Over 95,000 home sales and average selling prices reaching a new record of almost $930,000 is how the Toronto real estate market wrapped up 2020.
Sales rose by 8.4% from 2019, and December’s tally of 7,180 sales resulted in a 64.5% year over year increase. Average selling prices rose by 13.5% hit a new record of $929,699 in 2020, including an average price of $932,222 in December for an 11.2% year over year increase.
Toronto’s record pace of home sales continued through November, with 8,766 sales reported across the GTA. Year over year growth in sales of single-family homes was stronger in the regions surrounding the city, but annual growth rates remained robust in the 416.
A new record for the month of September, residential sales across the GTA hit 11,083 recorded transactions, an increase of 42.3% year over year. Driven by low-rise segments of detached, semi-detached houses and townhouses, September saw an increase of 14% in average sale price to $960,772 year over year across the GTA.
August was another record month for Toronto’s real estate market, with home prices staying as hot as the weather. Residential sales increased in August with 10,755 recorded sales – up an incredible 40.3% year over year – across the GTA. The major segment that revved