Toronto Regional Real Estate Board (TRREB) has released its numbers for August 2020.
The average selling price in August 2020 increased by 20%, from $792,134 in August 2019 to $951,404 in August 2020.
“Increased demand for ownership housing has been based on improving economic conditions, in terms of monthly GDP growth and job creation, and the continuation of very low borrowing costs. In addition, fewer households have chosen to go on vacation as a result of COVID-19 and instead have remained in the GTA and been active in the housing market, satisfying pent-up demand from the spring,” said TRREB President Lisa Patel.
Year-over-year statistics indicate just how strong the Toronto market has been.
The Market Watch Infographic below provides an illustrative overview of the month of August.
Post a comment