GTA Market Watch | January, 2021

Tuesday Feb 23rd, 2021

Share

Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area Realtors reported January 2021 home sales which amounted to 6,928. That was up by more than 50 per cent compared to January 2020. This strong start to 2021 included sales growth across all major segments including condominium apartments, both in the City of Toronto and surrounding GTA regions.

New listings in Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area were also up on a year-over-year basis in January, but not by the same annual rate as sales. This means market conditions tightened compared to January 2020, resulting in the continuation of double-digit growth in the MLS® Home Price Index and the average selling price.

The average selling price in Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area for January 2021 was up by 15.5 per cent to $967,885 year-over-year. The MLS® HPI Composite Benchmark was up by 11.9 per cent over the same period.

Price growth in Bolton, Caledon, Vaughan, York, Woodbridge, Beeton, Alliston, Angus, Tottenham & Greater Toronto Area was driven by the low-rise market segments, while the average condo apartment price was down in Toronto. However, if we continue to see condo sales growth outstrip condo listings growth, we could start to see renewed growth in condo prices later this year.

 


Post a comment