Toronto Real Estate Board August MLS sale statistics:

• GTA single family home sales including condo townhouses and apartments - 7,711.
• Volume - up 13.4%, compared to August 2018 6,797 sales.
• Volume - down 10.3% compared to July 2019 8,595 sales.
• Average price of a GTA single family home - $887,584.
• Up 2.5% from 2018's average price of $787,876.

“This year’s market through August has been characterized by receding listings and increasing sales relative to 2018. Competition between buyers has increased, which has led to stronger annual rates of price growth, most notably during this past spring and summer. Right now, the overall pace of price growth is moderate. However, if demand for ownership housing continues to increase relative to the supply of listings, the annual rate of price growth will accelerate further. This underpins the importance of solving this region’s housing supply issues, which will go a long way to insuring a sustainable pace of price growth over the long term,” said Jason Mercer, TREB’s Chief Market Analyst.

We track MLS sales daily.

• November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
• August 2019 40-75% of properties sold for asking or under.

The August residential resale market remains a story of different markets that vary by housing type and location.

• In central Toronto limited supply and strong demand, meant bidding wars and "bully offers" in both freehold and condos if the list price was reasonable.
• The 905 region remains a softer market.
• According to a Royal LePage August national release - Greater Toronto Area condo price per square foot increased 9.1% year over year to $743.
• Greater Ottawa condo price per square foot appreciated the fastest among Canada's largest markets, rising 17.9% year over year to $395.
• Greater Montreal Area condo prices per square foot rose 10.3% to $362.