Monday, November 19, 2012

Mississauga real estate and GTA mid month real estate sales figures

Bottom line is that the number of transactions were down about 17% for the
first two weeks of November.

See the full report below.


TORONTO, November 19, 2012 - Greater Toronto Area REALTORS(r) reported 2,687
transactions through the TorontoMLS system during the first two weeks of

This result represented a 17.5 per cent decline compared to the same period
in 2011.

"The reduction of the maximum amortization period to 25 years translated
into higher mortgage payments. Some households will have to save more money
for a down payment before purchasing a home, in order to offset these higher
mortgage costs.

This is more difficult in the City of Toronto, where households must pay an
additional land transfer tax up front. The abolishment of this tax would
allow buyers to have a larger down payment," said Toronto Real Estate Board
(TREB) President Ann Hannah.

The average selling price during the first 14 days of November was $488,647
- up by 1.7 per cent in comparison to the first 14 days of November 2011.
The median selling price over the same period was up by a greater rate of
four per cent to $416,000. The stronger rate of growth for the median
selling price suggests that fewer high-end homes sold this year compared to

"During the first half of November, there were fewer luxury detached homes
sold as a percentage of total transactions compared to last year. The
year-over-year change in the mix of detached homes sold in the GTA, rather
than a change in market conditions, was responsible for a lower than normal
increase in the average detached home price," said Jason Mercer, TREB's
Senior Manager of Market Analysis.

I hope this finds you Happy and Healthy!

All the Best!


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

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