Toronto Market is Booming

By
Commercial Real Estate Agent with RE/MAX West Realty Inc., Brokerage (Toronto)

Toronto Market is Booming

 

By Brian Madigan LL.B.

 

It’s hard to believe but November was a great success when it comes to Toronto real estate. Prices were up and sales were up.

 

The usual and predictable pattern is that both prices and sales would decline in November. Traditionally, there are two peaks each year, one in the Spring and the other in the Fall. May is the Spring peak and October is the Fall peak.

 

But, before rejoicing too soon, let’s look a little deeper. The expectation is that the October price will match the earlier May price. However, that didn’t happen this year.

 

In May, the average price reached $485,486, and in October, the average price was $476,125, and that raised to $480,421 in November. So, the Fall peak this year is still short of the Spring peak.

 

Real estate enthusiasts will point out that the year over year numbers show a 9.8% increase.

 

Nevertheless, the year to date sales suggest that even with an average December, 2011 will end up breaking records for sales, and probably prices too.

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Topic:
Home Buying
Location:
Ontario
Groups:
Canada, eh
Canadian Bacon
Ontario Real Estate and Information
Tags:
toronto market
booming
november
2011
real estate
prices
sales
performance

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835,611
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Brian -  great to know!   Again, it just goes to show each market is unique to itself. 

Dec 06, 2011 11:23 AM #1
Rainer
282,216
Lori Gardiner
RE/MAX River's Edge - Barrington, RI
GRI, SRS, ABR, e-PRO

Hi Brian,

Good luck and best wishes for continued success!

Happy holidays.

Dec 06, 2011 11:26 AM #2
Rainmaker
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Gail Fabiani
Right at Home Realty Inc., Brokerage - Burlington, ON

Brian, I am finding the market seems to be slowing in Burlington right now.  There aren't as many listings as there were.  However, it may be just the season.

Dec 06, 2011 11:36 AM #3
Rainmaker
333,353
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Brian, very healthy numbers, maybe I should open an office in Toronto!

Ty

Dec 06, 2011 11:46 AM #4
Anonymous
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Anonymous

Yeah, but those are probably Canadian dollars! lol

Good to see increases in both prices and sales.

Dec 07, 2011 09:05 PM #5
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835,611
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Yes, Eric . . .  good solid Canadian dollars in a good solid Canadian market that has the respect of the entire world!

Dec 07, 2011 09:19 PM #6
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Chris Smith
Re/Max Chay Realty Inc., Brokerage - New Tecumseth, ON
South Simcoe, Caledon, King, Orangeville Real Esta

Brian, I was very busy in November and the first week of December, but things have slowed down for me now...

Dec 08, 2011 10:59 PM #7
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Brian Madigan

LL.B., Broker
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