Welcome your December Real Estate Market Analysis and the end of 2020. Despite the unprecedented year due to Covid 19, the GTA and parts of the GTHA experienced (at the end of the year) a growth in sales and average selling prices. Supply vs demand was the story throughout 2020. I hope that 2021 will be better for those who were, and continue to be, greatly affected the virus. Here are your area results and highlights:
G.T.A. & PEEL AREA RESULTS
Hightlights for 2020:
- 95,151 sales were rported through TRREB's MLS® system - up by 8.4% compared to 2019.
- Year-over-year sales growth was trongest int he GTA regions SURROUNDING Toronto, particularly in the sing-family home types.
- The Average Selling Price reached a new record of 929,699 - up by 13.5% compared to 2019. this included the Average Selling price of $932,222 in December.
- After a pronounced dip in the market between mid-March and ethe end of May, conditions improved dramatically in the 2nd half of the year, with multiple consecutive months of record sales and average selling prices.
For your Peel Market Results please click here.
BURLINGTON AREA RESULTS
For your Burlington full report please click here. For your Milton and Oakville Market Results please click here
RAHB President Donna Bacher has this to say, "Despite being in either the Red Zone or Grey Zone, through December, we do no see the effects on the number of sales and new lisitngs that we did in the spring lockdown. This actiivty could be the result of continued low interest rates, coupled with increasing consumer confidence due to the approval of the Covid-19 vaccine in Canada."