I just checked the September stats for the Toronto Real Estate Board. The market outperformed my estimates significantly. It’s crazy out there!
It was predicted that between 7,500 and 8,000 sales for the month about 2 weeks ago. September 2009 ended up being the highest September in history for number of sales reported to TREB with 8,185 sales.
Currently there are only 15,272 homes for sale. Inventory levels have been getting critically low for months now. Well, typically the inventory numbers start to rise in the fall and I was fully expecting that to happen. They have actually DECREASED from August to September. That’s unheard of!
To put things into perspective, there were 27% more sales this September than in Sept 2008 and there are 44% fewer homes for sale this September than
there were Sept 2008. It’s hotter right now than it’s ever been in Toronto … the market that is!
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