Toronto Realtors reported upbeat sales of 7,446 homes and condos in Toronto and the GTA for November, 2009. The results for Toronto MLS resale homes were more than double the sales of November, 2008.
The average price of a Toronto resale home was $450,079-up 15 per cent or $59,854 from just one year ago.
Toronto MLS Real Estate Summary:
City of Toronto 2009
- Sales 3,212
- Average Price $450,079
Rest Of The GTA:
- Sales 4,234
- Average Price $394,474
Toronto Condos:
The average resale November 2009 price of Toronto Condos in Central Districts:
- C01-$391,937-up 23.5 per cent
- C07-$317,572-up 19.5 per cent
- C08-$369,841-up 20.7 per cent
- C14-$331,370-up 19.7 per cent
- C15-$281,524-up 15.2 per cent
Toronto Real Estate Market Observations:
Last year, November was a very quiet month for Toronto Real Estate agents with all the markets slowing as a result of the world financial crisis. Starting in January, the Toronto market started to gain and month over month gains in 2009 resulted in a Real Estate market back to pre recession levels.
The Toronto Real Estate Board is quoted "Very strong annual growth rates for sales and average price should be expected through the first quarter of 2010.."
One of the many Toronto housing market indicators that is a concern is the active listings that are down 49 per cent from a year ago. This will result in higher prices and bidding wars on desirable homes and Condos in the near future.
If you are thinking of buying or selling, a knowledgeable Toronto Real Estate agent can help. Call Iris at 416-505-8023, or please send me an email.
Source Greater Toronto Real Estate Board
