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Sales and Average Price Up Compared to 2010

November 4, 2011 -- Greater Toronto REALTORS reported 10,922 transactions through the TorontoMLS® system in 2011, representing a 23 per cent increase over 2010. Total sales through the first seven months of this year amounted to 55,863 – down by 1.3 per cent compared to the same period in 2010. After adjusting for seasonal fluctuations, the figure continued to point to an annual sales result close to 90,000 – in line with results from the previous six months.

"Strong home sales continued, with a substantial rebound over last summer's slow-down brought about by higher mortgage rates, new lending guidelines and misconceptions about the HST. The greatest rebound was seen in the condominium apartment segment in the City of Toronto," said Toronto Real Estate Board President. "If the current pace of sales holds up, we could see the second best year on record under the current TREB market area."

The average selling price was $459,122 – up by almost ten per cent compared to the 2010 average of $418,675.
 

I will be checking back soon to give you the latest information on what's new. If you have any comments, get in touch.  Remember, if you are looking for a home or selling your home, call me! I can send you listings electronically if you are simply interested on what's going on in your neighborhood, no problem.

 

You can get help determining the value of your home by requesting a TORONTO MLS generated market report that includes the prices of similar homes that recently sold or are currently for sale in the Toronto areas with statistics.

 

So whether you're buying or selling, feel free to contact me at mark@markrourke.com and I will be happy to help you. Also if you want to chat, I'm game.

 

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