06 Sep REAL ESTATE MARKET UPDATE: SEPTEMBER EDITION
7,711 home sales were reported through the Toronto Real Estate Board MLS in August 2019, representing a 13.4 per cent increase over August’s 2018 results. Detached home sales in the 905 area showed the most significant increase of all property types with a 24.5 per cent rise year-over-year. The federal government’s First-Time Home Buyer Incentive (FTHBI) that came into effect on September 2 may add further momentum, as the 905 area is anticipated to be a more likely beneficiary of the program than the 416 area. Total Active Listings continue to be an important part of the story with a drop of available inventory across the board of 11.16 per cent from last year. The 416 area had under 30 per cent of the 15,870 Active Listings reported by TREB for August, indicating that the 905 is heating up faster than the City.