*October Stats 2016  are out and the Toronto Market broke all records!  AGAIN.

*Sales were up by almost 12% …driven largely in the city by condo sales.

*Average sale prices SOARED by 21% to $763,000

*New listings were flat to last year at this time and total listings PLUNGED by 35%

*Days on market also TOOK A DIVE by 27% to 16 days (from 22 last year)

*Condo sales ROSE by 22% and now the average sale prices are rising in the DOUBLE DIGITS …

*Condos are now 13% more expensive, on average, at a whopping $429, 000.

** The break in Land Transfer Taxes for first time buyers in the condo market came just in time.  This should be a help and will likely boost sales as well.  See my Recent BREAKING NEWS blog for more details!

 

 

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