TORONTO, November 16, 2011 – The TorontoMLS® system reported 3,379 transactions for the first two weeks of November, a more than a 13 % increase over the first half of November 2010. New listings were up 16 % for the same period continuing the market correction to redress the imbalance between supply and demand. This is reflected in the slowing of average transaction price increase to 10% over 2010 to $481,548 in November 2011. Bodes well for our market, as affordability will remain good. The Bank of Canada seems set to keep interest rates low for the foreseeable future.

Despite Global uncertainty, or maybe because of it, our market remains strong. Foreign investors are a big factor in especially the condo market, seeing Canada as a haven of stability in an unstable world.

June 3, 2010 -- Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record.

As predicted the market is normalizing  as more listings come to market buyers have more choice.
New listings were up 38 per cent annually to 18,940. The average price for May transactions was $446,593 – up 13 per cent compared to the average of $395,609 recorded in May 2009.

The first quarter of '10 was insanely active compared to a relatively inactive first quarter of '09. As we move through the 2010 the year on year numbers will show more significant drops in units sold. The indicator to watch for is average price which will moderate towards year end. Some commentators are  looking for a price drop. If any it will be minor

In May, the median price was $376,750, from the $337,000 recorded during May of 2009.