GTAWESTHOMES reporting Mid November Real Estate Market Update in Toronto

The Real Estate Market is still going good in Canada. Due to great mortgage rates and affordable housing available for the First Time Buyers, market has done well so far. Here is the report to give you more detailed information.

Total sales reported through our MLS system during first two weeks of November was 3,076 sales. Though this represented a 16 per cent decrease compared to the 3,666 sales recorded duringthe same period in November 2009. Year-to-date sales amounted to 78,526 - up slightly from the 2009 total.

President of Toronto Real Estate Board Bill Johnston said"The number of transactions remained high relative to new listings through the first half of November, promoting a healthy rate of price growth compared to last year,"

The average price for November mid-month transactions was $437,554 - up more than five per cent compared to the average of $415,066 recorded during the first 14 days of November 2009.

"Mortgage payments on the average priced home remain affordable in the GTA based.
This is why the average selling price continues to increase," said Jason Mercer, TREB's Senior Manager of Market Analysis.

Need specific information for your street, email me by filling up contact form on my website www.gtawesthomes.com and I will be happy to provide the same to you.

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