By The Numbers 

The Toronto Real Estate Boards statistics year over year for the month of December. 

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7,180

TREB Sales 

December  2020

4,364

TREB Sales 

December 2019

$932,222

TREB Average December 2020

$838,662

TREB Average Price December 2019

December Numbers 2020

  • Number of Sales 2020
    7,180 | +64.5%
  • Number of Sales 2019
    4,364
  • Number of New Listing 2020
    5,865 | +66.1%
  • Number of New Listings 2019
    3,530
  • Number of Active Listing 2020
    7,406 | +6.6%
  • Number of Active Listings 2019
    7,892
  • Average Price 2020
    $932,222 | +11.2%
  • Average Price 2019
    $838,662
  • Average Days on the Market (DOM) 2020
    24 Days | -17.2%
  • Average Days on the Market (DOM) 2019
    29 Days

TREB Market Summary

Despite an unprecedented year due to COVID-19, including necessary public health restrictions and uncertainty surrounding the economy, Greater Toronto Area REALTORS® reported over 95,000 home sales in 2020 – the third-best result on record. The average selling price reached a new record of almost $930,000.

“The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery,” said Lisa Patel, Toronto Regional Real Estate Board (TRREB) President.

Highlights from 2020 include:

  • 95,151 sales were reported through TRREB’s MLS® System – up by 8.4 percent compared to 2019. This included a record result for the month of December, with 7,180 sales – a year-over-year increase of 64.5 percent.
  • Year-over-year sales growth was strongest in the GTA regions surrounding Toronto, particularly for single-family home types.
  • The average selling price reached a new record of $929,699 – up by 13.5 percent compared to 2019. This included an average price of $932,222 in December – a year-over-year increase of 11.2 percent. The strongest average price growth was experienced for single-family home types in the suburban regions of the GTA.
  • After a pronounced dip in market activity between mid-March and the end of May, market conditions improved dramatically in the second half of the year, with multiple consecutive months of record sales and average selling prices.

“While the housing market as a whole recovered strongly in 2020, there was a dichotomy between the single-family market segments and the condominium apartment segment. The supply of single-family homes remained constrained resulting in strong competition between buyers and double-digit price increases. In contrast, growth in condo listings far-outstripped growth in sales. Increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices during the last few months of the year,” said Jason Mercer, TRREB Chief Market Analyst.

Breaking Down The Numbers

Sales Numbers, average price  percentage changes over the same time last year.

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Detached

$1,240,632 | +17.7%

3,038 | +54.6%

Townhouse

$768,474 | +14.1%

1,282 | +76.8%

Semi Det. 

$939,660 | +16.6%

591 | +56.8%

Condo Apt.

$600,840 | -2.0%

2,193 | -75.4%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    657 | +41.9%
  • 905 - Detached
    2,381 | +58.5%
  • 416 - Semi Detached
    197 | +57.6%
  • 905 - Semi Detached
    394 | +56.3%
  • 416 - Townhouse
    296 | +60.9%
  • 905 - Townhouse
    986| +82.3%
  • 416 - Condos
    1,551 | +75.9%
  • 905 - Condos
    642 | +74.5%.

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,475,758 | +8.1%
  • 905 - Detached
    $1,175,753 | +22.7%.
  • 416 - Semi Detached
    $1,160,108 | +15.3%,
  • 905 - Semi Detached
    $829,437 | +17.4%
  • 416 - Townhouse
    $842,902 | +17.6%
  • 905 - Townhouse
    $746,130 | +13.3%
  • 416 - Condo
    $625,828| -4.7%
  • 905 - Condo
    $540,472 | +6.3%

Economic Indicators

  • Real GDP Growth | Q3 - 2020
    Up | +40.6%
  • Toronto Employment Growth | November 2020
    Down | -2.2%
  • Inflation Rate (Yr/Yr CPI Growth) | November 2020
    Up | 1.0%
  • Toronto Unemployment Rate | October 2020
    Down | 10.7%
  • Bank of Canada Overnight Rate | December 2020
    Unchanged | 0.25%
  • Prime Rate | December 2020
    Unchanged | 2.45%
  • Mortgage Rates December 2020 (1yr/3Yr|5Yr)
    3.09% | 3.49% | 4.79%
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