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October Market Report

November 8, 2012
Average Price Up in October, Despite Fewer
Average Price Up in October, Despite Fewer Sales
Sales Transactions Decrease In October
Greater Toronto Area REALTORS® reported 6,896 transactions through the Toronto MLS system in October 2012 – a decrease of 7.1 per cent compared to October 2011. There were two more business days in October 2012 versus October 2011. On a per business day basis, transactions were down by 15.6 per cent.

Average Selling Price Up 6.2% Over Last Year
The average selling price for October transactions was $503,479 – up 6.2 per cent compared to October 2011. The MLS® Home Price Index composite benchmark price, which allows for an apples-to-apples comparison in terms of home attributes, was up by 5.1 per cent.

Boomers Turning to Real Estate to Help them Save
Some 87% of boomers have seen their homes skyrocket in value, nearly half reporting gains of 50% or more, especially in cities like Toronto, Vancouver and Calgary, a recent report notes.  Many Baby Boomers are buying the most expensive house they can afford in their 50s, with the notion of cashing out as they ready for retirement.   Click Here To Read The Article.
First Time Buyers Get Help with
Government Programs
As a first time buyer are you aware of all the Government Incentives available to you.   Take advantage of the Closing Cost Credits, RRSP Withdrawal Benefits and Land Transfer Tax Rebates.  Call for Info!



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Statistics Corner

Average Sales Activity

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Michael Kelly Sales Representative

Sutton Group Realty Systems Brokerage

Independently owned and operated

1528 Dundas Street West, Mississauga ON, L5C 1E4

Office: 905-896-3333

Fax: 905-848-5327

Mobile: 647-408-5226

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