Guelph Market stats

June 2021 Market Statistics

June 2021 Market Statistics

GTA REALTORS® Release June 2021 Stats

June home sales were up compared to last year but remained below the March 2021 peak and were lower than the number of transactions reported for May 2021, consistent with the regular seasonal trend. The average selling price in June increased by double digits compared to last year as well, but the annual rate of increase moderated compared to the previous three months.

Greater Toronto Area REALTORS® reported 11,106 sales through TRREB’s MLS® System in June 2021 – up by 28.5 per cent compared to June 2020. Looking at the GTA as a whole, year-over-year sales growth was strongest in the condominium apartment segment, both in the City of Toronto and some of the surrounding suburbs. On a month over-month basis, both actual and seasonally adjusted sales continued to trend lower in June.

“We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. While the primary focus of policymakers has been artificially curbing demand, the only long-term solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region,” said TRREB President Kevin Crigger.

In all major market segments, year-over-year growth in sales well outpaced growth in new listings over the same period, pointing to the continuation of tight market conditions characterized by competition between buyers and strong price growth. On a month-over-month basis, both actual and seasonally adjusted average prices edged lower in June.

The June 2021 MLS® Home Price Index composite benchmark was up by 19.9 per cent year over year. The average selling price for all home types combined was up by 17 per cent over the same time period to $1,089,536. While price growth continued to be driven by the low-rise segments of the market, it is important to note that the average condominium apartment price was up by more than eight per cent compared to June 2020, well outstripping inflation.

Milton Summary:

Average Sale Price over this time last year:  + 16%

Number of Sales over this time last year:  +85.6 %

Oakville Summary:

Average Sale Price over this time last year:  + 26.7%

Number of Sales over this time last year:  +98.4 %

Burlington Summary:

Average Sale Price over this time last year:  + 23.1%

Number of Sales over this time last year:  +82.6 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 28.2%

Number of Sales over this time last year:  +40.4 %

Mississauga Summary:

Average Sale Price over this time last year:  + 19.6%

Number of Sales over this time last year:  +95.6 %

Guelph Summary:

Average Sale Price for June 2021   $ 726,013

Percent increase over this time last year +18.7%

Average Days on Market 11

Homes Sold in June 2021   #275  up +7.4%

Posted by Christine Pecharich in Blog Posts, Brampton, Burlington, Georgetown, Guelph, Halton Hills, Market Reports, Milton, Mississauga, Oakville, Toronto
May 2021 Market Statistics

May 2021 Market Statistics

GTA REALTORS® Release May 2021 Stats

Residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record and were below this year’s March peak. Despite a slight ebb in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May.

Greater Toronto Area REALTORS® reported 11,951 sales in May 2021 – more than double the result from May 2020, the second full month of the pandemic. May 2021 sales were below the May 2016 record of 12,789 but remained well above the average May sales of 10,336 for the 2010 through 2019 period. Often, May is the strongest sales month in any given year; however, 2021 results bucked this trend, with May sales below the 15,646 deals reported in March.

“There has been strong demand for ownership housing in all parts of the GTA for both ground-oriented home types and condominium apartments. This was fueled by confidence in economic recovery and low borrowing costs. However, in the absence of a normal pace of population growth, we saw a pullback in sales over the past two months relative to the March peak,” said TRREB President Lisa Patel.

The MLS® Home Price Index Composite Benchmark was up by close to 19 per cent year-over-year in May 2021. The average selling price across all home types was up by 28.4 per cent year-over-year, reaching a record $1,108,453. On a seasonally adjusted basis, the average price increased by 1.1 per cent between April and May 2021.

“While sales have trended off the March 2021 peak, so too have new listings. This means that people actively looking to purchase a home continue to face a lot of competition from other buyers, which results in very strong upward pressure on selling prices. This competition is becoming more widespread with tighter market conditions in the condominium apartment segment as well,” said TRREB Chief Market Analyst Jason Mercer.

