• Toronto's housing market tightened in September, with fewer new listings than a year earlier despite an increase in sales.
  • Total home sales rose 22pc to 7,825 from the 6,414 sales seen a year earlier

Toronto's housing market tightened in September, with fewer new listings than a year earlier despite an increase in sales, the Toronto Real Estate Board (TREB) said on Thursday.

Total home sales rose 22pc to 7,825 from the 6,414 sales seen a year earlier. However, that figure remains well below the September 2016 record of more than 9,800 sales, the board said.

Listings fell by 1.9pc, while the average home price was C$843,115 ($632,636.75)

Market conditions for detached homes, the board said in a release, have tightened over the past year, adding many intending home buyers are still focused on ground-oriented housing.

“This points to the need for a greater diversity of housing types to bridge the gap between detached houses and condominium apartments," said Jason Mercer, TREB's chief market analyst.

The following are details on Toronto home sales and prices in September, released by the Toronto Real Estate Board on Oct. 3, 2019.