Ontario Home Sales Set New November Record

Residential sales activity reported through the MLS® Systems of real estate Boards and Associations in Ontario numbered 17,796 units in November 2016, an increase of 12.6 per cent from a year earlier.

This was the highest November sales figure on record and marked the first time November sales had ever broken through the 16,000 mark.

Nationally, home sales activity edged up 1.6 per cent from year-ago levels in November 2016, largely once again on Ontario’s strength.

Provincial year-to-date home sales were running 9.6 per cent above the first 11 months of 2015. The 232,094 homes that have traded hands so far this year put 2016 well on track to set a new annual record.

The provincial average price for homes sold in November 2016 was a record $571,696, rising 21.2 per cent from a year earlier.

The national average price, by comparison, rose 7.3 per cent on a year-over-year basis to $489,591.

The year-to-date average price for Ontario was $535,923, rising 14.9 per cent from a year earlier.

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