Toronto and Etobicoke Real Estate Home Sales for November 2016
Tight Market Conditions in November
Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 8,547 home sales. This result represented a 16.5 per cent increase compared to November 2015. Let’s look at how this has affected Etobicoke home sales.
For the TREB market area as a whole, sales were up on a year-over-year basis for all major home types. We saw the the strongest sales growth rates in 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. This is because 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, we need to place emphasis on solutions to alleviate the lack of inventory for all home types, especially in the low-rise market segments.” This was from Jason Mercer, TREB’s Director of Market Analysis.
But that is only a snapshot of what happened in the GTA. If you are looking for Etobicoke Real Estate Home Sale stats for your local area, I have you covered.
Here is a snapshot of homes sold in the month of November for Etobicoke Single Family Homes:
ETOBICOKE REAL ESTATE MARKET WATCH
How did your Etobicoke market do? Do you have questions about your Etobicoke home and wonder where it falls within theses stats?
For more detailed information on your Etobicoke neighbourhood or more specifically on your own home? I invite you to give me a call at 416-762-8255 or e-mail me today
PART OF MY JOB AS YOUR REALTOR® IS TO PROVIDE YOU WITH UP TO DATE LOCAL MARKET STATISTICS. THIS WAY YOU ARE KEPT IN THE KNOW ABOUT YOUR HOME’S WORTH.
THIS INFORMATION IS CRITICAL FOR MAKING A DECISION IF YOU ARE THINKING ABOUT WHETHER NOW IS A GOOD TIME TO SELL, BUY OR JUST ENJOY YOUR HOME FOR MANY YEARS TO COME!