News from the housing market in the Greater Toronto Area continues to be amazing. Recent stats from the Toronto Real Estate Board show that a new record was set for home sales in November — up 14 per cent over the same month last year! And that’s not all … November saw the average price of homes and condos reach $632,685, which is up 9.6 per cent from the same month in 2014. Plus, the November figures brought sales to date this year to 96,401, which is nothing less than astounding. The closest we had to that number was in 2007, when 93,193 set the previous record.
Robust resale numbers and our healthy new home and condo sales this year tell a promising story of faith in our economy. People buy homes when they feel comfortable about making one of the biggest financial and lifestyle moves of their lives. It is easy to understand why so many people come from around the world to settle in the GTA and buy homes here. Things are on track for another spectacular year in 2016.