We can’t imagine what it was like analyzing home sales before fancy technology like the interwebs and ultra-fast computers existed.
We’re guessing it was something like you’d see in the Flintstones; only in this case, Fred would work in housing market analysis instead of construction.
Okay, enough with the nostalgia, let’s get on to the numbers! October existing home sales in the GTA market rose by an astounding 17.5 per cent from a year ago, according to the Toronto Real Estate Board.
These strong number have been credited with beefing up the national average price. The average sales price in the GTA was $478,137 last month, an 8 per cent increase from October 2010.
What does Jason Mercer, the board’s senior manager of market analysis, think of all this? Glad you asked!
He says “seller’s conditions” are in place throughout many parts of the GTA.
“Thanks to low interest rates, strong price growth has not substantially changed the positive affordability picture in the city of Toronto and surrounding places,” he says.
No need to thank us for making your Saturday a whole lot better. Torontonians just need to thank that sizzling housing market of theirs!