November 2011 Market Recap

December 13, 2011 - Updated: December 13, 2011

According to the Toronto Real Estate Board (TREB), there were 7,092 sales through the Multiple Listing Service (MLS) in November. This is an 11 per cent increase from November 2010.

November saw an average selling price of $480,421 - which is almost a ten per cent increase from the average selling price of $437,494 reported in November 2010.

Balanced market conditions, is the prediction for 2012. The annual new listings growth is outstripping that of sales and the market is better supplied, according to TREB president Richard Silver. Increase in transactions have been broad-based and the annual sales growth was strong through the fall market.

The median price in November 2011 was $400,000.
The median price in November 2010 was $366,000.

"Despite strong price growth this year, the housing market remains affordable in the GTA. Given this positive affordability picture, average price growth is forecast to continue in 2012, albeit at a bit more moderate pace" said Toronto Real Estate Board (TREB) Senior Manager of Market Analysis Jason Mercer.

*Market analysis based on numbers provided monthly by the Toronto Real Estate Board (TREB).

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