Dec 2020
No economist or Realtor could have predicted that despite this past unprecedented year due to COVID-19, so many homes would have traded.
This included an average price of $932,222 in December which had a year-over-year increase of 11.2 %.
The strongest average price growth was experienced for single-family home types in the suburban regions of the GTA.
Sales growth was strongest in the GTA's regions surrounding Toronto, in markets like Brampton, Durham Region and Oakville where supply of available homes for sale dropped substantially during a time of insatiable buyer demand
The City of Toronto saw strong price growth with prices up over 11%, however, the total volume of sales was down slightly, just over 1% in 2020.
The new condo construction market saw continued strength as we wrapped up the year with many new launches seeing continued strong demand as real estate continues to be a safer place to invest.
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.
If you have any questions about purchasing new construction or simply investing in real estate
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