Toronto Real Estate Market Update - December 2020
If you’re thinking about selling your home, it's important to have a good understanding of what’s going on in the Toronto market.
Knowing the most important data such as the average sales price, the number of homes sold, and days on market will better prepare you to sell your home.
My December market report showcases everything you need to know about the local Toronto real estate trends.
While the housing market as a whole recovered strongly in 2020, there was a dichotomy between single-family homes and condominiums. 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.
$894,576
Average Sales Price
↑ 1.1% Since same time last year
43
Average Days on Market
2
Months of Supply
1,475,758
Detached Average
Sales Price
↑ 8.2% Since same time last year
1,160,108
Semi-Detached
Average Sales Price
↑ 15.5% Since same time last year
1,125,972
Row/Townhouse
Average Sales Price
↑ 17.7% Since same time last year
625,828
Condo Apartment
Average Sales Price
↓ 4.6% Since same time last year
730,742
Condo Townhouse
Average Sales Price
↑ 13.7% Since same time last year