GTA Market Stats for September 2016

11 October 2016
Life and the City

The September 2016 GTA housing market saw a 21.5% increase in home sales compared to September of 2015. For the region as a whole, strong annual rates of sales growth were experienced for all major home types. The pace of detached sales growth was slower in Toronto and the number of semi-detached sales was down compared to last year.  In both cases, the year-over-year dip in new listings was likely the issue.

“We continued to see strong demand for ownership housing up against a short supply of listings in the Greater Toronto Area in September.  The sustained lack of inventory in many neighbourhoods across the GTA continued to underpin high rates of price growth for all home types,” said Toronto Real Estate Board President Larry Cerqua.

The average home price across the GTA in September was $755,755, up from $627,867 a year ago (that includes condos). In Toronto, the average price was $764,872 compared to $750,549 in the 905 communities - toronto's detached homes specifically, averaged $1.3 million last month. The average condo price across the region was $422,002, with city apartments selling for $334,294 on average, about $80,000 more than units in the regions outside Toronto.

New mortgage rules, set to go into effect on October 17th, may put a damper on these impressive stats but it remains to be seen how quickly this affect will be noticed and to what degree. In the meantime, take a look at the infographics below to discover overall market stats, as well as stats for districts throughout the GTA, and watch the video at the bottom of this post for even more insight. This interactive map identifies the area that each district covers. Feel free to reach out to us if you have any questions regarding these stats, or if you want to learn more about current stats in your own neighbourhood!

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All Districts

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Downtown Condos

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North-Central Districts

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South-Central Districts

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East Districts

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York Districts

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Watch RE/MAX Hallmark's September 2016 Toronto Market Report: