GTA REALTORS® Report Monthly Resale Housing Market Figures
Greater Toronto REALTORS reported 6,510 existing home sales in November – down 13% from 7,446 sales in November 2009. New listings were also down 13% annually to 8,642.
On a month-over-month basis, the seasonally adjusted annual rate of sales increased for the fourth straight month to 88,100. This rate was substantially higher than the July low of 67,900.
“The GTA resale market has tightened since the summer. Healthy market conditions continued to support growth in the average selling price,” said Toronto Real Estate Board President Bill Johnston.
“Sales through the first 11 months of the year were down only marginally compared to the same period in 2009. We remain on track for one of the best years on record under the current TREB market area,” continued Johnston.
The average selling price for November transactions was $438,030 – up 5% compared to November 2009.
“The average selling price in the GTA is affordable. A household earning the average income can comfortably cover the mortgage payments on an average priced home. Expect the average selling price to grow at a moderate pace over the next year,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.
Summary Of November Sales And Average Price
City of Toronto (“416″)
2010 Sales: 2,794 | Average Price $476,844
2010 Sales: 3,212 | Average Price $450,079
Rest of GTA (“905″)
2010 Sales: 3,716 | Average Price $408,846
2010 Sales: 4,234 | Average Price $394,474
2010 Sales: 6,510 | Average Price $438,030
2010 Sales: 7,446 | Average Price $418,460
Contact the Jeffrey Team for more information – 416−388−1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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