Toronto, October, 2020  Year-to-date home sales through October were above last year’s level. The economic recovery in some sectors coupled with low borrowing costs has kept home purchases top-of-mind for many GTA residents. With this being said, we have not accounted for all of the pent-up demand that resulted from the spring downturn. Expect record or near-record home sales for the remainder of 2020,” said Jason Mercer, TRREB’s Chief Market Analyst. (READ MORE)

TORONTO, ONTARIO, October 23, 2020  The condo market became much better supplied as many investors moved to sell their units, due in part to softer rental market conditions and a short-term rental market that was impacted by stricter regulations and the COVID-19-related drop in tourism,” said Ms. Patel.

The overall average condominium apartment selling price was up by 8.3 per cent year-overyear in the third quarter to $633,484. The average selling price in the City of Toronto, at $680,963, was up by a similar rate over the same period.
“While condo buyers certainly benefitted from more choice in the third quarter compared to the past few years, there was still enough competition between buyers to support average selling prices substantially above last year’s levels. It is important to note that one quarter does not make a trend, either on the demand or supply sides of the market. How the
relationship unfolds between condo sales and listings over the next three to six months will dictate the longer-term direction for selling prices,” said Jason Mercer, TRREB’s Chief Market Analyst. . (READ MORE)

BLOGS

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