Do you want content like this delivered to your inbox?
Share

Toronto Market Report

September 2020


Share

Toronto Real Estate Market Update - September 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...

Oct 7 3 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 September market report showcases everything you need to know about the local Toronto real estate trends.

The number of sales reported in the Greater Toronto Area amounted to 11,083 – a new record for the month of September. This result was up by 42.3 per cent compared to September 2019.

Following a record third quarter, sales through the first nine months of 2020 were up by approximately one per cent compared to the same period in 2019.

Improving economic conditions and extremely low borrowing costs sustained record-level sales in September, as we continued to account for the substantial amount of pent-up demand that resulted from the spring downturn. Further improvements in the economy, including job growth, support strong home sales moving forward. However, it will be important to monitor the trajectory of COVID-19 cases, the related government policy response, and the impact on jobs and consumer confidence.

Year-over-year sales growth in September continued to be driven by detached and semi-detached houses and townhouses. The relatively larger supplied condominium market experienced a comparatively slower pace of price growth. Annual growth rates were also higher for sales reported in the GTA regions surrounding the City of Toronto.

On a GTA-wide basis, market conditions tightened in September relative to last year, with sales increasing at a faster pace than new listings. With competition between buyers increasing noticeably, year-over-year price growth was commonplace, resulting in the overall average selling price reaching a new record.

 

$1,022,051

Average Sales Price

11.9% Since same time last year

23

Average Days on Market

1.8

Months of Supply

 

1,487,122

Detached Average 

Sales Price


 9.3% Since same time last year

1,145,559 

Semi-Detached 

Average Sales Price


↑ 7.1% Since same time last year

1,118,632

Row/Townhouse

Average Sales Price


 13.2% Since same time last year

 

686,191

Condo Apartment 

Average Sales Price


 7.8% Since same time last year

735,544

Condo Townhouse 

Average Sales Price


↑ 5.2% 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. 

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info