The temperatures may have cooled down, but the Greater Toronto Area (GTA) real estate market continues to heat up, with home sales up over 25% compared to October 2019, marking the fourth month in a row of year-over-year growth, according to the latest data from the Toronto Regional Real Estate Board (TRREB). According to TRREB’s October housing market report, resale activity in the GTA is showing no signs of slowing down, after having another record-setting month, during which, a total of 10,563 sales were made — a 25.1% jump from the 8,445 sales recorded in the previous October.
The record-level sales were paired with record listings, with 17,802 recorded across the region compared to 13,053 in October of last year. However, despite the overall growth in listings, TRREB said the number of listings “diverged” in some markets, such as the detached home segment, where the pace of annual sales growth greatly outpaced listings. On the other hand, the condominium segment experienced over double the listings seen in October 2019, while sales only increased by 2.2% in the same period.
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