05 Dec REAL ESTATE MARKET UPDATE: DECEMBER EDITION
The Toronto Real Estate Board MLS reported an average selling price of $843,637 this November, up 7 per cent from last year. The increase in prices, largely led by the condominium segment, is the second biggest in history for the month of November, with only the November 2016 benchmark showing greater gains. The 7,090 sales reported for November is a jump of 14.2 per cent over last year. However, according to an analysis by Better Dwelling, even with the big jump, November 2019 sales were still 3.85 per cent below the 5-year median volume for the month. This highlights the continued problem of low inventory. New listings in November were down by 17.9 per cent from last year and active listings were down by 27.2 per cent. Fewer listings combined with higher sales sent total inventory to historic lows for this month.