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GTA Housing Market

The Toronto Real Estate Board reported strong price growth for the GTA in November as tighter market conditions prevailed across the region. The average selling price for November was up 11.3% on a year-over-year basis to $538,881. The MLS Home Price Index Composite Benchmark, which is not affected by changes in the mix of sales the way that average price is, was up by 5.7% over the same period.

The total number of sales also increased in November, as a total of 6,391residential transactions were reported. This number represented a 13.9% increase from November 2012 when there were 5,613 total sales. The growth in sales was strong for most house types with the single-detached market leading the way, followed closely by condominium apartments. Together, singles and condos accounted for almost three-quarters of total GTA transactions.

Contributing to the tighter conditions was the fact that new listings dropped by 4.4% and active listings were down 12.1% from one year earlier.

GTA Year-Over-Year Summary For November

fig1

Source:CMHC

Active Listings Across Selected Home Types in the GTA

fig2

Source:CMHC

GTA Year-Over-Year Summary For November

About Us

We are a leading institutional lender offering a competitive line of mortgage products to help consumers achieve their dreams of home ownership and financial freedom.

We work exclusively through a select group of mortgage brokers who will assist you in your application process and to ensure you receive excellent customer service.

Borrowers Contact Information

  • Mortgage Information: 416-227-2000×1016

Broker Contact Information

  • Origination: 416-227-2000×1019
  • Underwriting: 416-227-2000×1023

General Contact Information

First Swiss Mortgage Corp. 5775 Yonge St, Suite 525 Toronto, ONTARIO M2M 4J1
Phone: (416) 227-2000 Fax: (416) 227-2008

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