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Bonds News

TABLE-Toronto home prices rise in September from August, listings drop

    Oct 5 (Reuters) - The average selling price of a home in the Greater Toronto
Area jumped in September from August, as the fall market picked up steam and a
lack of supply led to more competition from buyers for all types of housing, the
Toronto Regional Real Estate Board (TRREB) said on Tuesday.
    The average price of a resale home jumped 6.1% in September from August, and
was up 18.3% on the year. Sales rose slightly on a month-over-month basis, but
fell 18% on the year as new listings plunged 34% from a year ago.  
    "With new listings in September down by one third compared to last year,
purchasing a home for many is easier said than done. The lack of housing supply
and choice has reached a critical juncture," said Kevin Crigger, President of
TRREB, in a statement.
    The industry group noted that desirable detached and semi-detached homes,
along with low-rise townhomes, continue to drive price gains, though competition
between buyers for condos is picking up.          

                SEPTEMBER       AUGUST      SEPT 2020    YR/YR PCT CHANGE
 TOTAL SALES    9,046        8,596         11,033        -18.0%
                                                         
 AVERAGE PRICE  C$1,136,280  C$1,070,911   C$960,613      18.3%
 NEW LISTINGS   13,483       10,609        20,441        -34.0%
 After preliminary seasonal adjustment
                 SEPTEMBER      MTH/MTH PCT CHANGE
 SALES          8,712         0.7%
 AVERAGE PRICE  C$1,123,277   1.8%
 Sales by type of property
                        SEPTEMBER      YR/YR PCT CHANGE
 DETACHED           3,908              -29.3%
 SEMI-DETACHED        824              -27.5%
 TOWNHOUSE          1,558              -17.6%
 CONDO APARTMENT    2,664               13.0%
    
 Average price by type of property
                         AUGUST        YR/YR PCT CHANGE
 DETACHED           C$1,526,465         28.9%
 SEMI-DETACHED      C$1,114,696         20.8%
 TOWNHOUSE          C$  909,226         21.5%
 CONDO APARTMENT    C$  708,521         11.6%
 
 (Reporting by Julie Gordon in Ottawa; Editing by Sandra Maler)
  
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