Toronto Real Estate Market Performance: November 2009 Mid-Month Statistics
November 19th, 2009 Categories: Mid-Month Statistics, News Wire
Welcome to my mid-month activity report for the Toronto 2009 real estate market. Brief and to the point, it’s my virtual flip chart of the numbers Toronto buyers and sellers can use over time to make good real estate decisions. If interested, a more detailed statistical breakdown can be found on the Toronto Real Estate Board (TREB) website.
Let’s get started!
Toronto MLS
Real Estate Statistics
In the City of Toronto (defined as the 416 area code), sales increased 88% compared to a year ago, with 1,560 transactions written.
Also in the City of Toronto, the average price was $441,893, representing a 10% increase from the $400,305 average recorded in mid-November 2008.
The Greater Toronto Area (GTA) reported 3,666 transactions in the first half of November, up 84% from the same period last year. The average price was $415,066, representing a 10% increase from the $375,712 recorded last year at this time.
Numbers related to inventory and Days On Market (DOM) will be available after month-end in my November 2009 Market Report.
Toronto Real Estate
Market Activity Summary
Once again, big jumps in both sales and average price year-over-year. And that’s no surprise as we continue to make comparisons to market activity that occurred during a time when sales and average price experienced significant declines due to extreme market conditions.
Although TREB is projecting that sales and average price this winter will be above the numbers reported in the fourth quarter of 2008 and the first quarter of 2009, these increases can’t continue forever. Next year’s market is going to be very, very interesting.
Would-be sellers, today’s market is hot. Today’s. Don’t miss your market!
Thinking of buying or selling? Numbers are helpful, but a knowledgeable Toronto real estate agent is invaluable. Call Lauren at 416–550–6991, or send me an email.
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