GTA Real Estate Market Watch - September 2019.
Published October 3rd, 2019
Here's what happened in the GTA Real Estate Market last month September 2019
Price comparison to September 2018 (last year)
- Detached properties increased by 4.1%
- Semi-Detached properties increased by 5.1%
- Townhome properties increased by 6.8%
- Condo Apartments increased by 4.2%
I had predicted that there would be an increase in the September market and voila! I was right! Some solid growth month-over-month as well for September transactions.
In comparison to August 2019, the average price resulted as such:
- Detached properties had a strong rise of 6.8%
- Semi-Detached properties had a strong rise of 7.9%
- Townhome properties had a strong rise of 5.6%
- Condo Apartments had a decent rise of 3.4%
I feel that the lacklustre First Time Home Buyer Incentive for the GTA market didn’t have an impact on September, considering the low incentives. The affect of the Canadian Elections which are on October 20th will be interesting, seeing that some of the platforms are promising an injection into affordable housing. Some “promises” include increasing the First Time Home Buyer incentive in the GTA market to $789,000, as well as revisiting the mortgage stress test & the creation of 500,000 units of affordable housing throughout Canada.
This uptrend should continue, as long as there are no sudden anomalies, through October based on my observations of the market for about a decade. I am predicting a solid October with steady growth continuing from September, until November. IF YOU WERE THINKING OF SELLING BEFORE THE END OF 2019 – DO NOT MISS THE OCTOBER MARKET!! LIST NOW!!
Please note that these are overall GTA stats & trends, which do apply to the regions of York, Durham, Peel & Toronto - however, if you'd like specific information regarding a particular region or city, please let me know and I can provide more precise statistics and information.
October's Market Watch to be released in early November - catch you then!
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