September was another strong month for the Toronto real estate market with strength driven mostly by the low-rise market (detached, semi-detached, and townhome properties). The number of sales was up 42.3% compared to September 2019 and average selling prices were also up 14% on a year-over-year basis.
As always, if you are thinking about buying, selling, or investing in real estate at this time you should seek the professional advice of a REALTOR®️. Please feel free to contact me by email or at 416-453-7143 for advice on navigating the current market.
Toronto Real Estate Board (TREB) Market Watch Report
Below is a market snapshot of single family detached and condominium apartment price growth by municipality as of September 30, 2020.
The figures cited in this note are an average. Please contact me for neighbourhood specific information so you can make an informed decision if you are thinking about making a move.
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Single Family Detached Home Price Index
Toronto: +0.52% (1 Month), +5.99% (3 Month), +5.26% (6 Month), +12.17% (1 Year)
Mississauga: +1.03% (1 Month), +4.50% (3 Month), +2.84% (6 Month), +10.90% (1 Year)
Brampton: +0.96% (1 Month), +5.05% (3 Month), +2.85% (6 Month), +12.39% (1 Year)
Vaughan: +1.26% (1 Month), +6.06% (3 Month), +4.40% (6 Month), +10.75% (1 Year)
Richmond Hill: +0.06% (1 Month), +2.35% (3 Month), +5.12% (6 Month), +10.01% (1 Year)
Markham: +0.75% (1 Month), +3.45% (3 Month), +5.25% (6 Month), +11.04% (1 Year)
Condominium Apartment Home Price Index
Toronto: -0.33% (1 Month), -0.50% (3 Month), -1.64% (6 Month), +6.79% (1 Year)
Mississauga: +0.39% (1 Month), +1.11% (3 Month), +0.71% (6 Month), +12.58% (1 Year)
Brampton: -1.17% (1 Month), +4.98% (3 Month), +4.05% (6 Month), +13.06% (1 Year)
Vaughan: -0.20% (1 Month), +1.98% (3 Month), +1.32% (6 Month), +9.58% (1 Year)
Richmond Hill: -0.92% (1 Month), +0.55% (3 Month), +2.50% (6 Month), +9.78% (1 Year)
Markham: -1.04% (1 Month), -1.53% (3 Month), -0.54% (6 Month), +10.49% (1 Year)
*How to use these numbers: If on September 1, 2020 the value of a detached home in Toronto was $1,000,000, it would be worth $1,005,200 on September 30, 2020 based on the Toronto home price index (HPI). That $1,000,000 home appreciated $5,200 in September or $173.33 per day.
Prepared by Michael De Luca, Real Estate Sales Representative at Private Service Realty (PSR), Brokerage
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