Average Sales Price All Home Types Combined
Hi. There has been lots of noise over the past few months regarding the health of our Real Estate market. IMHO, the major factors to be focussed on are the Condo market and the impact of Airbnb rule changes, first-time investors, employment, and affordability.
Since April, I have been actively helping many wonderful people, (some just like you), determine their real estate needs, navigate the sale of homes, and continue to help many purchase their next home. It is been a humble and inspiring time that continues to motivate and energize me to continue to deliver the level of professional real estate services built on the foundation of my business for decades - INTEGRITY - HONESTY - TRUST.
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 November 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.
More homebuyers are entering the market despite Covid-19 impacts driven primarily on low mortgage interest rates and long-haul beliefs that less total interest will be spent during the time of homeownership..
LDOM (listing days on market
Closed Sales. This is up 25/1% compared over October 2019
All Toronto Condominium New To Market For Sale
Average Sold Price $581,615
West Toronto Sold 312
Central Toronto Sold 894 (driven mostly by downtown Condominiums)
East Toronto Sold 232
Across the GTA Condominium average sold prices are flat with an increase (year over year) of 0.08%
All Toronto Homes New To Market For Sale
Average Sold Price $1,204,844
West Toronto Sold 422
Central Toronto Sold 331
East Toronto Sold 475
Across the GTA Freehold homes average sold price has risen (year over year) by 14.8%. When I split out 416 vs 905 the data shows that the 416 area increased by 11.2% and the 905 area increased by 18.0%
TORONTO, ON, November 4, 2020 – Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row. Our Members made 10,563 sales as reported through the Toronto Regional Real Estate Board’s MLS® System in October 2020. This was up by 25.1 per cent compared to 8,445 transactions in October 201
Sales and new listings reached record levels for the month of October. However, year-over-year growth rates for sales and new listings diverged in some market segments. In the detached market segment, the pace of annual sales growth far outstripped growth in new listings. Conversely, the condominium apartment market segment experienced more than double the new listings compared to October 2019, whereas sales were only up by 2.2 per cent over the same period.
“Competition between buyers of single-family homes, and particularly detached houses, remained strong last month and continued to support double-digit annual rates of price growth in many GTA neighborhoods. In contrast, condo buyers have benefitted from much more choice compared to last year. Pre-COVID polling had already pointed to an increase in investor selling in 2020. The pandemic only added to this trend with a stall in economic growth and a halt to tourism impacting cashflows for many investors,” said Lisa Patel, TRREB’s Presiden
The MLS® HPI Composite Benchmark was up by 10.8 per cent on a year-over-year basis in October 2020. The average selling price for all home types combined was $968,318 – up by 13.7 per cent compared to $851,877 in October 201
“Year-to-date home sales through October were above last year’s level. The economic recovery in some sectors coupled with low borrowing costs has kept home purchases top-of-mind for many GTA residents. With this being said, we have not accounted for all of the pent-up demand that resulted from the spring downturn. Expect record or near-record home sales for the remainder of 2020,” said Jason Mercer, TRREB’s Chief Market Analyst.
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