Skip Navigation Links  
 
 
Phone: (416) 454-9757
Fax: (905) 916-0912
Email: olgakud@rogers.com
  

Monthly Market Update – November 2019

Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 7,090 sales through TREB’s MLS® System in November 2019 –a 14.2% 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% year-over-year and active listings down 27.2%.

“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, the President of TREB.

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 average selling price increased by 7.1% year-over-year to $843,637. 

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 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 (Courtesy of TREB)

If you'd like more information, or if you have a question that's not covered here, please ask me  — I'll be happy to help.



Monthly Market Update - February 2020
Monthly Market Update - January 2020.
Monthly Market Update - December 2019
Monthly Market Update - November 2019
Monthly Market Update - October 2019
Monthly Market Update - September 2019
Monthly Market Update - August 2019
Monthly Market Update - July 2019
Monthly Market Update - June 2019
Monthly Market Update - May 2019
Monthly Market Update - April 2019
Monthly Market Update - March 2019
Monthly Market Update - February 2019
Monthly Market Update - January 2019.
Monthly Market Update - December 2018
Monthly Market Update - November 2018
Monthly Market Update - October 2018
Monthly Market Update - September 2018
Monthly Market Update - August 2018
Monthly Market Update - July 2018
Monthly Market Update - June 2018
Monthly Market Update - May 2018
Monthly Market Update - April 2018
Monthly Market Update - March 2018
Monthly Market Update - February 2018
Monthly Market Update - January 2018
Monthly Market Update - December 2017
    HOME to HOME Realty Inc., Brokerage
    
                 1401- 2185 Sheridan Park Drive  
                  Mississauga ON L5K 1C7

Home | About Me | My Services | Info for Buyers | Info for Sellers | New Projects | Contact | Admin
WebMaster: Tirex Consulting Inc., 1997-2016