Milton Summary:

Average Sale Price over this time last year:  + 30.6%

Number of Sales over this time last year:  +112.1 %

Oakville Summary:

Average Sale Price over this time last year:  + 30.6%

Number of Sales over this time last year:  +123.8 %

Burlington Summary:

Average Sale Price over this time last year:  + 22.9%

Number of Sales over this time last year:  +108.1 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 28.6%

Number of Sales over this time last year:  +60.9 %

Mississauga Summary:

Average Sale Price over this time last year:  + 21.2%

Number of Sales over this time last year:  +111.4 %

Guelph Summary:

Average Sale Price for May 2021   $781,254

Percent increase over this time last year +34.6%

Average Days on Market 10

Homes Sold in May 2021   #282  up +79.6%

Posted by Christine Pecharich
April 2021 Market Statistics

April 2021 Market Statistics

GTA REALTORS® Release April 2021 Stats

Home sales in the Greater Toronto Area (GTA) set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic. Bucking the regular seasonal trend, April 2021 sales actually declined month-over-month. A similar trend was noted for the number of new listings reported.

GTA REALTORS® reported 13,663 sales through TRREB’s MLS® System in April 2021 – a 12.7 per cent decrease compared to March 2021, but more than quadruple the number of sales reported in April 2020, when the economic impact of COVID-19 was arguably the worst. Compared to the ten-year sales average of 10,000 for the April 2010 to April 2019 period, the April 2021 sales result was up by 36.6 per cent.

New listings followed a similar track – down by 8.4 per cent compared to March 2021, but more than triple the number of new listings reported in April 2020. Compared to the ten-year new listings average for the April 2010 to April 2019 period, the April 2021 new listings count was up by 18.3 per cent.

“While sales remained very strong last month, many REALTORS® noted a marked slowing in both the number of transactions and the number of new listings. It makes sense that we had a pullback in market activity compared to March. We’ve experienced a torrid pace of home sales since the summer of 2020 while seeing little in the way of population growth. We may be starting to exhaust the pool of potential buyers within the existing GTA population. Over the long term, sustained growth in sales requires sustained growth in population,” said TRREB President Lisa Patel.

The MLS® Home Price Index Composite benchmark was up by 17.8 per cent year-over-year. The Composite benchmark also increased on a monthly basis, but the pace of monthly growth decelerated. The average selling price of $1,090,992 was up by 33 per cent compared to April 2020, but was basically flat relative to March 2021. This was in contrast to most years in the past when the average selling price increased between March and April.

“Despite a modest slowing in market activity in April compared to March, selling prices for all major home types remained very high. Low borrowing costs during COVID-19 clearly had an impact on the demand for and price of ownership housing. While the pace of price growth could moderate in the coming months, home prices will likely continue on the upward trend. Renewed population growth over the next year coupled with a persistent lack of new inventory will underpin home price appreciation,” said TRREB Chief Market Analyst Jason Mercer.

Milton Summary:

Average Sale Price over this time last year:  + 29%

Number of Sales over this time last year:  +106.4 %

Oakville Summary:

Average Sale Price over this time last year:  + 30.1%

Number of Sales over this time last year:  +114.8 %

Burlington Summary:

Average Sale Price over this time last year:  + 24.3%

Number of Sales over this time last year:  +100.1 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 32.5%

Number of Sales over this time last year:  +58.8 %

Mississauga Summary:

Average Sale Price over this time last year:  + 18.7%

Number of Sales over this time last year:  +101.5 %

Guelph Summary:

Average Sale Price for April 2021   $752,993

Percent increase over this time last year +34 %

Average Days on Market 7

Homes Sold in April  2021   #294  up +276.9%

Posted by Christine Pecharich
March Market Statistics

March Market Statistics

GTA REALTORS® Release March 2021 Stats

For the third straight month of 2021, record home sales continued in March across the Greater Toronto Area (GTA) with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.

GTA REALTORS® reported 15,652 sales in March 2021 – close to double that of March 2020. While sales were strong, it is important to remember that for the second half of March we are comparing against the initial impact of COVID-19 in the second half of March 2020 when sales activity dropped off dramatically. With this in mind, it is important to consider annual sales growth for the pre-COVID period (March 1 to 14, 2020) and COVID period (March 15 to 31, 2020):

– There were 6,504 sales reported during the first 14 days of March 2021 – up 41 per cent compared to the pre- COVID period in March 2020.

