Condo Sales Report
Average Condo Price Continues to Climb in Q3 '18
TORONTO, October 18, 2018 – Toronto Real Estate Board President Garry Bhaura announced that the average selling price for condominium apartments reported sold by Greater Toronto Area REALTORS® through TREB’s MLS ® System in the third quarter of 2018 was up by 8.4 per cent year-over-year to $552,269. The MLS® Home Price Index (HPI) Apartment Benchmark Price was up by 10.1 per cent year-over-year to $506,300 in September 2018. The highest average condominium apartment selling price was in the City of Toronto, at $594, 039. This result was up 9.7% compared to Q3 2017. The MLS® HPI Apartment Benchmark Price for the City of Toronto was up by 11.5 per cent year-over-year to $535,600 in September 2018.
Total condominium apartment sales reported through TREB’s MLS® System amounted to 5,781 in Q3 2018 – up two per cent from 5,667 sales reported in Q3 2017. Conversely the number of new listings was down 2.1 per cent on a year-over-year basis. The combination of increasing sales and decreasing new listings year-over-year points to tighter market conditions, supporting the current strong annual rates of price growth.
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