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MLS Sold Statistical Summary for N11 in November 2009
By: Moses Lu

In November 2009, the Toronto Real Estate Board (TREB) reported 208 sales in District N11, up 131% from November 2008.  In fact, the year-to-date sales are already up by 38% compared to the first eleven months of 2008.  The average price for November transactions was up by 17.5% compared to the same month last year.   

Now, despite all these astonishing figures, it may come as a surprise that the number of active listings is actually down compared to last year.  As a matter of fact, there were only 281 active listings in November 2009 in N11, down from 835 the same time last year.  Listings are down by almost 70%!  This means that houses are being sold at a much more rapid pace this year, leaving fewer active listings on the market.  As we can see, the number of sales is quickly outpacing sales from last year even with less active listings.  All this can be explained by the concept of what is called a “seller’s market” – when the number of buyers outnumbers the amount of inventory available.  Think of it in terms of supply and demand: as the supply of houses decrease, the demand for them increases.  This puts sellers at an incredible advantage as more buyers are out there who are interested in purchasing your home.  Even with the cooling weather, the real estate market in your area is still HOT.

In September 2009, the Toronto Real Estate Board (TREB) reported 270 sales in District N11, up 58% from September 2008.  In fact, the year-to-date sales are already up by 30% compared to the first nine months of 2008.  The average price for September transactions was up by 18.5% compared to the same month last year. 

Now, despite all these astonishing figures, it may come as a surprise that the number of active listings is actually down compared to last year.  As a matter of fact, there were only 282 active listings in September 2009 in N11, down from 878 the same time last year.  Listings are down by almost 70%!  However, as we can see, the number of sales is quickly outpacing sales from last year even with less active listings.  All this can be explained by the concept of what is called a "seller's market" - when the number of buyers outnumbers the amount of inventory available.  Think of it in terms of supply and demand: as the supply of houses decrease, the demand for them increases.  This puts sellers at an incredible advantage as more buyers are out there who are interested in purchasing your home.

To take advantage of this current seller's market, please contact me regarding any of your needs and questions about your property.  I will gladly provide you with a free market analysis to come up with a listing price for your home and discuss any questions or concerns you may have.  Also, by utilizing proven marketing techniques I will aid you in getting top dollar for your home.  Please, call me now to make the most of this HOT seller's market while it lasts.