Average Sales Price
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 July 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.
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.
LDOM (listing days on market
All Toronto Condominium New To Market For Sale
All Toronto Homes New To Market For Sale
Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 8,701 sales through TRREB’s MLS® System in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89 per cent) and seasonally adjusted basis (+84 per cent), and was only down by 1.4 per cent compared to June 2019.
Year-over-year growth in sales was reported in some areas and market segments. Especially notable were the detached and townhouse market segments in the GTA regions surrounding the City of Toronto. New listings were up slightly on a year-over-year basis by 2.1 per cent. However, active listings on TRREB’s MLS® System at the end of June 2020 were down by 28.8 per cent compared to June 2019. Growth in new listings will need to outstrip growth in sales for a number of months before active listings approach last year’s levels.
The MLS® Home Price Index Composite Benchmark was up by 8.2 per cent year-over-year in June. The average selling price for all home types combined was $930,869 – up by 11.9 per cent compared to June 2019. The actual and seasonally-adjusted average selling price was also up substantially compared to May 2020, by 7.8 per cent and 9.8 per cent respectively.
Average and benchmark selling prices were up year-over-year for all major home types. The strongest average annual rates of price growth were experienced in the detached and semi-detached market segments in the City of Toronto at 14.3 per cent and 22 per cent respectively. This, coupled with the fact that average selling price growth outstripped growth in the MLS® HPI benchmarks, points to a resurgence in the higher-end market segments.