2018 price growth strongest for less expensive home types
A total of 77,426 residential transactions flowed through the TREB MLS in 2018 with an overall average selling price of $787,300 for all home types combined in the TREB market area that includes both the 416 and 905 areas. These numbers compared to 2017 translate into declines of 16.1 percent in sales and 4.3 percent in price. Despite overall declines, the condo market segment in both the 416 and 905 bucked the trend with average sales up by 7.8 percent and average prices up by just over 8 percent year over year. The volume of sales and positive price increases of this home type reflects a move of GTA home buyers in 2018 to more affordable homeownership options.