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November home sales in the GTA up compared to last year: TREB

TORONTO – The Toronto Regional Real Estate Board (TREB) says November home sales in the Greater Toronto Area were up 24.3 per cent compared with last year.

The board says there were 8,766 homes sold in the month, up from 7,054 in November 2019.

The rise in sales came as the average price was $955,615, up from $843,307 a year earlier.

Board president Lisa Patel says home buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home.

Meanwhile, the board says buyers continued to benefit from much more choice in the condominium apartment market compared with last year.

It says more options in that market translated into a small year-over-year decline in the average condominium apartment selling price in the 416 area code.