Video Blog - July 2019 Toronto Market Update With Michael Duggal
Wednesday Jul 10th, 2019Share
During this video, Michael will provide you with an in-depth analysis of our current real estate market here in the GTA. The overall average selling price in June 2019 was $832,703. This number is up by three per cent compared to the average of $808,066 in June 2018. Price growth was driven by the higher density market segments, including semi-detached houses, townhouses and condominium apartments. The MLS® Home Price Index Composite Benchmark was up by a similar annual rate of 3.6 per cent. For the first half of 2019, the average selling price was $810,661, which represents an increase of of 2.4 per cent compared to the first half of 2018. It was clear that buyers started moving off the sidelines during the Spring, which is evidenced by the year over year price growth in the second quarter. However… since we saw virtually no change in the number of new listings, market conditions tightened and price growth has picked up, especially for high density home types (condo, townhouse, semi-detached), which on average, are far less expensive than your traditional detached home.