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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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TheRedPin is a different kind of brokerage. We are focused on delivering an exceptional real estate experience to all of our customers. TheRedPin is leading the way by using innovative technologies and a team of savvy marketers to provide buyers and sellers with unique end-to-end services and benefits, not found at other traditional brokerages. Through our services, our client's homes are exposed to over 5 million people. Plus, we have real estate agents that specialize in your neighbourhood that are full time, salary based employees who receive bonuses based on your selling experience. We feature an award-winning website - home to more listings than any other real estate site, exclusive VIP listings for new and pre-construction projects and great incentive programs for both buyers and sellers. To learn more about TheRedPin, Brokerage, please visit our company information. Follow our Google Plus business page for further listings. For our cash back policy please see our rebate program.