Market Update – September 2020

On in So How's the Market in Toronto by

In September, we continued to see our City come back to life, though we still have a ways to go, and hope you and your family will continue to stay well and keep safe.

We also saw incredible activity in the Toronto real estate market last month for the third month in a row!

Central Toronto REALTORS® reported 348 detached home sales through the Toronto MLS® in September 2020; and on average, these detached homes sold for $2,116,399.

Last year, in September 2019, Toronto MLS® reported 301 freehold detached home sales across Toronto – which is a 16% increase in volume for this year. It was also reported that on average, freehold detached homes sold for $1,881,635 in September 2019 and that’s a 12% increase in sale prices for this September!

With respect to semi-detached homes… Central Toronto REALTORS® reported 336 semi-detached home sales in September 2020; and on average, these semi-detached homes sold for $1,309,932 last month.

That compares to 235 semi-detached home sales in September 2019 – which is a 43% increase in volume for this year. But again, it was also reported that on average, semi-detached homes sold for $1,212,279 in September 2019 and that’s an 8% increase in sale prices for this September!

With respect to condo sales… Central Toronto REALTORS® reported 903 condo sales in September 2020; and on average, these condos sold for $804,366 last month.

In September 2019, there were 799 condo sales – which is a 13% increase in volume for this year. On average, these condos sold for $770,055 – and that’s a 4% increase in sale prices for this September!

Given the strength and resilience of the Toronto Real Estate market going into this pandemic, we had little doubt that it would recover rather quickly.

 

 

 

 

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