Sales in the Greater Toronto Area were 14 per cent higher in November 2015 compared to a year earlier. The Toronto Real Estate Board says that the 7,385 sales through its MLS was a new record for the month. For the first 11 months of the year there were 96,401 sales, which is also a new record.
“Not only did we see a record sales result for November, 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, eclipsing the previous record set in 2007. Sales were up on a year-over-year basis for all major home types, both in the City of Toronto and surrounding regions. This suggests that the demand for ownership housing is widespread, from first-time buyers to long-time homeowners across the GTA,” said president Mark McLean.
The average selling price for all transactions was up by an annual rate of 9.6 per cent to $632,685.