October Sales and New Listings Rise
GTA REALTORS® Report Mid-Month Resale Housing Market Figures
Greater Toronto REALTORS® reported 3,379 transactions through the TorontoMLS® during the first two weeks of November. This result represented more than a 13% increase compared to November 2010. New listings were up 16% over the same period.
“The results for the first two weeks of November point to two important facts: First, despite global economic uncertainty, buyers have remained confident in the affordable housing market in the GTA. Second, stronger growth in new listings means that it is becoming easier for buyers to find a home that meets their needs,” said Toronto Real Estate Board President Richard Silver.
The average selling price through the first 14 days of November was $481,548 – up by 10% compared to the average of $437,510 reported for the first two weeks of November 2010.
“Little or no movement is expected for mortgage rates through 2012. Low rates coupled with the consensus outlook for continued economic growth next year suggests that homes will remain affordable in the GTA and households will remain confident in doing deals. Look for the average selling price to advance to the $485,000 mark next year,” said Jason Mercer, the Toronto Real Estate Board’s Senior Manager of Market Analysis.
City of Toronto (“416″)
2011 Sales: 1,424 | Average Price: $526,540
2010 Sales: 1,288 | Average Price: $487,699
Rest of GTA (“905″)
2011 Sales: 1,955 | Average Price: $448,777
2010 Sales: 1,694 | Average Price: $399,350
2011 Sales: 3,379 | Average Price: $481,548
2010 Sales: 2,982 | Average Price: $437,510
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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