My January market report showcases everything you need to know about the local Toronto real estate trends.
While the housing market as a whole recovered strongly in 2020, there was a dichotomy between single-family homes and condominiums. 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.
