November 5, 2019 / 10:03 AM / a month ago

TABLE-Toronto home sales, prices rise in October

    Nov 5 (Reuters) - Toronto's housing market tightened in October with fewer
new listings than a year earlier despite an increase in sales, the Toronto Real
Estate Board (TREB) said on Tuesday.
    Total home sales rose by 14% to 8,491 from the 7,448 sales seen a year
earlier, while listings fell by 9.6%. The average home price increased to
C$852,142 ($648,115.30). 
    Supply issues, the board said in release, are persistent across all types of
housing, with a strong regional economy fueling population growth and causing
more households to need a place to live.
    "While the current pace of price growth remains moderate, we will likely see
stronger price growth moving forward if sales growth continues to outpace
listings growth, leading to more competition between home buyers," said Jason
Mercer, TREB's chief market analyst.
    The following are details on Toronto home sales and prices in October,
released by the Toronto Real Estate Board on Nov. 5.    
    
                  OCTOBER      SEPTEMBER    OCTOBER 2018  YR/YR PCT CHANGE
 TOTAL SALES    8,491        7,825          7,448         14%
                                                          
 AVERAGE PRICE  C$852,142    C$843,115      C$807,538     5.5%
 NEW LISTINGS   13,050       15,611         14,435        -9.6%
 After preliminary seasonal adjustment
                 OCTOBER      MTH/MTH PCT CHANGE
 SALES          7,645       -2.9%
 AVERAGE PRICE  C$838,215   0.1%
 Sales by type of property
                         OCTOBER       YR/YR PCT CHANGE
 DETACHED           3,960              19.6%
 SEMI-DETACHED      813                5.9%
 TOWNHOUSE          1,395              21.3%
 CONDO APARTMENT    2,219              5.1%
 

($1 = 1.3148 Canadian dollars)

 (Reporting by Kelsey Johnson in Ottawa; Editing by Cynthia Osterman)
  
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