According to the Toronto Regional Real Estate Board Market Watch report 2020 was the third best year of real estate sales in its history. There were 95,000 housing sales in 2020. The average sale price in December was close to $930,000 and that is a new record.
In Toronto, there were 7180 sales in December 2020 and that is up 64% compared to 4,364 in the same month of 2019. The TRREB MLS Average Price was $932,222 in Dec. 2020 and that is up 11.2% compared to $838,662 in Dec. 2019. The Year to Date average sale price in 2020 was $929,699 and that is up 13.5% compared to 2019.
There was more activity in December 2020 than in December 2019. The number of new listings was up in December 2020 by 66%. There were 5865 new listings in Dec. 2020 compared to 3530 in Dec. 2019. Overall in 2020, there was a marginal increase of new listings by 2.6%. Lisa Patel the President of TRREB said, "Following the steep COVID-19 induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall".
In Oakville, there were 225 sales in December 2020. The average sale price was $1,306,329 and the median sale price was $1,165,000. There were 240 active listings in December. The average days on market (listed) was 29 days and Sellers received 98% of list price on average. There was 1.8 months of homes for sale.
Year to date in Oakville, there were 3,442 sales. The average YTD sale price was $1,246,101 and the median sale price was $1,080,000. The LDOM was 23 days and Sellers received on average 98% of list price. In 2020, real estate sales in Oakville, Ontario totalled $4,289,080,423 according to TRREB's market watch report that was published in January 2021.
For more information about your real estate market please contact Bill Keay from the Jackie Peifer Team at 647-984-2455 or by email at bmkeay@rogers.com. If you would like a copy of the latest Market Watch Report please contact me.
Posted by: Bill Keay
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