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Brian Madigan LL.B., Broker

RE/MAX West Realty Inc.,
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 

Phone: 416-745-2300

Cell: 647-404-8150 
Toll Free: 1-888-507-0817

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Sales are Up and Prices are Up in Toronto (November 2016)

December 2, 2016 - Updated: December 2, 2016


Sales are Up and Prices are Up in Toronto


This is the report of the Toronto Real Estate Board (TREB) for November 2016:


Tight Market Conditions in November TORONTO,


December 2, 2016 –


Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 8,547 home sales through TREB's MLS® System in November 2016. This result represented a 16.5 per cent increase compared to November 2015.


For the TREB market area as a whole, sales were up on a year-over-year basis for all major home types. The strongest annual rates of sales growth were experienced for the townhouse and condominium apartment segments.


"Home buying activity remained strong across all market segments in November. However, many would-be home buyers continued to be frustrated by the lack of listings, as annual sales growth once again outstripped growth in new listings.


Seller's market conditions translated into robust rates of price growth," said Mr. Cerqua. The MLS® Home Price Index (HPI) Composite Benchmark was up by 20.3 per cent compared to November 2015.


The average selling price at $776,684 was up by 22.7 per cent on a year-over-year basis.


"Recent policy initiatives seeking to address strong home price growth have focused on demand. Going forward, more emphasis needs to be placed on solutions to alleviate the lack of inventory for all home types, especially in the low-rise market segments,” said Jason Mercer, TREB’s Director of Market Analysis.


Average Prices


January                $630,193


February              $685,738


March                  $687,999


April                    $739,765


May                     $752,324


June                    $746,961


July                     $710,500


August                 $710,975


September            $756,213


October                $762,525


November            $776,684




November is usually a “down” month. This year again (like 2015) it’s actually up. That defies longer term trends. But, “it is what it is”.


The market remains “hot” due to a shortage in the supply of properties listed for sale.


Brian Madigan LL.B., Broker

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Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

Phone: 416-745-2300

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