fbpx
We found 0 results. View results
Advanced Search
we found 0 results
Your search results

Real Estate Market Watch – October 2020

Posted by Thomas on November 24, 2020
| 0

On this page, you can find VIP Condos Toronto’s summary of the Toronto Regional Real Estate Board (TRREB)’s October 2020 real estate market watch, with info on prices & trends in the region’s housing market. VIP’s report will provide information such as market outlooks & news in October 2020, along with specific info on condo & home prices in the GTA:

Market Update - October 2020

TRREB Real Estate Market Watch - October 2020 - GTA Condo & Home Price Outlook

October 2020 Real Estate Market Watch: Residential Transactions

  • 10,563 residential home transactions took place in October 2020, up from 8,445 in October 2019 – an increase of 25.1%.
  • When seasonal adjustments are taken into account, there was a 4% decline in the number of purchases from September (9,775) to October (9,387).

Average Selling Prices

  • The average sale price for October 2020 was $968,318. This is an increase of 13.7% over October 2019, when it was $851,877.
  • With seasonal adjustments, prices saw a 0.3% increase from September 2018 (from $950,849 to $954,003).

New Listings

  • There were 17,802 listings available for October 2020, which is a 36.4% increase over October 2019 (when there were 13,053).
  • The sales-to-listings ratio has decreased by 6% from September 2020, from 65% to 59%.

October 2020 Real Estate Market Watch: Days On The Market

  • The average property spent 24 days on the market, compared to 33 last year – a decrease of 27.3%.
  • Listings spent an average of 17 days on the market, which is a 26.1% decrease from this month last year.

 

Click Here to Read TRREB’s Full Real Estate Market Watch Report for October 2020

 

In order for you to use these monthly market updates to your advantage, our informative guide for buying pre-construction properties can be found at the bottom of this page. It will answer common questions such as:

  • How do I get my down payment?
  • Can I use my RRSP for my down payment?
  • How can I make the profits from my pre-construction purchases tax-free?
  • What incentives are available for first-time buyers?
  • What type of home or mortgage can I afford?
  • What is a PDI?
  • What are the pros & cons of buying or selling an assignment before closing?

We at VIP Condos are pleased to offer further information regarding outlooks & prices in the GTA’s home & condo markets – both for October 2020 and beyond. Check out our full series of real estate market watch reports, as well as our home & condo market outlook for 2021.

Related Topics

Compare Listings