Year-over-year stats improved. Although sales slowed slightly from September, average prices of homes went up except for condo apartments. These were still overall record numbers for the time of year. TRREB expects the pent-up demand activity to continue.
Strong buyer activity continued into September due to favourable borrowing conditions and pent up demand. Sales of all residential building types saw positive trends, especially low rise.
August market was hot with 20% price growth and 40% increased volume from last year. This is credited to improving economic conditions, more buyers and sellers staying local rather than vacationing, and favourable borrowing conditions.
We have strong growth in July coinciding with Stage-3 reopening, fewer people travelling, and economic recovery. Almost 50% more transactions occurred compared to the previous month.
Big leaps in prices compared last month and last year! Higher end segments saw the most significant push. Volume of sales and active listings are at decent levels.
Sales inventory and volume continue to be lower than the same period last year. HOWEVER, there has been a little over 50% increase in sales volume from April 2020 and average prices continue to see modest gains.
Average prices have flattened compared to last year but sales volume dropped 67%. There is some possible substitution effect happening with townhomes and semi-detached.
TRREB mentions there was significant shift in numbers when comparing sales from March 1-15 to March 16-30. About 58% of March # of sales are attributed to the first half of the month, higher than the same period in 2019. Meanwhile the other 42% of March # of sales in the later half of the month were lower than the same period in 2019.
Toronto Region Real Estate Board released their stats for January 2020 and there is strong positive momentum for sales.
Compared to last year, home prices are up 12.3%. Condos are driving the price increases but detached homes have also increased in price as well. However, there were also less active listings.
