According to the Canadian Real Estate Association, home sales reported through national MLS systems in September 2019 increased 15.5% year-over-year, and came in 18% above the six-year low hit in February 2019.
The Greater Toronto Area’s resale condo market is going strong according to the latest quarterly findings from the Toronto Real Estate Board, but there are some areas where average prices are falling.
According to the survey results, newcomers account for 21% of all homebuyers in Canada. If the international migration level remains the same, newcomers are expected to buy 680,000 homes in Canada over the next five years.
With a busy summer behind us, it looks like the Greater Toronto Area’s luxury home market is poised for a strong fall, according to Sotheby’s International Realty Canada’s latest Top-Tier Real Estate report.
In August 2019, national home sales increased for the sixth month in a row, coming in 17% higher than the six-year low hit in February 2019. On a year-over-year basis, national sales jumped 5%, with significant activity in the Greater Toronto Area.