Looking back to the September Home GTA Home Sales Statistic, there were 11,083 numbers of transaction which was up by 42.3% compare to last September. The average day on market was 16 days in September (which was 17 in August and 24 days in May). The average days on market in 2019 was 23 days.
When we look at the first 9 months of sales it was up by 1% compared to the same period last year. Low interest rate is still the main force to drive up the number of home sales. We see more homeowners moved from the City of Toronto to 905 areas i.e. Richmond Hill, Markham, Vaughan and etc. There were 4398 detached home transactions in 905 area, 719 in semi detached and 1495 townhouses which all these three were up over 50 % (63.6%, 55.6% and 55.7% respectively.
The average home price in the Greater Toronto Area was $960,772 which was increased by 7.8%. It was $842,421 in 2019 and $796,782 in 2018. Condo price in the City of Toronto still recorded a 7.8% increase which in September 2020 the price was $686,191. Lastly the average home price in Toronto was $1,022,051 (a 11.9% increased).
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1, 7 Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TRREB MLS® system between the first and last day of the month/period being reported. Past monthly and year-to-date figures are revised on a monthly basis.