GTA REALTORS® Report Monthly Resale Housing MarketFigures
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.
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