November Market Update – Still Going Up!

Another very solid month for real estate sales in Toronto. We saw 7,446 sales in November, this is slightly more than double that of November 2008 (that being said November 2008 marked a quick drop in transactions due to the economic downturn in the global economy – so, these numbers are very unique). Sales are up 14% year to date versus the first 11 months of 2008. The GTA home sales are as healthy as we saw in 2004 and 2006.

The average price for a home in the GTA last month was $418,460, the year to date was up 4% to $394,464.

We expect very strong annual frowth rates for sales and average price during the first quarter of 2010! We also expect that the spring will bring more sustainable growth rates.

The values in the city core are even stronger than the above GTA statistics.

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