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Toronto Real Estate Sales Break Two Records in November

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John in Toronto Real Estate News

The 7,313 home sales reported by the Toronto Real Estate Board last month were not only a record for any November in history, but for year-to-date sales.  88,695 sales breaks the previous record of 84,145 set in 2005, and there is still one month to go in 2007.

The number of homes sold in November climbed by 16.45% compared to the same month last year.  The average sales price for a home jumped by almost $40K over last year's number to $393,747.  Houses were on the market for an average of 32 days last month with a list-to-sale ratio of 98%.

The Toronto Real Estate Board (which covers Toronto and the GTA) is on track to sell over 90,000 homes by the end of this year.

John Pasalis is a sales associate at Prudential Properties Plus in Toronto and a founder of Realosophy. Email John

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John Pasalis
John Pasalis
John Pasalis is President of Realosophy Realty, a Toronto real estate brokerage which uses data analysis to advise residential real estate buyers, sellers and investors. A specialist in real estate data analysis, John's research focuses on unlocking micro trends in the Greater Toronto Area real estate market. His research has been shared with the IMF and cited by the Bank of Canada and CMHC. A frequent commentator on the Toronto housing market and real estate consumer and industry issues, John has contributed to the Globe and Mail, CBC, BNN Bloomberg, TVO's The Agenda, Toronto Star and other media, national and international government and industry organizations. John holds a B.Sc. in Economics from the University of Toronto and is a candidate in the Doctorate of Business Administration Program at the University of Toronto and Henley Business School (UK).

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