SOME GOOD NEWS FOR GREATER TORONTO, HOME SALES ARE UP 24.3% FROM NOVEMBER/2019

According to new data released by the Toronto Regional Real Estate Board, things are looking up despite the pandemic. There were 8,766 homes sold in November 2020, up from 7,054 in November 2019. The average price was $955,615, up 13.3 per cent from $843,307 a year earlier.Detached home prices rose to an average of $1,202,281, up 15.2% from November 2019. Average condo prices fell 2% to $605,863In TORONTO’s city centre, detached home prices rose 8.7%, townhouses went up 7.3%, and condo prices fell 3% from November, 2019. The number of condos that entered the market this November was almost double that of last year. Low-rise suburban homes have become increasingly popular since the start of Covid-19. Telecommuting and stay-at-home workers are seeking space over the convenience of downtown. – Excerpts from The Canadian Press, December 3/2020

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