Average Sales Price All Home Types Combined
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 December 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.
Have questions...don't hesitate to ask me.
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.
40% of the homes listed did not sell. NOTE: They may have terminated or suspended from the market and relisted at a new listing price.
At least one bank is now offering 1% mortgages...catch is you have to apply as an insured mortgage (meaning less than 20% downpayment)..
LDOM (listing days on market
All Toronto Condominium New To Market For Sale
Average Sold Price $640,208
West Toronto Sold 317
Central Toronto Sold 855 (driven mostly by downtown Condominiums)
East Toronto Sold 203
Sales - up from previous month
All Toronto Homes New To Market For Sale
Average Sold Price $1,215,000
West Toronto Sold 295
Central Toronto Sold 257
East Toronto Sold 381
Across the GTA Freehold homes average sold price has risen (year over year) by 15.2%. When I split out 416 vs 905 the data shows that the 416 area increased by 8.7% and the 905 area increased by 19.2%
The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS® through the Toronto Regional Real Estate Board’s (TRREB) MLS® System. This result was up by 24.3 per cent compared to November of last year.
Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the ‘416’ area code as well. “Homebuyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of a single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA, which has continued to support double-digit annual rates of price growth,” said Lisa Patel, TRREB President.
The MLS® HPI Composite Benchmark was up by 10.6 per cent in November 2020 compared to November 2019. The average selling price for all home types combined was up by 13.3 per cent to $955,615.
Market conditions tightened in many single-family market segments in November, resulting in double-digit year-over-year increases in average selling prices for detached houses, semi-detached houses, and townhouses.
In contrast to the single-family market segments, buyers continued to benefit from much more choice in the condominium apartment market compared to last year, particularly in the City of Toronto. The number of new condominium apartment listings in November was almost double that reported in November of last year. More options in the condo apartment market translated into a small year-over-year decline in the average condominium apartment selling price in the ‘416’ area code.
“The condominium apartment market is certainly more balanced than in previous years, with some buyers benefitting from lower selling prices compared to last year. However, this may be somewhat of a short-term phenomenon. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets,” said Jason Mercer, TRREB Chief Market Analyst.