GTA REALTORS® Report Monthly November Resale Housing Market

TORONTO  December 3, 2010 -- Greater Toronto REALTORS reported 6,510 existing home sales in November – down 13 per cent from 7,446 sales in November 2009. New listings were also down 13 per cent annually to 8,642. On a month-over-month basis, the seasonally adjusted annual rate of sales increased for the fourth straight month to 88,100. This rate was substantially higher than the July low of 67,900.
"The GTA resale market has tightened since the summer. Healthy market conditions
continued to support growth in the average selling price," said Toronto Real Estate Board
President Bill Johnston. “Sales through the first 11 months of the year were down only marginally compared to the same period in 2009. We remain on track for one of the best years on record under the
current TREB market area,” continued Johnston.

The average selling price for November transactions was $438,030 - up five per cent
compared to November 2009. "The average selling price in the GTA is affordable. A household earning the average income can comfortably cover the mortgage payments on an average priced home.

Expect the average selling price to grow at a moderate pace over the next year," said Jason
Mercer, TREB’s Senior Manager of Market Analysis.

Watch Video by
Jason Mercer,
TREB’s Senior Manager
of Market Analysis.
     

     

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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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