John Pasalis in Toronto Real Estate News
The average price for a Toronto home increased by 5% in November compared to the same month last year.
You can see all the monthly charts on our real estate statistics page.
Resale home sales declined by 13% in November but even with this slight decline in demand, Toronto’s real estate market continues to move further into Seller’s market territory. We are seeing too few houses coming on the market to meet the demand from buyers. The number of new listings coming on the market declined by 13% in November.
We can see this imbalance by looking at the sales-to-inventory ratio for Toronto’s real estate market.
Following the brief dip in the sales-to-inventory ratio over the summer months we’ve seen the balance shift further into the seller’s favour over the past two of months. The sales-to-inventory ratio reached 41% in November.
The following chart shows the sales-to-inventory ratio for each MLS district in Toronto. Leaside (C11) is the hot area this month with a sales-to-inventory ratio of 90%.
John Pasalis is the Broker Owner of Realosophy Realty Inc in Toronto. Realosophy focuses on researching Toronto neighbourhoods to help their clients make smarter real estate decisions. Email John
December 6, 2010
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