The Greater Toronto Area REALTORS® reported over 95,000 home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000.
“The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery,” said Lisa Patel, Toronto Regional Real Estate Board (TRREB) President.
Detached
416: 657
905: 2,381
Total: 3, 038
Average Price: $1,240,632
Number of Sales: 3,038
Increase per Year: 17.07%
Source TRREB Market Watch, Dec. 2020
Town House
416: 296
905: 986
Total: 1,282
Average Price: $871, 201
Number of Sales: 1, 282
Increase per Year: 14.1%
Source TRREB Market Watch, Dec. 2020
Condo Apt
416: 1,551
905: 642
Total: 2,193
Average Price: $600,840
Number of Sales: 2,193
Increase per Year: -2.0%
Source TRREB Market Watch, Dec. 2020
Stay tuned as we continue to highlight the GTA real estate market and the projects that we will be launching soon.