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Sales Strong in November

December 3, 2010 -- Greater Toronto REALTORS reported 6,510 existing home sales in November – down 13 per cent from 7,446 sales in November 2009. New listings were also down 13 per cent annually to 8,642.
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"The GTA resale market has tightened since the summer. Healthy market conditions continued to support growth in the average selling price," said TREB President Bill Johnston. " We remain on track for one of the best years on record under the current TREB market area," continued Johnston.

The average selling price for November transactions was $438,030 -
up five per cent compared to November 2009.

"The average selling price in the GTA is affordable. A household earning the average income can comfortably cover the mortgage payments on an average priced home. Expect the average selling price to grow at a moderate pace over the next year," said Jason Mercer, TREB's Senior Manager of Market Analysis

Visit  Natalie Korchuk web site for monthly Market Watch updates and current listings available in your area.

Posted: Saturday, December 11, 2010 6:42 AM by Oleh and Natalie Korchuk

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