volumes and prices, market is very healthy!
Pace of Home Sales Remains Brisk in October
November 3, 2011 -- Greater Toronto REALTORS(r) reported 7,642 home sales
through the TorontoMLS(r) in October 2011. This represented an increase of
17.5 per cent compared to the 6,504 transactions reported in October 2010.
Monthly sales data follow a recurring seasonal trend that should be removed
before comparing monthly results within the same year. After adjusting for
seasonality, the annualized rate of sales for October was 97,100, which was
above the average of 90,700 for the first three quarters of 2011.
"The pace of October resale home transactions remained brisk in the GTA.
This bodes well for a strong finish to 2011," said Toronto Real Estate Board
President Richard Silver. "Home buyers who found it difficult to make a deal
in the spring and summer due to a shortage of listings have benefitted from
increased supply in the fall."
The average selling price through the TorontoMLS(r) in October was $478,137
- up eight per cent compared to October 2010.
"Sellers' market conditions remain in place in many parts of the GTA. The
result has been above-average annual rates of price growth for most home
types," said Jason Mercer, the Toronto Real Estate Board's Senior Manager of
Market Analysis.
"Thanks to low interest rates, strong price growth has not substantially
changed the positive affordability picture in the City of Toronto and
surrounding regions."
I hope this finds you Happy and Healthy!
All the Best!
Mark
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc.
Providing Full-Time Professional Real Estate Services since 1987
BUS 905-828-3434
FAX 905-828-2829 CELL 416-520-1577
mark@mississauga4sale.com
Mississauga4Sale.com
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