– There were 9,148 sales reported between March 15th and March 31st 2021, an increase of 174 per cent compared to the COVID period of March 2020. This is a stark reminder of the initial impact COVID-19 had on the housing market and overall economy a year ago.

For March 2021 as a whole, new listings were up 57 per cent year-over-year to 22,709. While representing a strong year-over-year increase, the annual growth rate for new listings was well-below that of sales.

The MLS® Home Price Index Composite Benchmark for March 2021 was up by 16.5 per cent compared to March 2020. The average selling price, at $1,097,565 was up by 21.6 per cent over the same period. Following the recent trend, low-rise home sales in regions surrounding the City of Toronto drove price growth.

Milton Summary:

Average Sale Price over this time last year:  + 25.7%

Number of Sales over this time last year:  + 77.1 %

 

Oakville Summary:

Average Sale Price over this time last year:  + 29.5%

Number of Sales over this time last year:  +74.1%

Burlington Summary:

Average Sale Price over this time last year:  + 24.9%

Number of Sales over this time last year:  +66.4%

Halton Hills Summary:

Average Sale Price over this time last year:  + 31.8%

Number of Sales over this time last year:  +23.1 %

Mississauga Summary:

Average Sale Price over this time last year:  +17.5%

Number of Sales over this time last year:  +62.9 %

Guelph Summary:

Average Sale Price for March 2021   $751,541

Percent increase over this time last year 27.3 %

Average Days on Market 6

Homes Sold in March 362  +62.3%

Posted by Christine Pecharich
February 2021 Market Statistics

February 2021 Market Statistics

GTA REALTORS® Release February 2021 Stats

Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto.

GTA REALTORS® reported 10,970 sales through TRREB’s MLS® System in February 2021 – a 52.5 per cent increase compared to 7,193 sales reported in February 2020. Looking at all areas of the GTA combined, the condominium apartment segment led the way with a 64 per cent sales increase compared to last year, with similar rates of increase in the ‘416’ and ‘905’ area codes.

“It’s clear that the historic demand for housing experienced in the second half of last year has carried forward into the first quarter of this year with some similar themes, including the continued popularity of suburban low-rise properties. It’s also evident that the supply of listings is not keeping up with demand, which could present an even larger problem once population growth picks up following widespread vaccinations later this year and into 2022,” said TRREB President Lisa Patel.

The MLS® Home Price Index Composite Benchmark was up by 14.8 per cent year-over-year in February 2021. Over the same period, the average selling price was up by 14.9 per cent to $1,045,488. While market conditions were tight throughout the GTA region in February, the detached, semi-detached and townhouse market segments in suburban areas were the drivers of average price growth, with annual rates of increase above 20 per cent in all three cases.

“In the absence of a marked uptick in inventory, the current relationship between demand and supply supports continued double-digit average home price growth this year. In addition, if we continue to see growth in condo sales outstrip growth in new condo listings in Toronto, renewed price growth in this market segment is a distinct possibility in the second half of the year,” said TRREB Chief Market Analyst Jason Mercer.

Milton Summary:

Average Sale Price over this time last year:  + 27.1%

Number of Sales over this time last year:  + 56.9 %

Oakville Summary:

Average Sale Price over this time last year:  + 24.4%

Number of Sales over this time last year:  +47.8 %

Burlington Summary:

Average Sale Price over this time last year:  + 20%

Number of Sales over this time last year:  +51.5 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 27.2%

Number of Sales over this time last year:  – 9.8 %

Mississauga Summary:

Average Sale Price over this time last year:  + 34.2%

Number of Sales over this time last year:  +81.9 %

Guelph Summary:

Average Sale Price for February 2021   $735,374

Percent increase over this time last year 23 %

Average Days on Market 6

Posted by Christine Pecharich in Burlington, Georgetown, Guelph, Halton Hills, Market Reports, Milton, Mississauga, Oakville
January 2021 Market Statistics

January 2021 Market Statistics

GTA REALTORS® Release January 2021 Stats

  • January 2021 home sales amounted to 6,928 – up by more than 50 per cent compared to January 2020. This strong start to 2021 included sales growth across all major segments including condominium apartments, both in the City of Toronto and surrounding GTA regions.
  • New listings were also up on a year-over-year basis in January, but not by the same annual rate as sales. This means market conditions tightened compared to January 2020, resulting in the continuation of double-digit growth in the MLS® Home Price Index and the average selling price.
  • The average selling price for January 2021 was up by 15.5 per cent to $967,885 year-over-year. The MLS® HPI Composite Benchmark was up by 11.9 per cent over the same period.
  • Price growth was driven by the low-rise market segments, while the average condo apartment price was down in Toronto. However, if we continue to see condo sales growth outstrip condo listings growth, we could start to see renewed growth in condo prices later this year.

