NOVEMBER 2011 MARKET UPDATE - Toronto Real Estate Board

December 6, 2011 -- Greater Toronto REALTORS® reported 7,092 residential transactions through the TorontoMLS® system in November – up 11 per cent in comparison to November 2010. At the same time, the number of new listings was up by 14 per cent in comparison to last year.

“We have seen strong annual sales growth through the 2011 fall market. The increase in transactions has been broad-based, with strong growth across low-rise and high-rise home types throughout the Greater Toronto Area,” said Toronto Real Estate Board (TREB) President Richard Silver. “The market has also become better supplied, with annual new listings growth outstripping that of sales. As this trend continues into 2012, we will see more balanced market conditions.”

The average price for November transactions was $480,421, representing an increase of almost 10 per cent in comparison to $437,494 in November 2010.

"Despite strong price growth this year, the housing market remains affordable in the GTA," said Jason Mercer, TREB’s Senior Manager of Market Analysis. "The correct method of assessing affordability is to consider the share of the average household’s
income that is dedicated to mortgage principal and interest, property taxes and utilities. Currently, this share remains in line with generally accepted lending guidelines. Given this positive affordability picture, average price growth is forecast to continue in 2012, albeit at a more moderate pace."

Here is a beautiful chart by TREB providing all the STATS as of November 2011.

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 © 2011 Jas Jagpal, BROKER, BSc. York University

Posted via email from Markham Condos :: Markham Houses for Sale :: Markham Neighborhoods :: Markham Real Estate Blog

INTERBOARD Listings - Yes I can list houses outside of the GTA!

Can I list outside of the GTA?   Definitely!

As a licensed Realtor I am able to trade in Real Estate anywhere within Ontario.

So if you are in Windsor-Essex board.  I can list your house for sale being in Toronto.  How?

Toronto Real Estate Board (TREB) are members of a "Interboard Program".  Those boards who participate and have an OPEN board policy will allow Toronto Realtors to place a listing on their local MLS.  OPEN boards will take listings from TREB members where ever they are located.  CLOSED boards only accept listings from TREB members outside of their jurisdictional boundaries.

So In the Windsor example.  I would list your Property on the Toronto MLS system.
Complete the required paperwork for the Windsor board listings. 
Submit the $60 FEE and required documents to TREB. 
TREB will then forward the listing package to the reciprocating Board.

All Buyer appointments and offers would be dealt directly with my brokerage as if we were actually located near your home in Windsor.

So if you live outside of the GTA and would like Jas Jagpal to help you sell your home... I can!

© 2010- Jas Jagpal, Remax Sales Representative, jasjagpal@gmail.com ; 647-272-6629

Markham Boxgrove Homes, Morningside Heights Homes, Scarborough Town Centre Condos, Toronto Real Estate: www.JasJagpal.com
Thinking of Selling a House or a Condo - Don't pay 5% or 4% commissions.  
FLAT FEE MLS listings is the way to go: www.SELLFor999.com

 Posted on: www.1stoprealestate.ca : www.LinkToMorningside.com: www.MarkhamBoxgrove.com

 

 

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