Real Estate Market News January 2019 - TREB
Friday Feb 08th, 2019Share
Toronto - The Latest Toronto Real Estate Board's MLS Data for the month of January 2019 was Posted by TREB in the Greater Toronto Area on 6 February 2019. The month of January has shown a slight uptick in Number of Sales, total 4009 sales were reported in January 2019 - up by 0.6 per cent compared to January 2018. And also on a seasonally adjusted basis the sales were up by 3.4 per cent compared to December 2018.
As previously stated by Toronto Real Estate Board, the year of 2019 will see an increase in number of sales year over year from 2018. The slight increase in January is encouraging, even with the extreme weather conditions experienced in the GTA region. This is in line with the TREB's forecast for the year 2019.
The number of New listings taken were also up by 10.5 per cent year over year and rose to 9456 for January, meaning that more people have put their homes in the market for sale. The average selling price inched upwards by 1.7 per cent.
The market conditions in January as seen in a ratio of sales and listings, has continued to support moderate year-over-year increases, regardless of the price range considered.
On a Conclusive note these numbers mean that the Spring Market of 2019 will be seeing a boost in sales and prices as happens on seasonal basis every year. With the discussions happening around easing mortgage restrictions, and some banks scaling back intreset rates for fixed rate mortgages and the improving weather will have a favourable impact on the Real Estate Market in GTA.
For finding out how this may have affected the price of your existing home or the home you are thinking of purchasing in 2019, contat me anytime at 416-220-6000.
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