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Toronto Home Sales Up 13%
Greater Toronto Realtors reported 3,379 transactions through the TorontoMLS® during the first two weeks of November. This result represented more than a 13 per cent increase compared to November 2010. New listings were up 16 per cent 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 per cent 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
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November 16, 2011 in Toronto Real Estate Board | Permalink
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Comments
I agree that this is fantastic news. It's amazing that the average selling price through the first 14 days of November was $481,548!
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Posted by: Final expense | Dec 15, 2011 12:06:27 PM
This article stated the fact that besides on the rapid increase of poverty in other part of the countries, still, people choose to have better homes for living and some are still reaching out for their satisfactions. Many businessman, employees and other celebrities are fun and love to own condo units, staff houses, and residence homes just to meet their needs and to bring the life that they want due also with the change of generation. So many realtors today, are competitive to search better clients.
Posted by: Naples Real Estate | Dec 12, 2011 2:00:15 AM
Hopefully now we can move on from this bad real estate market and work towards a better future!
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Posted by: gokul real estate property in chennai | Dec 3, 2011 6:00:30 AM
I agree that this is fantastic news. It's amazing that the average selling price through the first 14 days of November was $481,548!
Posted by: Matthew | Dec 1, 2011 4:06:08 PM
Congrats..You did a very good job and you all deserve it.
Posted by: Myynti Hinnat | Nov 25, 2011 1:31:44 AM
I am a little concerned with the "money down" now on a sale for a condo to be built 3 to 4 years in the future. Of course the builder takes down the 20% within about 120 days from the date of signing but is it really a sale?? I think we could be heading into a situation where many will not be able to close the deal come ocupancy date. The sales figures really should distinguish betwen what is SOLD-MOVE IN NOW and what is CONDITIONALLY SOLD...history could be repeating itself again!!!
Posted by: Ernest | Nov 24, 2011 11:23:21 PM
Good thing you have done here, Thanks! This is a pretty up beat post about real estate that I am quoted in.
Andy
Posted by: Philippines properties for sale | Nov 24, 2011 2:06:29 AM
"despite global economic uncertainty, buyers have remained confident in the affordable housing market in the GTA."
This is a great news and this just makes every buyer to have more confident in buying properties.
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