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

GTA
2011 Sales: 3,379 | Aver­age Price: $481,548
2010 Sales: 2,982 | Aver­age Price: $437,510

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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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