The average home price was $433,649 in September according to CREA. This was up 0.1% from August and is a year-over-year increase of 6.1%. Large price gains continue to be concentrated in the Greater Toronto and Vancouver areas, while most other markets posted more moderate price increases. In fact, excluding Toronto and Vancouver, the average price increased only 2.9% year over year in September.
41,879 homes sold in September according to seasonally adjusted data released by The Canadian Real Estate Association. This is a decline of 2.1% from last month and an increase of just 0.6% from last year.
A seasonally adjusted 73,772 homes came on the market in September; a decline from the previous month, but with the corresponding decrease in sales, the sales-to-new-listings ratio held steady at 56.8%.
The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.