➕‘the numbers’ for December are in. Sustained growth in key #torontorealestate market indicators vs 2019, continued through the last month of 2020. Of particular note, new listings were up +69% vs. December 2019, sales continue to be up +63% and the year-over-year gain in average price was +1% vs. December 2019.
The supply of single-family homes remained constrained resulting in strong competition between buyers. Annual single-family growth rates remained robust in the ‘416’ area code with increases in average selling prices for detached houses [+8%], semi-detached houses [+15%] and townhouses[+17%] vs. 2019.
Growth in condo listings far-outstripped growth in sales. This increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices compared to last year in the '416’ [-5%].
Looking to buy a home in Toronto? Average prices in December were as follows:
➕Detached $1,475,758
➕Semi-detached $1,160,108
➕Townhouse $842,902
➕ Condo $625,828
The supply of single-family homes remained constrained resulting in strong competition between buyers. Annual single-family growth rates remained robust in the ‘416’ area code with increases in average selling prices for detached houses [+8%], semi-detached houses [+15%] and townhouses[+17%] vs. 2019.
Growth in condo listings far-outstripped growth in sales. This increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices compared to last year in the '416’ [-5%].
Looking to buy a home in Toronto? Average prices in December were as follows:
➕Detached $1,475,758
➕Semi-detached $1,160,108
➕Townhouse $842,902
➕ Condo $625,828
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