Greater Toronto REALTORS® reported 7,092 res­i­den­tial trans­ac­tions through the Toron­toMLS® sys­tem in Novem­ber – up 11% in com­par­i­son to Novem­ber 2010. At the same time, the num­ber of new list­ings was up by 14% in com­par­i­son to last year.

“We have seen strong annual sales growth through the 2011 fall mar­ket. The increase in trans­ac­tions has been broad-based, with strong growth across low-rise and high-rise home types through­out the Greater Toronto Area,” said Toronto Real Estate Board (TREB) Pres­i­dent Richard Sil­ver. “The mar­ket has also become bet­ter sup­plied, with annual new list­ings growth out­strip­ping that of sales. As this trend con­tin­ues into 2012, we will see more bal­anced mar­ket conditions.”

The aver­age price for Novem­ber trans­ac­tions was $480,421, rep­re­sent­ing an increase of almost 10 per cent in com­par­i­son to $437,494 in Novem­ber 2010.

“Despite strong price growth this year, the hous­ing mar­ket remains afford­able in the GTA,” said Jason Mer­cer, TREB’s Senior Man­ager of Mar­ket Analy­sis. “The cor­rect method of assess­ing afford­abil­ity is to con­sider the share of the aver­age household’s income that is ded­i­cated to mort­gage prin­ci­pal and inter­est, prop­erty taxes and util­i­ties. Cur­rently, this share remains in line with gen­er­ally accepted lend­ing guide­lines. Given this pos­i­tive afford­abil­ity pic­ture, aver­age price growth is fore­cast to con­tinue in 2012, albeit at a more mod­er­ate pace.”

City of Toronto (“416″)
2011 Sales: 3,027 | Aver­age Price: $524,805
2010 Sales: 2,742 | Aver­age Price: $477,092

Rest of GTA (“905″)
2011 Sales: 4,065 | Aver­age Price: $447,371
2010 Sales: 3,642 | Aver­age Price: $407,682

GTA
2011 Sales: 7,092 | Aver­age Price: $480,421
2010 Sales: 6,384 | Aver­age Price: $437,494

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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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