TORONTO, November 16, 2010 — Greater Toronto REALTORS® reported 3,076 sales through the Multiple Listing Service® (MLS®) during the first two weeks of November 2010.
This represented a 16 per cent decrease compared to the 3,666 sales recorded during the same period in November 2009. Year-to-date sales amounted to 78,526 up slightly from the 2009 total.
The number of transactions remained high relative to new listings through the first half of November, promoting a healthy rate of price growth compared to last year,’ said Toronto Real Estate Board President Bill Johnston.
The average price for November mid-month transactions was $437,554 up more than five per cent compared to the average of $415,066 recorded during the first 14 days of November 2009.
Mortgage payments on the average priced home remain affordable in the GTA based. This is why the average selling price continues to increase,’ said Jason Mercer, TREB’s Senior Manager of Market Analysis.