Toronto sales set new record

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.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Investment Hot Spots:
Elmvale, Trent River, Sutherland Lake, Odessa, Jaffray

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Is a T.O foreign sales tax a good idea?