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Toronto Market Report

October 2020


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Toronto Real Estate Market Update - October 2020

Sylvia Schmidt

Enthusiasm and a zest for life are two of the driving forces behind my real estate practice – and my life...

Enthusiasm and a zest for life are two of the driving forces behind my real estate practice – and my life...

Nov 5 2 minutes read

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

Competition between buyers of single-family homes, and particularly detached houses, remained strong last month and continued to support double-digit annual rates of price growth in many GTA neighborhoods. In contrast, condo buyers have benefitted from much more choice compared to last year. Pre-COVID polling had already pointed to an increase in investor selling in 2020. The pandemic only added to this trend with a stall in economic growth and a halt to tourism impacting cashflows for many investors

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.

 

$1,025,925

Average Sales Price

10.9% Since same time last year

25

Average Days on Market

1.9

Months of Supply

 

1,470,857

Detached Average 

Sales Price


 11.2% Since same time last year

1,154,087 

Semi-Detached 

Average Sales Price


↑ 4.9% Since same time last year

1,068,860

Row/Townhouse

Average Sales Price


 8.8% Since same time last year

 

668,161

Condo Apartment 

Average Sales Price


 0.8% Since same time last year

722,117

Condo Townhouse 

Average Sales Price


↑ 0.9% Since same time last year


Homes Sold

102%

Sale-to-List Price


Curious about what
your home is worth now?

I'm able to explain what these numbers mean for you and your home's current market value. 

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