The Toronto real estate market had another great month, with 4,119 sales reported and prices hitting their highest level since 1991, TREB President Elect Marilyn Baubie said today.
“With November’s average price at $236,214, we have a 2 per cent increase over last month and a 10 per cent increase over the $214,465 figure recorded in November of 1998.” The President Elect went on to note that, at 14,726 active listings, the Board’s inventory has plunged a whopping 18 per cent from last November’s 18,047. “Fewer houses on the market means fewer choices for buyers and continued upward pressure on prices. That’s good news for vendors.”
Breaking down the total 1,537 sales were reported in TREB’s 28 West districts and averaged $213,666; 659 sales were reported in the 14 Central districts and averaged $358,705; 748 sales were reported in the 23 North districts and averaged $258,698; and 1,175 sales were reported in TREB’s 21 East districts and averaged $182,697.