GTA market recovers with highest November appreciation rate

By: Thomas Cook

GTA market recovers with highest November appreciation rate

In November sales were up 13.7% compared to last year with 7,090 houses and condominiums changing hands in all the districts.
 
Condo townhouse and high-rise suite sales were stable with a 34.5% share of the market and 2,449 units being sold, a moderate 3.6% increase from 2018.
 
The November average sale price for all GTA homes came in at $843,637, up 7.1% from one year ago.
 
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of November compared to historical numbers was lower by just over 27% compared to last year at this time.
 
This inventory imbalance is causing price increase in many, but not all, GTA districts.
 
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in.  24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
 
In November that ratio finished at 59.3% - almost 21% above last year and the highest we’ve seen this year – indicating a continuing strong, steady market as we start to move towards the end of the fall market. 
 
The days-on-market average for GTA / Toronto homes was 24 days, 1 day faster than October.

Here’s a snapshot summary of the significant real estate milestones for Toronto in November 2019… with the highest appreciation rate so far in 2019!!

Watch the video to get the complete November 2019 Market Report details.



Here's the complete text version of the November 2019 Toronto Real Estate Market Report to read.


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