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Toronto Real Estate Market Report

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Justine discusses the Toronto Housing Market on BNN

As of August 31, 2016, if no more properties came onto the Toronto housing market, it would only take just over a month to deplete the available supply. That’s according to a new report by Chestnut Park Real Estate. BNN speaks with a broker for the company, Justine Deluce.

 

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Toronto Real Estate Market Report

Sales volumes were up by over 13 percent compared to August 2018, while the average sale price increased by 3.6 percent, right in line with the increase in wages. In August wages for permanent employees in Canada increased by 3.8 percent year-over-year. Considering that sales volumes are still playing “catch-up” from 2016 and 2017 numbers, a 13 percent increase compared to last
year is modest.