Oct 05, 2021
By Jane Brown
If you have adult children in the market for a new home in Toronto, they have far fewer listings to consider.
The latest report from the Toronto Regional Real Estate Board says the market kicked off the fall selling season with an 18.3 per cent increase in homes sold in September but with a 34 per cent drop in new listings.
The Ontario board says 11,033 homes changed hands in the region last month, up from 9,046 last September.
The uptick in sales is typical when autumn arrives, but the board says this year’s spike was the third-highest on record for September.
Average prices were up again, 18 per cent this time, to more than $1.1 million from September of last year to $960,613 dollars from September of this year.
The board says new listings for the month amounted to 13,483, down from 20,441 last September.
Active listings also experienced a steep fall as they dropped almost 50 per cent to 9,191 from 18,167 in September 2020.