2021...A year like no other?
Saturday Jan 09th, 2021Share
Well Here is 2021. Let us all hope it will be a rebound year for everyone.
Here is some great #Realestate stats for December compared to November. And December 2020 compared to December 2019.
It looks like based on the figures that 2021 is going to surpass 2020. Which is a good thing for homeowners considering a move. Why is that...more money for your home and with the lowest mortgage rates in history...which means you can get more home which will cost less for a homebuyer.
With around 7,180 transactions reported this means that total sales were up over 60% in December 2020 Compared to December 2019. This means that the average price of a Toronto property climbed around the 11% point compared to last year.
Good thing to note that there was definitly a difference in the outcome in detached homes compared to the condo market. The supply of single-family homes remained constrained resulting in strong competition between buyers and double-digit price increases. The growth in condo listings increased compared to the growth in sales. The increase for choice in the condo market led to more bargaining power and a year-over-year dip in average condo selling prices during the last few months of the year.
The next 12 months will be one of the most important time frames to get back to some what a normal real estate market in the coming quarters of 2021. The impact of continuation of immigration and the re-opening of the economy will be key to getting back to some sort of normacy. Time will tell what we do now and how it will affect the short term and long term affects.
December 2020 Activity compared to November 2020:
December 2020 Activity compared to December 2019: