nest zoom
5000 Yonge St. Suite 1901 M2N7E9 Toronto, ON, Canada

Real estate still an essential service - an update on province-wide shutdown effective Dec 26th.

Real estate market stats - October 2020 Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row. Sales and new listings reached record levels for the month of October. However, year-over-year growth rates for sales and new listings diverged in some market segments. ... In the detached market segment, the pace of annual sales growth far outstripped growth in new listings. Conversely, the condominium apartment market segment experienced more than double the new listings compared to October 2019, whereas sales were only up by 2.2% over the same period. 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 cash flows for many investors.

Real estate market stats - September 2020 Following a record third quarter, sales through the first nine months of 2020 were up by approximately one percent 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, woul...d 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 ground-oriented market segments, including detached and semi-detached houses and townhouses. Annual growth rates were also higher for sales reported in the GTA regions surrounding the City of Toronto. The September 2020 MLS Home Price Index Composite Benchmark was up by 11.6% year-over-year. The average selling price for all home types combined in September was $960,772 up by 14% year-over-year. Price growth was driven by the low-rise market segments. The relatively better supplied condominium apartment segment experienced a comparatively slower pace of price growth.

Real estate market stats - July 2020 Greater Toronto Area reported 11,081 sales in July 2020 a 29.5 % increase over July 2019 and a new record for the month of July. On a preliminary seasonally adjusted basis, sales were up by 49.5 % compared to June 2020. Year-over-year sales growth was driven by low-rise home types, particularly in the regions surrounding the City of Toronto. However, condominium apartment sales were also up on an annual basis, including in Toronto.... Total new listings were also up strongly on a year-over-year basis by 24.7 %, but this annual growth rate was less than that of sales, which means market conditions tightened on average compared to July 2019. In addition, active listings at the end of July were down by 16.3 %. Sales activity was extremely strong for the first full month of summer. Normally we would see sales dip in July relative to June as more households take vacation, especially with children out of school. This year, however, was different with pent-up demand from the COVID-19-related lull in April and May being satisfied in the summer, as economic recovery takes firmer hold, including the Stage 3 re-opening. In addition, fewer people are travelling, which has likely translated into more transactions and listings. The July 2020 MLS Home Price Index (HPI) Benchmark was up by 10 % compared to July 2019. The overall average selling price was up by 16.9 % year-over-year to $943,710. Price growth was strongest for low-rise home types, notably within the City of Toronto. Despite more balanced market conditions in the condominium apartment market segment, year-over-year price growth remained in the high single digits. We also experienced stronger sales growth in the more-expensive detached market segment, which helps explain why annual growth in the overall average selling price was stronger than growth for the MLS HPI Composite benchmark.

Real estate market stats - June 2020 Toronto real estate board reported 8,701 sales in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89%) and seasonally adjusted basis (+84%), and was only down by 1.4% compared to June 2019. Year-over-year growth in sales was reported in some areas and market segments. Especially notable were the detached and townhouse market segments in the GTA regions surrounding the... City of Toronto. New listings were up slightly on a year-over-year basis by 2.1%. However, active listings on MLS System at the end of June 2020 were down by 28.8% compared to June 2019. Growth in new listings will need to outstrip growth in sales for a number of months before active listings approach last year’s levels. The MLS Home Price Index Composite Benchmark was up by 8.2% year-over-year in June. The average selling price for all home types combined was $930,869 up by 11.9% compared to June 2019. The actual and seasonally-adjusted average selling price was also up substantially compared to May 2020, by 7.8% and 9.8% respectively. Average and benchmark selling prices were up year-over-year for all major home types. The strongest average annual rates of price growth were experienced in the detached and semi-detached market segments in the City of Toronto at 14.3% and 22% respectively. This, coupled with the fact that average selling price growth outstripped growth in the MLS HPI benchmarks, points to a resurgence in the higher-end market segments. #nestzoom #toronto #realestate #torontorealestate #torontohomes #marketstats #marketupdate

Real Estate Market Stats - May 2020 Toronto, reported 4,606 sales in May 2020. This was down by 53.7% compared to May 2019. While the number of sales was down substantially on a year-over-year basis due to the continued impact of COVID-19, the decline was less than the 67.1% year-over-year decline reported for April 2020. On a month-over-month basis, actual and seasonally adjusted May sales were up substantially compared to April. Actual May 2020 sales increased by 55.2...% compared to April 2020. After accounting for the regular seasonal increase that is experienced each year between April and May, seasonally adjusted sales were up by 53.2% month-over-month. The number of new listings entered in May was down by a similar annual rate to that of sales, dipping by 53.1% to 9,104. On a month-over-month basis, actual new listings were up by 47.5%. The MLS Home Price Index Composite Benchmark price was virtually unchanged in May 2020 compared to April 2020. On a year-over-year basis, the composite benchmark was up by 9.4%. The average selling price for all home types combined was up by 3% compared to May 2019 to $863,599. On a seasonally adjusted basis, the average selling price was up by 4.6% month-over-month compared April 2020. The difference in year-over-year growth between the MLS HPI Composite Benchmark and the average selling price was related to the fact that home sales in the City of Toronto, particularly in the detached segment, were down by a greater annual rate than overall sales in the GTA. This resulted in a compositional impact on the overall average selling price.