Loading articles...

Toronto real estate board says August home sales up 13.4% compared with year ago

New home construction takes place in a development in Oakville, Ont., west of Toronto, on Thursday, August 15, 2019. The Toronto Real Estate Board says home sales in the Greater Toronto Area in August were up 13.4 per cent compared with a year ago. THE CANADIAN PRESS/Nathan Denette

TORONTO — The Toronto Real Estate Board says home sales in the Greater Toronto Area in August were up 13.4 per cent compared with a year ago.

The board say there were 7,711 home sales through its MLS system in August, up from 6,797 sales reported in August 2018.

On a month-over-month basis, seasonally adjusted sales were up 0.8 per cent.

The increase in sales came as the MLS home price index composite benchmark for August rose 4.9 per cent on a year-over-year basis.

The average selling price was $792,611 in August, up 3.6 per cent compared with a year ago.

The board noted that market conditions were tighter in August compared with a year ago as overall active listings at the end of the month were down by more than 11 per cent compared with August 2018.

 

The Canadian Press