The Toronto Real Estate Board October stats are in. 7,492 single family homes including condominium townhouses and apartments were sold through the Board's MLS system. This number is 6% higher compared to the 7,069 sales in October 2017 and 16% higher than the 6,455 sales in September 2018.

The average price of a single family home in the G.T.A. is now $789,181 down 4.1% from 2017's average price of $822,572.

The stats are for the entire GTA, which covers from Burlington to Clarington, from Lake Ontario to Lake Scugog.

“Annual sales growth has outstripped annual growth in new listings for the last five months, underpinning the fact that listings supply remains an issue in the Greater Toronto Area. With municipal elections in the rear view mirror, all levels of government need to concentrate on policies that could remove impediments to a better-supplied housing market, including facilitating the development of a broader array of medium density housing choices,” said Jason Mercer, TREB’s Director of Market Analysis.

We track MLS sales on a daily basis. From November 2016 to May 30th 2017, 10% of the sales in C01-C04, C08-C12, E01-E03, W01, W02 sold for asking price or under. In October the sales were 40-65% for asking or under. The districts noted cover roughly the area from the Lake to York Mills, and from the Humber River to Victoria Park.

The 2018 residential resale market has been and is a story of different markets that vary by housing type and location.

In central Toronto the limited supply and strong demand, meant bidding wars and "bully offers" for well priced or under priced properties in both freehold and condominium segments. The resale market in the 905 region, where the average price has remained flat since October 2017. And the 905 market is a soft market compared to the central Toronto one.

Alan Carson of Carson/Dunlop Home Inspections explains that thermal imaging inspections to detect leakage and mold sometimes result in false positives. His inspectors always follow up with actual moisture meter readings. He also said that it was important that the equipment used met national set standards.