The average townhouse listing price for October 2018 was up 4.1 per cent on a year-over-year basis to $719,002. OSFI stress test and higher borrowing costs have kept sales below 2016’s record pace. There were 1,143 new Listings entered into TREB’s MLS® System in October 2018 – down 0.8 per cent compared to October 2017. The fact that sales were up and new listings were down year-over-year in October suggests that market conditions became tighter. Annual sales growth has surpassed annual growth in new listings for the last five months, reinforcing the fact that listings supply remains an issue in the Greater Toronto Area.
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