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In The Green

October 11, 2017

September 2017 -  In the Green - The New Street Resale Real Estate Report for The Greater Toronto and Hamilton Region

September was the first month since May of this year, where we saw the average price in both the Toronto and Hamilton-Burlington MLS boards - in the green - for both the monthly and annual comparisons. In the TREB MLS® System, the average price of a home was up about 6% from August of this year yet only 2.6% up when compared to the heated market of September 2016. In the Realtors Association of Hamilton & Burlington MLS® System, the average home price remained stable from last month and was up a healthy 7.2% from last year.

GTA & Hamilton Home Prices - Last 12 Months

September 2017 Real Estate Stats - LAST 12 MONTHS AVERAGE SALES PRICE1,2

The market got well-supplied in September. New listings entered into TREB's MLS® System, was at 16,469 in September, an increase 9.4% year-over-year and a whopping 42.9% jump from August, the month before. Hamilton saw a similar trend in new listings as homeowners who have been holding off on listing their home most likely due to market conditions, decided to move ahead in the fourth quarter.

GTA & Hamilton Homes Sales Stats – September 2017

HOME SALES STATS - SEPTEMBER 20171,2

 

TREB's MLS® System Stats: Condos in the GTA, predominantly in Toronto,  continue to outperform all other home types year over year, with the average price of a condo jumping over 23% in September. Interestingly, the average detached home price is basically exactly where it was last year with semi's and towns up by about 7%.

 

GTA Sales & Average Price by Home Type -  September 2017

SALES & AVERAGE PRICE BY HOME TYPE - SEPTEMBER 20171

RAHB's MLS® System Stats: The Hamilton & Burlington saw a bit of hit in the average condo price from last month but still up by over 7% from last year, with freehold homes performing similarly year over year. A healthy increase in prices yet the number of sales remains low, dipping over 20% from last year.

Hamilton & Burlington Sales & Average Price by Home Type - September 2017

SALES & AVERAGE PRICE BY HOME TYPE - SEPTEMBER 20172

Burlington, Dundas and Stoney Creek saw the healthiest increases in average price in September, all in the double-digits and all in the green. All communities other then Flamborough with low sales volume, were up from the previous year.

Hamilton & Burlington Prices & Sales by Community - September 2017

Hamilton-Burlington Resale Stats by Product Type & Community  

In the GTA; Halton Hills took a month-over-month dip after a strong average price jump in August. Average home prices in the York Region showed a positive comeback with Aurora's average price jumping by over 22% from the previous month and Vaughan also up by 9%. The rest of the GTA was stable and healthy with Toronto, in the green across the board.

GTA Prices & Sales by Community - September 2017

Sept2017-GTA Sales by Product Type & Community 2

The ample supply of homes on the market recently is giving buyers the options and time to make the right decision but with prices steadily on the rise it seems sellers aren't budging much on the value and appreciation of their properties.  

Opinions are my own and should not be taken as advice. Data Compiled by New Street from TREB (Toronto Real Estate Board) and RAHB (Realtors Association of Hamilton-Burlington). In association with Right at Home Realty Inc., Brokerage, 5111 New Street, Burlington, ON L7L 1V2. The information here is deemed reliable but not guaranteed by New Street, TREB or RAHB. Not intended to solicit listed properties or buyers under agency agreements.

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