As extreme low numbers in active listings, at the end of each month, continue because of supply vs demand, this will drive average selling prices higher. November's trend is no different than any other month this year. This report will include something new; a Halton Regional Report (which includes Oakville & Milton) will be attached for easy reference and breakdown of all market segments. Peel Region (including Mississauga) is also attached for easy reference. Here we go:
G.T.A. & PEEL MARKET TRENDS
"Home buyers continued to take advantage of low borrowing costs in November, especially those looking to buy some form of single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA, which has continued to support double-digit rates of price growth," said Lisa Patel, TRREB President.
The average selling price for all home types combined was up by 13.3% to $955,615. Maket conditions tightened in many single-family market segments in November, resulting in average selling price increases for detached, semi-detached and townhomes.
In contrast to the single-family market, buyers continued to benefit from much more choice in the condominium apartment market compared to last year, particulary in the City of Toronto.
As mentioned above, for the Mississauga marke segment, please click here.
Sales activity for Burlington area saw an increase of 19% and the number of listings an increse of 13%. However, as mentioned before the number of active listings at the end of the month saw a reduction of 27% as demand surpassed supply. For your concise report from RAHB for Burlington please click here and for the Halton Regional report please click here