Toronto has seen a remarkable recovery of its real estate market over the past year. A year ago the market was pretty bleak as we experienced the economic downturn, with just 3,640 homes selling last November, along with declines in average sales prices.
So, a year later and we find just over twice as many homes were sold in November 2009, at 7,446 sales. The average sales price across the GTA was $418,460. This is down 1.2% from the month before, but still ahead 13.5% year-over-year. Home prices continue to hover in the range of new all time highs, with the outlook for the spring 2010 market to push even higher.
This chart shows the monthly sales and average prices for Toronto since 2006. Click on the chart to see a larger version.
While these numbers are aggregates for the whole Toronto GTA, they are useful for understanding the big picture. If you’d like to have the Toronto market explained to you in more depth, or to understand the details as it pertains to your home and your neighbourhood, please let me know. I’m here to help.
Contact me for all your real estate needs…
Ralph Evans, Sales Representative
RE/MAX Professionals Inc., Brokerage
Phone 416 236-1241
Humbertown Plaza – 270 The Kingsway, Suite 200, Toronto ON