On this page, you can find VIP Condos Toronto's summary of the Toronto Regional Real Estate Board (TRREB)'s October 2020 real estate market watch, with info on prices & trends in the region's housing market. VIP's report will provide information such as market outlooks & news in October 2020, along with specific info on condo & home prices in the GTA:
October 2020 Real Estate Market Watch: Residential Transactions
- 10,563 residential home transactions took place in October 2020, up from 8,445 in October 2019 - an increase of 25.1%.
- When seasonal adjustments are taken into account, there was a 4% decline in the number of purchases from September (9,775) to October (9,387).
Average Selling Prices
- The average sale price for October 2020 was $968,318. This is an increase of 13.7% over October 2019, when it was $851,877.
- With seasonal adjustments, prices saw a 0.3% increase from September 2018 (from $950,849 to $954,003).
New Listings
- There were 17,802 listings available for October 2020, which is a 36.4% increase over October 2019 (when there were 13,053).
- The sales-to-listings ratio has decreased by 6% from September 2020, from 65% to 59%.
October 2020 Real Estate Market Watch: Days On The Market
- The average property spent 24 days on the market, compared to 33 last year - a decrease of 27.3%.
- Listings spent an average of 17 days on the market, which is a 26.1% decrease from this month last year.
- How do I get my down payment?
- Can I use my RRSP for my down payment?
- How can I make the profits from my pre-construction purchases tax-free?
- What incentives are available for first-time buyers?
- What type of home or mortgage can I afford?
- What is a PDI?
- What are the pros & cons of buying or selling an assignment before closing?
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