Milton Summary:

Average Sale Price over this time last year:  + 26.4%

Number of Sales over this time last year:  +49.5 %

Oakville Summary:

Average Sale Price over this time last year:  + 26.5%

Number of Sales over this time last year:  +46.4 %

Burlington Summary:

Average Sale Price over this time last year:  + 15.3%

Number of Sales over this time last year:  +48.8 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 29.2%

Number of Sales over this time last year:  – 13.8 %

Mississauga Summary:

Average Sale Price over this time last year:  + 13.8%

Number of Sales over this time last year:  +44.6 %

Guelph Summary:

Average Sale Price for January 2021   $ 707,971

Percent increase over this time last year 35.3%

Average Days on Market 10

Posted by Christine Pecharich in Blog Posts, Brampton, Burlington, Georgetown, Guelph, Halton Hills, Market Reports, Milton, Mississauga, Oakville, Toronto
December 2020 Market Statistics

December 2020 Market Statistics

GTA REALTORS® Release December Stats

Despite an unprecedented year due to COVID-19, including necessary public health restrictions and uncertainty surrounding the economy, Greater Toronto Area REALTORS® reported over 95,000 home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000.

“The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery,” said Lisa Patel, Toronto Regional Real Estate Board (TRREB) President.

Highlights from 2020 include:

  • 95,151 sales were reported through TRREB’s MLS® System – up by 8.4 per cent compared to 2019. This included a record result for the month of December, with 7,180 sales – a year-over-year increase of 64.5 per cent.
  • Year-over-year sales growth was strongest in the GTA regions surrounding Toronto, particularly for single-family home types.
  • The average selling price reached a new record of $929,699 – up by 13.5 per cent compared to 2019. This included an average price of $932,222 in December – a year-over-year increase of 11.2 per cent. The strongest average price growth was experienced for single-family home types in the suburban regions of the GTA.
  • After a pronounced dip in market activity between mid-March and the end of May, market conditions improved dramatically in the second half of the year, with multiple consecutive months of record sales and average selling prices.

“While the housing market as a whole recovered strongly in 2020, there was a dichotomy between the single-family market segments and the condominium apartment segment. The supply of single-family homes remained constrained resulting in strong competition between buyers and double-digit price increases. In contrast, growth in condo listings far-outstripped growth in sales. Increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices during the last few months of the year,” said Jason Mercer, TRREB Chief Market Analyst.

Area  Average Selling Price Current Month Percent increase/decrease ytd Average DOM Current month
       
Milton  $                      860,487.00 14.9% 14
Oakville  $                   1,246,101.00 19.4% 23
Burlington  $                      899,511.00 14.2% 18
Halton Hills  $                      905,440.00 17.8% 17
Guelph  $                      638,487.00 16.0% 21
Mississauga  $                      881,769.00 16.0% 17
       

Milton Summary:

Average Sale Price over this time last year:  + 14.9%

Number of Sales over this time last year:  +9.6 %

Oakville Summary:

Average Sale Price over this time last year:  + 19.4%

Number of Sales over this time last year:  +11.5 %

Burlington Summary:

Average Sale Price over this time last year:  + 14.2%

Number of Sales over this time last year:  +18.9 %

 

Halton Hills Summary:

Average Sale Price over this time last year:  + 17.8%

Number of Sales over this time last year:  +19.7 %

Mississauga Summary:

Average Sale Price over this time last year:  + 16%

Number of Sales over this time last year:  +0 %

Posted by Christine Pecharich in Blog Posts, Burlington, Georgetown, Guelph, Halton Hills, Market Reports, Milton, Mississauga, Oakville, Toronto
November 2020 Market Statistics

November 2020 Market Statistics

GTA REALTORS® Release November Stats

The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS® through the Toronto Regional Real Estate Board’s (TRREB) MLS® System. This result was up by 24.3 per cent compared to November of last year.

Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the ‘416’ area code as well. “Home buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA, which has continued to support double-digit annual rates of price growth,” said Lisa Patel, TRREB President.

The MLS® HPI Composite Benchmark was up by 10.6 per cent in November 2020 compared to November 2019. The average selling price for all home types combined was up by 13.3 per cent to $955,615.

Market conditions tightened in many single-family market segments in November, resulting in double-digit year-over-year increases in average selling prices for detached houses, semi-detached houses and townhouses.

In contrast to the single-family market segments, buyers continued to benefit from much more choice in the condominium apartment market compared to last year, particularly in the City of Toronto. The number of new condominium apartment listings in November was almost double that reported in November of last year. More options in the condo apartment market translated into a small year-over-year decline in the average condominium apartment selling price in the ‘416’ area code.

“The condominium apartment market is certainly more balanced than in previous years, with some buyers benefitting from lower selling prices compared to last year. However, this may be somewhat of a short-term phenomenon. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets,” said Jason Mercer, TRREB Chief Market Analyst.

Area  Average Selling Price Current Month Percent increase/decrease ytd Average DOM Current month
       
Milton  $                      921,143.00 14.3% 12
Oakville  $                   1,276,051.00 19.1% 23
Burlington  $                      948,924.00 13.7% 19
Halton Hills  $                   1,000,255.00 17.5% 14
Guelph  $                      665,264.00 14.1% 9
Mississauga  $                      899,942.00 16.4% 12
Toronto Central  $                      796,874.00 7.9% 18

Milton Summary:

Average Sale Price over this time last year:  + 14.3%

Number of Sales over this time last year:  +7.7 %

Oakville Summary:

Average Sale Price over this time last year:  + 19.1%

Number of Sales over this time last year:  +9.9 %

Burlington Summary:

Average Sale Price over this time last year:  + 13.7%

Number of Sales over this time last year:  +17.1 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 17.5%

Number of Sales over this time last year:  +18.4 %

Mississauga Summary:

Average Sale Price over this time last year:  +16.4%

Number of Sales over this time last year:  -3.2 %

Toronto Summary:

Average Sale Price over this time last year:  + 7.9%

Number of Sales over this time last year:    -9.7%

 

Guelph Summary:

Average Sale Price over this time last year:  +14.1 %

Posted by Christine Pecharich
October 2020 Market Statistics

October 2020 Market Statistics

GTA REALTORS® Release October Stats

Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row. Our Members made 10,563 sales as reported through the Toronto Regional Real Estate Board’s MLS® System in October 2020. This was up by 25.1 per cent compared to 8,445 transactions in October 2019.

Sales and new listings reached record levels for the month of October. However, year-over-year growth rates for sales and new listings diverged in some market segments. In the detached market segment, the pace of annual sales growth far outstripped growth in new listings. Conversely, the condominium apartment market segment experienced more than double the new listings compared to October 2019, whereas sales were only up by 2.2 per cent over the same period.

“Competition between buyers of single-family homes, and particularly detached houses, remained strong last month and continued to support double-digit annual rates of price growth in many GTA neighbourhoods. In contrast, condo buyers have benefitted from much more choice compared to last year. Pre-COVID polling had already pointed to an increase in investor selling in 2020. The pandemic only added to this trend with a stall in economic growth and a halt to tourism impacting cashflows for many investors,” said Lisa Patel, TRREB’s President.

The MLS® HPI Composite Benchmark was up by 10.8 per cent on a year-over-year basis in October 2020. The average selling price for all home types combined was $968,318 – up by 13.7 per cent compared to $851,877 in October 2019.

“Year-to-date home sales through October were above last year’s level. The economic recovery in some sectors coupled with low borrowing costs has kept home purchases top-of-mind for many GTA residents. With this being said, we have not accounted for all of the pent-up demand that resulted from the spring downturn. Expect record or near-record home sales for the remainder of 2020,” said Jason Mercer, TRREB’s Chief Market Analyst.

