Nov 5 (Reuters) - Toronto's housing market tightened in October with fewer new listings than a year earlier despite an increase in sales, the Toronto Real Estate Board (TREB) said on Tuesday. Total home sales rose by 14% to 8,491 from the 7,448 sales seen a year earlier, while listings fell by 9.6%. The average home price increased to C$852,142 ($648,115.30). Supply issues, the board said in release, are persistent across all types of housing, with a strong regional economy fueling population growth and causing more households to need a place to live. "While the current pace of price growth remains moderate, we will likely see stronger price growth moving forward if sales growth continues to outpace listings growth, leading to more competition between home buyers," said Jason Mercer, TREB's chief market analyst. The following are details on Toronto home sales and prices in October, released by the Toronto Real Estate Board on Nov. 5. OCTOBER SEPTEMBER OCTOBER 2018 YR/YR PCT CHANGE TOTAL SALES 8,491 7,825 7,448 14% AVERAGE PRICE C$852,142 C$843,115 C$807,538 5.5% NEW LISTINGS 13,050 15,611 14,435 -9.6% After preliminary seasonal adjustment OCTOBER MTH/MTH PCT CHANGE SALES 7,645 -2.9% AVERAGE PRICE C$838,215 0.1% Sales by type of property OCTOBER YR/YR PCT CHANGE DETACHED 3,960 19.6% SEMI-DETACHED 813 5.9% TOWNHOUSE 1,395 21.3% CONDO APARTMENT 2,219 5.1% ($1 = 1.3148 Canadian dollars) (Reporting by Kelsey Johnson in Ottawa; Editing by Cynthia Osterman)
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