November Sales 73% up in Canada

up by Alex
Up by Alex

GTA is not the only real estate market with double digit jump in sale numbers. The Canadian Real Estate Association reported 73% increase in sales across the whole Canada in November.

There were 36,383 items sold, with Ontario and Quebec setting new sales records for November. Average resale price reached $337,231, up 19% from the November 2008.

Unprecedented increases of year-over-year increases were recorded in B.C. (165%) and also in Ontario (77%); real estate sector is still leading the recovery of Canadian economy.

This activity may seem like uncontrolled boom, however deeper comparisons reveals more sober numbers. There were 437,507 homes sold since the beginning of year 2009, 11% up compared to the first 11 months of 2008, on the other hand it is still below the levels of the previous three years.

Rising number of sales was noticed by potential sellers and resulted in a higher inflow of items onto MLS. Seasonally adjusted new listings were up 5% in November. 69,110 new units joined pool of overall listings, which now offers 183,710 homes across Canada.

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