
$943,710
Average Sales Price
⬆︎ 16.9% Year Over Year
If you’re thinking about stepping into the real estate market as a buyer or considering selling your home, it's important to have a good understanding of what’s going on in the GTA market.
Knowing the most important data such as the average sales price, the number of homes sold, and days on market will better prepare you to sell your home.
The August 2020 market report showcases everything you need to know about local real estate trends.
SCROLL down to see both the Toronto CONDO and Freehold market data along with all currently listed properties for sale.
⬆︎ 16.9% Year Over Year
Supply dropped from 1.9 months from last month
Down 26.1% Year Over Year
refers to the average number of days sold listings were on the market
refers to the average number of days a property was on the market before selling irrespective of whether the property was listed more than once by the same combination of seller and brokerage during
the original listing contract period.
39% of the homes listed did not sell. NOTE: They may have terminated or suspended from the market and relisted at a new listing price.
⬆︎ 24.7%
New Listings
⬇︎26.1%
LDOM (listing days on market)
⬇︎16.3%
Active Listings
⬆︎ 29.5%
Closed Sales
All Toronto Condominium New To Market For Sale
New Listings up from previous month 3,269
LDOM
Active Listing
Up 8.8% Year Over Year
905 Avg Price $527,117
All Toronto Homes New To Market For Sale
New Listings
LDOM
Active Listing
Up 25.5% Year Over Year
905 Homes Avg $1,060,318
All Toronto Homes New To Market For Sale
New Listings
LDOM
Active Listing
Up 20.0% Year Over Year
905 Avg $773,513
TORONTO, ONTARIO, AUGUST 6, 2020 - Toronto Regional Real Estate Board President Lisa Patel announces that Greater Toronto Area REALTORS® reported 11,081 sales through TRREB’s MLS® System in July 2020 – a 29.5 per cent increase over July 2019 and a new record for the month of July. On a preliminary seasonally adjusted basis, sales were up by 49.5 per cent compared to June 202
Year-over-year sales growth was driven by low-rise home types, particularly in the regions surrounding the City of Toronto. However, condominium apartment sales were also up on an annual basis, including in Toronto
Total new listings were also up strongly on a year-over-year basis by 24.7 per cent, but this annual growth rate was less than that of sales, which means market conditions tightened on average compared to July 2019. In addition, active listings at the end of July were down by 16.3 per cent
“Sales activity was extremely strong for the first full month of summer. Normally we would see sales dip in July relative to June as more households take a vacation, especially with children out of school. This year, however, was different from pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes a firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings,” said Ms. Patel
The July 2020 MLS® Home Price Index (HPI) Composite Benchmark was up by 10 per cent compared to July 2019. The overall average selling price was up by 16.9 per cent year-over-year to $943,710. On a preliminary seasonally adjusted basis, the average selling price was up by 5.5 per cent compared to June 202
Price growth was strongest for low-rise home types, notably within the City of Toronto. Despite a more balanced market conditions in the condominium apartment market segment, year-over-year price growth remained in the high single digit
“Competition between buyers continued to increase in many segments of the GTA ownership housing market in July, which fueled a further acceleration in year-over-year price growth in July compared to June. On top of this, we also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS® HPI Composite benchmark,” said Jason Mercer, TRREB’s Chief Market Analyst
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