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 November market report showcases everything you need to know about the local Toronto real estate trends.

Home buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA.

In contrast to the single-family homes, buyers continued to benefit from much more choice in the condominium apartment market compared to last year. The number of new condominium apartment listings in November was almost double that reported in November of last year. More options in the condo apartment market translated into a small year-over- year decline in the average condominium apartment.

The condominium apartment market is certainly more balanced than in previous years, with some buyers benefitting from lower selling prices compared to last year. However, this may be somewhat of a short-term phenomenon. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets.