LOIC DANIS

Sutton Group - Old Mill Realty Inc. Brokerage

  • HOME
  • WHY LOIC?
    • WHY LOIC?
    • ABOUT LOIC
    • MY SOLDS
    • WHAT LOIC'S CLIENTS SAY...
  • SEARCH MLS LISTINGS
    • SEARCH MLS LISTINGS
    • FEATURED LISTINGS
    • TORONTO WEST NEIGHBOURHOODS >
      • THE KINGSWAY
      • SUNNYLEA
      • MIMICO + NEW TORONTO
      • LONG BRANCH + ALDERWOOD
      • BLOOR WEST VILLAGE + BABYPOINT
      • HIGH PARK + SWANSEA
      • RONCESVALLES
      • THE JUNCTION
  • TORONTO REAL ESTATE NEWS BLOG
  • TOOLS
    • MORTGAGE PAYMENT + LAND TRANSFER TAX CALCULATOR
    • CLOSING COSTS
  • CONTACT LOIC
CONTACT LOIC

MARKET UPDATE: NOVEMBER 2019

12/5/2019

 
Picture
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,090 sales through TREB's MLS® System in November 2019 – a 14.2 per cent increase compared to November 2018. On a GTA-wide basis, sales were up year-over-year for all major market segments. Annual sales growth in ground oriented home types, including detached houses, led the way. 
New listings entered into TREB's MLS® System in November and the active listings count at the end of the month went in the opposite direction compared to last year, with new listings down 17.9 per cent year-over-year and active listings down 27.2 per cent. 
"An increasing number of home buyers impacted by demand-side policies over the past three years, including the 2017 Ontario Fair Housing Plan and the OSFI mortgage stress test, have moved back into the market for ownership housing. Based on affordability and stricter mortgage qualification standards, many buyers may have likely adjusted their preferences, changing the type and/or location of home they ultimately chose to purchase," said Mr. Collins.
As market conditions continued to tighten in November 2019, with increased sales up against an increasingly constrained supply of listings, the annual rate of price growth continued to accelerate. The MLS® Home Price Index Composite Benchmark increased by 6.8 per cent year-over-year. The average selling price increased by 7.1 per cent year-over-year to $843,637. Both the MLS® HPI and the average selling price for the TREB market area as a whole experienced the strongest annual rates of price growth for the year in November. 
"Strong population growth in the GTA coupled with declining negotiated mortgage rates resulted in sales accounting for a greater share of listings in November and throughout the second half of 2019. Increased competition between buyers has resulted in an acceleration in price growth. Expect the rate of price growth to increase further if we see no relief on the listings supply front," said Jason Mercer, TREB's Chief Market Analyst.
DOWNLOAD THE FULL REPORT

Comments are closed.

    LOIC DANIS

    Loic Danis is a Toronto Real Estate Broker and Broker of Record/Owner of Sutton Group Old Mill Realty Inc. specializing in residential and investment real estate in Downtown Toronto, Etobicoke + West Toronto neighbourhoods including The Kingsway, Babypoint, Sunnylea, Swansea, Roncesvalles, High Park, Swansea, New Toronto, Mimico, Waterfront Communities, Yorkville, St. Lawrence Market, Bay Street Corridor and more! 

    Categories

    All
    Banbury-Don Mills Real Estate
    Bay Street Corridor
    Church-Yonge Corridor
    High Park - Roncesvalles
    Just Listed
    Lawrence Manor Real Estate
    Market Outlook + Year In Review
    Market Update
    Mimico Real Estate
    Mineola
    Mississauga Real Estate
    Mount Dennis Real Estate
    Palmerston - Little Italy
    Sunnylea Real Estate
    Toronto Condos
    Toronto Real Estate
    Waterfront Communities Real Estate

    RSS Feed

CONTACT



LOIC DANIS
Broker of Record

Direct | 416-671-0300
Office  | 416-234-2424

Sutton Group - Old Mill Realty Inc. Brokerage
CONTACT LOIC

NEIGHBOURHOOD SEARCH


THE KINGSWAY
SUNNYLEA
MIMICO + NEW TORONTO
LONG BRANCH + ALDERWOOD
BLOOR WEST VILLAGE + BABYPOINT
HIGH PARK & SWANSEA
RONCESVALLES
THE JUNCTION

NEWSLETTER SIGN UP


COPYRIGHT © LOIC DANIS 2017
Site Design by The Real Estate Marketing Shop