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Toronto home sales down 16%

Greater Toronto Realtors reported 3,076 sales through the Multiple Listing Service® (MLS®) during the first two weeks of November 2010. This represented a 16 per cent decrease compared to the 3,666 sales recorded during the same period in November 2009. Year-to-date sales amounted to 78,526 – up slightly from the 2009 total.

“The number of transactions remained high relative to new listings through the first half of November, promoting a healthy rate of price growth compared to last year,” said Toronto Real Estate Board President Bill Johnston.

The average price for November mid-month transactions was $437,554 – up more than five per cent compared to the average of $415,066 recorded during the first 14 days of November 2009.

“Mortgage payments on the average priced home remain affordable in the GTA based market. This is why the average selling price continues to increase,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

November 18, 2010 in Toronto Real Estate Trends | Permalink

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Comments

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Posted by: How to sell your own house | Nov 27, 2010 10:30:12 PM

Hi Don,
I'm not sure why you believe those numbers to be propaganda and why you think the market is crashing. Maybe you heard it on the news? Maybe you are in a different market than me. I work in the Markham area and the market is quite healthy. Maybe it feels like it's crashing due to the incredibly hot market experienced most of last year and earlier this year. Things have definately slowed since then, but wouldn't you expect that? The market can't stay that hot forever. I like to compare it to driving 140 km/h on the highway instead of 100 km/h. Things are still fairly balanced and prices have continuted to increase or stabilize. If you are a buyer waiting for a "crash" before purchasing a home, you might have to wait a really, really long time. www.yourmarkhamrealestate.com

Posted by: Martin MacFarlane | Nov 26, 2010 2:31:54 PM

Brampton RE board has yet to release sept and Oct sales numbers. How bad of a housing crash is brampton in?I heard rumours that it's over 50% drop in sales for both September and October. Since No numbers have been released who knows?


http://www.bramptonandarearealestate.com/2010_Residential.html

Posted by: Prem | Nov 24, 2010 12:23:27 AM

More propaganda from realtors? Are these guys WORSE then car saleman? Nothing but pumping sunshine in a CRASHING MARKET. Sales are DOWN over 20% for the last SIX MONTH IN A ROW. Prem made a good observation that the brampton RE board has yet to put out sales numbers for September and OCT and were not in mid-Nov? How bad is the housing crash if the board is not releasing numbers? Realtors are shameless people?

Posted by: Don | Nov 22, 2010 8:22:08 AM

I have been monitoring the Canada real estate market from few months and this down fall has enabled lot of people to invest in the property.

Posted by: Ottawa Real Estate | Nov 21, 2010 12:13:54 PM

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