Sales Held On In November

The latest set of results from the Toronto Real Estate Board (TREB) confirms that housing sales have held on despite an overall market slowdown. See our fresh infographic:

 

As you can see, the general market activity has declined compared to the previous year. However, considering the demand shift to the record-strong period in spring 2010, we are still on track for one of the most successful years in TREB's modern history. Activity on a month-to-month basis has stabilized—we experienced an almost equal level of sales in October and in November.

It takes seven more days to sell a property compared to November 2009 and 2 more days compared to October 2010. However, both the inflow of new listings and the number of active GTA MLS listings have dropped. This is an indication of what we to expect in upcoming months—a slower market with moderate average price growth.