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November 2012 Real Estate Sales – Positive Change in the Markets

City of Toronto

We hear a lot of talk about the markets becoming worse, or going down hill and how we should all panic. Too often, much of the speculation is just based on personal opinion.

Let’s put something straight: the real estate market is not crashing. It’s adjusting. For any shift in economic conditions, markets need to adjust themselves. They may take a day, a year or 10 years, but it will eventually adjust as various individual factors fix themselves.

One promising piece of information came from a RealNet report, outlining the market results for November 2012. The highlight? November 2012 was the 5th best month for high-rise sales in the GTA, on a 13-yr average. It has also been the 4th highest year-to-date high rise sales on records, 15% higher than the long-term average. The increase in sales can be attributed to the strong performances of the following condominium projects: Ten York, Haven on the Bluffs and College Condominiums.

November 2012 Sales - RealNet

November 2012 sales, compared on a 13 year period | Source: RealNet November 2012 Market Results

Another great piece of news: For the first time in 4 months, inventory of high-rise developments dropped, dropping the overall inventory on the market to 28,926.

These are just the beginning signs of the markets overall improvement. Hopefully these trends continue well into 2013.

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About the Author

TheRedPin, Brokerage is a real estate brokerage that does things differently, serving the GTA and select cities in Ontario. The brokerage has been leading the way with new efficiencies in the real estate industry, offering a customer-service oriented real estate experience with advanced technology and non-commissioned agents (who are paid on salary and given bonuses based on customer satisfaction). Additionally, the brokerage offers TheRedPin Rebate: a 25% cash back incentive. TheRedPin also features an award-winning website featuring more listings than any other real estate site. To learn more about TheRedPin, Brokerage, visit www.TheRedPin.com/company-info.