GTA Real Estate Market Update October 2020
Tags: HOME, Condo, TORONTO, MISSISSAUGA, MILTON, BRAMPTON, OAKVILLE, VAUGHAN, GTA
The Resale Real Estate Statistics for the Month of Sept. 2020 are in and Here are the Key Facts
- 11,083 sales reported through Toronto Real Estate Board’s MLS system (up 42.3% from September 2019).
- Average selling price of all home types was up 14.0% year over year.
- Only 1.64 months of standing inventory.
Here are some additional year over year statistics based on area and type of home, that will shed some more light on the overall market conditions.
Toronto Statistics - Year over Year Average price change
Detached Home |
+ 9.3% |
| Semi Detached | + 7.1% |
| Townhouse | + 13.2% |
| Condo Towns | + 5.2% |
| Condo Apartment | + 7.8% |
Mississauga Statistics – Year over Year Average Price change
Detached Home |
+ 15.2% |
| Semi Detached | + 16.3% |
| Townhouse | + 21.8% |
| Condo Towns | + 9.8% |
| Condo Apartment | + 6.3% |
Brampton Statistics - Year over Year Average Price change
Detached Home |
+ 15.3% |
| Semi Detached | + 15.1% |
| Townhouse | + 8.9% |
| Condo Towns | + 14.4% |
| Condo Apartment | + 11.7% |
Milton Statistics - Year over Year Average Price change
Detached Home |
+ 22.5% |
| Semi Detached | + 14.7% |
| Townhouse | + 11.5% |
| Condo Towns | + 36.3% |
| Condo Apartment | + 7.5% |
Vaughan Statistics - Year over Year Average Price change
Detached Home |
+ 10.5% |
| Semi Detached | + 12.6% |
| Townhouse | + 12.3% |
| Condo Towns | + 9.6% |
| Condo Apartment | + 5.8% |
Detached and Semi-detached homes led the price gains last month, coming in at 12.8% and 10.6% (respectively) year over year increase. The average price of all home types was up by 14.0% compared to September 2019.
The inventory level was up slightly to 1.64 months of inventory at the end of August as compared to 1.55 months of inventory at the end of July. The average price of a home in the GTA for September 2020 was $960,772 which is up 14.5% ($ 121,409) from January 2020.
If you need to sell, we can arrange for 3D Virtual tours to facilitate virtual showings to reduce the number of in-person showings. The key in the present market is to price effectively and strategically market the property (call me and we will show you how), staging and presentation play a key role as well.
Please feel free to contact me if you would like me to provide you with detailed market statistics for your area or property.
