Toronto Real Estate Board

Toronto Real Estate Board

November 16, 2010 09:41 ET

GTA REALTORS® Report Mid-Month Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2010) - 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. This is why the average selling price continues to increase," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Summary Of November Sales And Average Price
 
    November
      2010     2009
    Sales   Average Price   Sales   Average Price
City of Toronto ("416")   1,320   $ 488,671   1,560   $ 441,893
Rest of GTA ("905")   1,756   $ 399,128   2,106   $ 395,195
GTA   3,076   $ 437,554   3,666   $ 415,066
 
Source: Toronto Real Estate Board
   
   
Sales & Average Price By Home Type  
   
    November-2010              
    Sales           Average Price        
    416     905     Total     416     905     Total  
   
Detached   434     972     1,406     700,572     477,532     546,823  
  Yr./Yr. % Change   -12 %   -18 %   -16 %   12 %   0 %   5 %
Semi-Detached   140     196     336     504,805     342,121     409,906  
  Yr./Yr. % Change   -20 %   -4 %   -12 %   -1 %   4 %   -1 %
Townhouse   134     311     445     403,180     309,371     337,619  
  Yr./Yr. % Change   -33 %   -15 %   -22 %   10 %   8 %   7 %
Condo Apartment   593     232     825     355,226     242,483     323,521  
  Yr./Yr. % Change   -12 %   -19 %   -14 %   12 %   -2 %   9 %
   
Source: Toronto Real Estate Board  

Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 30,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

For information about Buyer Representation Agreements (BRA) visit www.BRAFirst.ca.

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