was also the second-highest October for home sales, the Toronto Regional Real Estate Board (TRREB) board said on Wednesday. October was another record-setting month for the Toronto region’s blazing real estate market as a continued scarcity of new listings helped push the average year-over-year selling price of a house or condo up 19.3 per cent to $1.16 million.
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