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With Compliments of
Semone Duerr and Cindy Shanks
Sales Representatives
Re/Max Hallmark, ltd., Brokerage
2237 Queen St E
Toronto, ON, M1E 1G1
T: 416 699 9292
D: cell: 416 519 6734
homes@MyRealEstateGirls.com
www.MyRealEstateGirls.com
Second-Best Year on Record for Sales January 5, 2012 -- 4,718 transactions through the MLS system in December 2011 capped off the second-best year on record under the current TREB boundaries. Total sales for 2011 amounted to 89,347 – up 4% compared to 2010. “Low borrowing costs kept Buyers confident in their ability to comfortably cover their mortgage payments along with other major housing costs,” said TREB. “If Buyers had not been constrained by a shortage of listings over the past 12 months, we would have been flirting with a new sales record in the Greater Toronto Area."
The average selling price in December was $451,436 – also up 4% compared to December 2010. For all of 2011, the average selling price was $465,412, an increase of 8% from the average of $431,276 in 2010.
“Months of inventory remained below the pre-recession norm in 2011. Very tight market conditions meant substantial competition between Buyers and strong upward pressure on selling prices,” said TREB.
“TREB’s baseline forecast for 2012 is for an average price of $485,000, representing a more moderate 4% annual rate of price growth. This baseline view is subject to a heightened degree of risk given the uncertain global economic outlook.” Read the Complete TREB MarketWatch and the videos in our main article for more details. For December's graphs, see TREB's Housing Market Charts. Please remember we are never too busy for your referrals. A dinner at your favorite restaurant is our thanks if you recommend a buyer or seller using our services.
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