| Real Estate News

 

November 2015-Use this (1)

Nov 2015 condo use this

GTA housing sales have already set a calendar year record – even though December results are still to come.

According to the Toronto Real Estate Board (TREB), November results pushed past the previous annual sales record set in 2007: “Not only did we see a record sales result for November,” says TREB president Mark McLean, “but with one month left to go in 2015, we have already set a new calendar year record for home sales in the TREB market area…”

November sales jumped by 14% to 7,385, posting double digit increases in every sales type and every area, with the exception of detached homes in 416 (which increased by only 0.7% over November 2014). In contrast, sales of 905 detached homes grew by 18.5% over the same period last year to reach 2,550.

The average selling price in November 2015 totalled $632,685, up 9.6% from $577,502 reported in November, 2014.

Prices for all housing types, with the exception of condos, rose by double digits; the overall price of condo units increased by 4.1%, compared to an 10.7% overall increase in the price of detached houses. Detached home prices in 416 continue to push past the one-million mark, now averaging $1,018,621, up 8.8%.

New listings increased by 10.2% in November, but shortages in low-rise housing types are still affecting the market. That leaves room to make a great 2015 even greater.

How do these numbers affect you? Would you like to know what your home is worth in today’s market? Please contact us today at Hello@ChristineCowern.com or 416-291-7372.

DO YOU WANT TO RECEIVE CUSTOMIZED PROPERTY LISTINGS BEFORE THEY HIT REALTOR.CA? Click here and go to Register to sign up!

DO YOU WANT TO GET AN INSTANT UPDATE WHEN YOUR NEIGHBOURS ARE SELLING? Click here

 

 

 

Leave A Comment

Your email address will not be published. Required fields are marked *