In November, TREB recorded 4,880 houses sold through its MLS system, President Marilyn Baubie reported today. That number was up 18% from the 4,119 sales recorded in November of last year, and up 4% from the 4,696 recorded in October.
“Last month was quite remarkable,” the President commented. “Generally, the pace of sales slows as we approach Christmas. If people are this intent on shopping for homes so close to the holiday season, that bodes well for next year’s Spring market.” Ms. Baubie noted also that prices rose slightly in November, to $246,154 from October’s $245,321. They were also up 4% from the $236,214 recorded in November 1999. “Annual increases in the 4-6 per cent range are sustainable over the long term,” the President said. “So far, the Toronto housing market has been able to avoid the Boom-and-Bust cycle of the late 80’s and early 90’s.”
Breaking down the total 1,742 sales were reported in TREB’s 28 West districts and averaged $225,829; 821 sales were reported in the 14 Central districts and averaged $353,475; 972 sales were reported in the 23 North districts and averaged $262,436; and 1,345 sales were reported in TREB’s 21 East districts and averaged $195,203.