"The market is holding very steady as we progress through autumn and we are seeing a good level of activity across the board," Mrs. Mason said. "Overall conditions are very healthy and 2006 remains within just one and a half percent of last year's alltime record sales pace."
Despite a slight moderation from last November's total of 6,646 transactions, the resale market remains on solid footing according to Jason Mercer, CMHC's Senior Market Analyst for the GTA.
"Existing home sales have remained very respectable through the first two months of the fourth quarter," Mr. Mercer said. "Home buyers have remained confident in their ability to purchase a home due to low borrowing costs and steady employment and wage growth, on average."
In the city's east end, Scarborough Town Centre / Woburn (E09) saw an increase in overall sales of 30 per cent compared to November 2005, led by a jump in condominium transactions.
A jump in transactions of semidetached homes fueled an overall sales increase of 53 per cent in the York South area of Toronto (W03) compared to the same timeframe a year ago.
North of Toronto in Richmond Hill North (N05), detached homes were the most common housing type changing hands as the area saw an overall increase in sales of 29 per cent compared to last November.
"It's a great time to be getting in the market or making your move," TREB's President added. "Conditions in the GTA remain very stable, and that's good news for consumers."
Toronto REALTORS(R) are passionate about their work. They adhere to a strict code of ethics and share a state-of-the-art Multiple Listing Service. Its 22,981 listings resulted in November's 6,281 sales. Serving over 24,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.torontogreathomes.com.
Toronto real estate. NOVEMBER MARKET UPDATE
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