This November, Ontario Real Estate Board (OREB) members sold 990 residential properties which is an 11 percent increase from November 2014. Residential property sales also surpassed the average sales for the past 5 years in November by just under 50 properties.
November also saw an increase in condo sales which is great news for REALTORS®. The president of OREB believes that this increase is due to the change in government. Not to mention, the year to date condo sales have already surpassed last years, although the average days on market has increased to 104. With that being said, an increased average days on market is to be expected at this time of year.
Moreover, the average residential sale price has decreased by 0.4 percent from November of last year, yet the average condo sale price has increased by 9.9 percent. The price range of these sales remains mostly between $300,000-$400,000.