Looking back at 2020, it was one record-breaking month after another in Toronto real estate. This is because mortgage rates are so low [i.e. 1.6%] and “Home” is everything now including one’s workplace, school and sanctuary.

Highlights from 2020 include:

  • 95,151 sales were reported through TRREB’s MLS® System – up by 8.4 per cent compared to 2019. This included a record result for the month of December, with 7,180 sales – a year-over-year increase of 64.5 per cent.
  • Year-over-year sales growth was strongest in the GTA regions surrounding Toronto, particularly for single-family home types.
  • The average selling price reached a new record of $929,699 – up by 13.5 per cent compared to 2019. This included an average price of $932,222 in December – a year-over-year increase of 11.2 per cent. The strongest average price growth was experienced for single-family home types in the suburban regions of the GTA.
  • After a pronounced dip in market activity between mid-March and the end of May, market conditions improved dramatically in the second half of the year, with multiple consecutive months of record sales and average selling prices.

“While the housing market as a whole recovered strongly in 2020, there was a dichotomy between the single-family market segments and the condominium apartment segment. The supply of single-family homes remained constrained resulting in strong competition between buyers and double-digit price increases. In contrast, growth in condo listings far-outstripped growth in sales. Increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices during the last few months of the year,” said Jason Mercer, TRREB Chief Market Analyst. [*]

Toronto Real Estate Monthly Market Report December 2020

Toronto Stats this Past week

MLS activity from January 6 to 12 for residential properties:

↑ For Sale:

4,238

↑ Newly Listed:

835

↑ Sold:

266

↑ For Rent:

11,017

Compare the above to the week before from December 30 to January 5 when there were 4,188 for sale, 495 newly listed, 201 sold & 10,760 for rent.

TODAY’S NEWEST LISTINGS

TORONTO HOUSES FOR SALE

Under $950k $950k to $1.2M $1.2M to $1.6M
$1.6M to $2M $2M to 3M

Over $3M  


TORONTO CONDOS FOR SALE

Under $500k $500k to $600k $600k to $700k
$700k to $800k $800k to $1M Over $1M

OTHER

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(Email or call me directly for specific sold or off-market properties)

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