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TABLE-Toronto home sales, prices rise in August as listings fall

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 JULY AUGUST 2018 YR/YR PCT CHANGETOTAL 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 CHANGESALES 7,903 0.8%AVERAGE PRICE C$826,789 0.2%

Sales by type of property

AUGUST YR/YR PCT CHANGEDETACHED 3,618 21.3%SEMI-DETACHED 642 11.8%TOWNHOUSE 1,292 13.7%CONDO APARTMENT 2,067 4.0%

(Reporting by Kelsey Johnson in Ottawa; Editing by Nichola Saminather; Editing by Richard Chang)

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