January 2019 Report
The Toronto Real Estate Board (TREB) has just released the overall sales numbers for January 2019. There were 4,009 sales in January 2019, up 0.6% compared to January 2018.On a seasonally adjusted basis, sales were up 3.4% compared to December 2018. There was a total of 9,456 homes listed in January 2019, up 10.5% per cent year-over-year. The average selling price was $748,328. On a seasonally adjusted basis, the average selling price was down by 1.7% compared to December 2018.
TREB’s forecast for the year ahead predicts moderate increases in the average price and MLS System Sales on a year-over-year basis. I have observed in the first two months of this year, prices for income properties are holding steady, still primarily based on a lack of supply.