2007 already record MLS year in 2 cities
With weeks remaining, 2007 has already become the best year on record for real estate sales in Toronto and in Winnipeg.
“So far this year, 84,994 properties have changed hands, as compared with 84,145 sales in 2005, our previous best year,” says the President of the Toronto Real Estate Board, Maureen O’Neill. With 3,544 transactions reported by the Toronto Real Estate Board to mid-month, November sales are also up 5%, compared with the same period last year.
The current average price is $393,084, a 9% increase over the first half of November, 2006. The year-to-date average price stands at $374,678, up 6% over the $352,807 recorded during the first 11½ months of 2006.
The Winnipeg REALTORS® Association reports that MLS® sales surpassed the 2 billion dollar mark for the first time in the 104 year history of the Board. That mark was set on November 2nd.
“To indicate how active October 2007 was, the equivalent of 87% of the listings that were entered on the MLS® that month sold. 57% of the entire MLS® inventory turned over as well says the President of the Winnipeg REALTORS® Association, Wes Schollenberg.
“Houses in Winnipeg this year are selling on average for 4% above their list price. October’s $200 million plus sales activity made it the sixth month with more than $200 million in MLS® sales. Last year we only had two months like that, and there were none in 2005″ Schollenberg added.
Another important factor in Winnipeg’s record-setting year is the significant increase in condominium sales. In October, condo sales reported through the Winnipeg MLS® were nearly double the number for the same month last year.
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