GTA Real Estate Market December 2020 TRREB Report
GTA Real Estate Market December 2020 Summary
GTA Real Estate Summary for 2020
Despite the unprecedented times due to COVID-19, GTA 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 fueled and sustained the housing market recovery, as per TRREB President, December 2020 Market Watch report.
Highlights from 2020 include:
- 95,151 sales were reported through TRREB’s MLS® System, which is up by 8.4% compared to 2019.
- 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, which is up by 13.5% compared to 2019.
- 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
Read Full TRREB Market Watch December 2020 Market Watch Report
Sales & Average Home Price by Major Home Type: 416 vs. 905 Areas of the GTA
|SALES & AVERAGE PRICE BY MAJOR HOME TYPE|
Average Prices by Home Type – December 2020
|Detached Home Average Price by City – December 2020|
|Detached||Semi-Detached||Condo Towns||Condo Apartment|
View TRREB December 2020 Market Watch for Prices for other Cities.
Search For Sales Listings in Mississauga & Other Parts of the GTA.
Source: TRREB Oct 2020 Market Watch