Area  Average Selling Price Current Month Percent increase/decrease Average DOM
Milton  $                     916,717.00 13.8% 14
Oakville  $                  1,313,481.00 18.9% 21
Burlington  $                     917,013.00 13.5% 15
Halton Hills  $                     935,612.00 16.4% 14
Guelph  $                     620,000.00 15.9% 10
Mississauga  $                     878,276.00 16.5% 16
Toronto Central  $                  1,147,600.00 12.1% 18

Milton Summary:

Average Sale Price over this time last year:  + 13.8 %

Number of Sales over this time last year:  + 5.7  %

Oakville Summary:

Average Sale Price over this time last year:  + 18.9 %

Number of Sales over this time last year:  + 8.1  %

Burlington Summary:

Average Sale Price over this time last year:  + 13.5  %

Number of Sales over this time last year:  + 16.9  %

Halton Hills Summary:

Average Sale Price over this time last year:  + 16.4 %

Number of Sales over this time last year:  + 18.7  %

Mississauga Summary:

Average Sale Price over this time last year:  + 16.5 %

Number of Sales over this time last year:  – 5.7  %

Toronto (Central) Summary:

Average Sale Price over this time last year:  + 12.1 %

Number of Sales over this time last year:  – 8.6  %

Posted by Christine Pecharich in Burlington, Georgetown, Guelph, Halton Hills, Market Reports, Milton, Mississauga, Oakville, Toronto
September 2020 Market Statistics

September 2020 Market Statistics

GTA REALTORS® Release September Stats

Toronto Regional Real Estate Board President Lisa Patel announced that sales reported through

TRREB’s MLS® System by Greater Toronto Area REALTORS® amounted to 11,083 – a new record for the month of September. This result was up by 42.3 per cent compared to September 2019. Following a record third quarter, sales through the first nine months of 2020 were up by approximately one per cent compared to the same period in 2019.

“Improving economic conditions and extremely low borrowing costs sustained record-level sales in September, as we continued to account for the substantial amount of pent-up demand that resulted from the spring downturn. Further improvements in the economy, including job growth, would support strong home sales moving forward. However, it will be important to monitor the trajectory of COVID-19 cases, the related government policy response, and the impact on jobs and consumer confidence,” said Ms. Patel.

Year-over-year sales growth in September continued to be driven by ground-oriented market segments, including detached and semi-detached houses and townhouses. Annual growth rates were also higher for sales reported in the GTA regions surrounding the City of Toronto.

The September 2020 MLS® Home Price Index Composite Benchmark was up by 11.6 per cent year-over-year. The average selling price for all home types combined in September was $960,772 – up by 14 per cent year-over-year. Price growth was driven by the low-rise market segments. The relatively better supplied condominium apartment segment experienced a comparatively slower pace of price growth.

“On a GTA-wide basis, market conditions tightened in September relative to last year, with sales increasing at a faster pace than new listings. With competition between buyers increasing noticeably, double-digit year-over-year price growth was commonplace throughout the region in September, resulting in the overall average selling price reaching a new record,” said Jason Mercer, TRREB’s Chief Market Analyst.

Area  Average Selling Price Current Month  Percent increase/decrease Average DOM
Milton  $                      910,683.00 13.0% 22
Oakville  $                   1,419,482.00 18.0% 18
Burlington  $                      915,994.00 13.5% 18
Halton Hills  $                      938,970.00 15.2% 13
Guelph  $                      654,490.00 21.0% 10
Mississauga  $                      908,545.00 17.7% 16
Toronto Central  $                   1,134,524.00 12.1% 18

Milton Summary:
Average Sale Price over this time last year:  + 13%

Number of Sales over this time last year:  +1.5 %

Oakville Summary:

Average Sale Price over this time last year:  + 18%

Number of Sales over this time last year:  + 5 %

Burlington Summary:

Average Sale Price over this time last year:  + 13.5 %

Number of Sales over this time last year:  + 10.1 %

Halton Hills Summary:

Average Sale Price over this time last year:  + 15.2 %

Number of Sales over this time last year:  + 18.4  %

Mississauga Summary:

Average Sale Price over this time last year:  + 17.7 %

Number of Sales over this time last year:  – 8.1 %

Toronto Summary:

Average Sale Price over this time last year:  + 12.1%

Number of Sales over this time last year:  – 9.7 %

Posted by Christine Pecharich