OTTAWA, Sept 5 (Reuters) - Toronto's housing market tightened in August, 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 climbed 13.4% from a year earlier, while listings fell by 3%. The average home price rose by 3.6%.
"Our housing supply has not kept up with population growth, which has led to pent-up housing demand," TREB Chief Executive John DiMichele said in a release.
Condominiums led in price growth, the real estate board said, followed by higher density low rise home types and finally detached houses.
The following are details on Toronto home sales and prices in August, released by the Toronto Real Estate Board on Sept. 5, 2019.
AUGUST
AUGUST 2018 YR/YR PCT CHANGE TOTAL SALES
7,711
8,595
6,797
13.4%
AVERAGE PRICE C$792,611
C$806,755
C$765,252
3.6% NEW LISTINGS 11,789
14,393
12,158
-3.0% After preliminary seasonal adjustment
AUGUST
MTH/MTH PCT CHANGE SALES
7,903
0.8% AVERAGE PRICE C$826,789 0.2% Sales by type of property
AUGUST
YR/YR PCT CHANGE DETACHED
3,618
21.3% SEMI-DETACHED
11.8% TOWNHOUSE
1,292
13.7% CONDO APARTMENT
2,067