18 August 2020 ~ 0 Comments

Toronto real estate in July is sizzling hot

This past July has been both hot in temperature as well as in housing activity and values throughout the GTA.

Both June and July are helping make up for a weak spring market in which many of us were in lockdown and only those in the most dire need were out buying or selling real estate.

In Toronto, demand continues to be very strong with all TTREB regions – Central, East and West averaging 102% sales-to-list percentage ratios across all housing types. Wow!

Led by semi-detached houses selling at a whopping 108% of their listed price, both townhomes and condos followed up with 104% and 103% respectively. Detached homes came in at 101% and this was brought down by the only area and housing type that averaged below 100%, which was central detached homes selling at 98% of their listed price.

These statistics in itself paint a similar picture to what was happening in Toronto pre-pandemic. “insert head scratch here”

The now average price of a detached home across Toronto is $1,541,000 semi-detached averages $1,181,000 with townhouses $852,284 & condos $683,000

New listings are up and active listings are down year-over-year. This is no surprise and also points to why we are seeing much higher average house prices. Condo listings are creeping up so it will be interesting to see how the next few months play out.

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