To make sure our customers receive accurate and relevant data about the real estate market, Blue Door performs a thorough analysis of the City of Toronto market based on the latest Toronto Regional Real Estate Board (TRREB) market watch report. Furthermore, the year 2020 requires special attention, which is why we continue looking at market dynamics from a month-to-month perspective.
The October 2020 TRREB report indicates a 5.8% increase in the number of detached homes sales compared to September 2020 and a 19.6% increase compared to last year. The average price of detached homes decreased by 1.1% versus September and grew by 11.2% over the year.
The number of active listings for condo apartments continues to grow with a 5.5% increase over the month and a 2.6% drop in average price. Townhouses have also decreased in average price by 4.4%. If you are on the market for a purchase, we recommend considering these two home types. However, the number of listings for townhouses has fallen by 5.6%, so be ready for the competition!
The average price of semi-detached homes has increased by 0.7% compared to the last month, and the number of active listings has decreased by 12%.
For more information, check out the full TRREB report.