Here’s a snapshot summary of the significant real estate milestones for Toronto in October 2019… the highest average sale price so far in 2019!!

October sales up 13.8% compared to last year (8,491)
The ratio of sales-to-listings jumped up to 55.2% in October
The average sale price came in at $852,142– up a positive 5.5% compared to last year
Note that this overall market average # is the highest we’ve seen all year
The GTA real estate market overall averaged 23 days-on-market
Detached home sales in October 2019 with a purchase price over $2,000,000 were up 5.4% (213 houses) while condo apartment sales over $2M were up 108% (25 suites)
The CONDO share of the market was steady at 34% during the month
Downtown condo active listing numbers were down 3.1% in C01 and increased in C08 by 4.3% from last year at this time
October condo sales were up 2.5% in C01 and up in C08 by 14% compared to 2018
The downtown condo days-on-market average was 18-19 days – 4-5 days faster than the overall market
The ratio of sales-to-listings for condos downtown was somewhat matched in C01 (77%) and in C08 (67.1%) but both were still much higher than in the overall market (55.2%).
Building on this higher demand due to better affordability, condo appreciation in the two main downtown markets averaged 4.9% to 5.7% year-over-year… consistent with what we’ve been seeing all this year.
Sales numbers have now increased in many 905 neighbourhoods although appreciation percentages are lower across the board in the 905.
October is the mid-point of our fall market and we can typically expect sales numbers to slow as we go through November and close in on the Xmas holiday season.

*Source - Thomas Cook Remax Hallmark Realty Ltd., Brokerage