Column Toronto Real Estate Brokerage Royal LePage RES Ltd/Johnston and Daniel Division Toronto REALTORS® Louise Dodd and Jason Dodd
Column Middle Toronto REALTOR® Louise Dodd Toronto REALTOR® Jason Dodd Toronto Real Estate Services Toronto Real Estate for Sale Previous Toronto Real Estate Sales Toronto Real Estate Information and Other Information

September Real Estate Market

Toronto Real Estate Board September MLS sale statistics:

  • GTA single family home sales including condominiums - 11,083.
  • Volume - up 42.3%, compared to September 2019 7,791 sales.
  • Volume - up 2.8% compared to August 2020 10,775 sales.
  • Average price of a GTA single family home - $920,168.
  • Up 12.3% from 2019's average price of $819,288.

(The GTA is Burlington to Clarington, Lake Ontario to Lake Scugog)

“On a GTA-wide basis, market conditions tightened in September relative to last year, with sales increasing at a faster pace than new listings. With competition between buyers increasing noticeably, double-digit year-over-year price growth was commonplace throughout the region in September, resulting in the overall average selling price reaching a new record,” said Jason Mercer, TRREB’s Chief Market Analyst.

We track MLS sales daily.

  • November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
  • September 2020 40-75% of properties sold for asking or under.

(Central districts cover the Lake to York Mills, and the Humber River to Victoria Park.)

The September residential resale market was a story of two markets headed in different directions - the strong freehold market and the weak condominium market.

  • The GTA freehold inventory remains limited.
  • Throughout September, well-priced or under-priced homes sold for over asking price in bidding wars or bully offers.
  • Toronto's condominium market weakness is especially apparent downtown which saw a 215% annual increase in September listings.
  • Bloomberg reported 6,480 condos for sale in September compared to 5,599 in August and 3,403 in September 2019. "Demand is just not keeping up with new supply right now." - Shaun Hildebrand, Urbanation president.
  • G.T.A. average rents declined by 11% annually in September.

Average Price September 2020
Average Price September 2019
City (416)
$1,022,051
$913,018
G.T.A. (905)
$931,834
$798,526

Average GTA Prices 1992 to 2019

1992
$214,971
2006
$351,941
1993
$206,490
2007
$376,236
1994
$208,921
2008
$379,347
1995
$203,028
2009
$395,460
1996
$198,150
2010
$431,276
1997
$211,307
2011
$465,014
1998
$216,815
2012
$497,130
1999
$228,372
2013
$522,958
2000
$243,255
2014
$566,624
2001
$251,508
2015
$622,120
2002
$275,231
2016
$729,837
2003
$293,067
2017
$822,572
2004
$315,231
2018
$787,865
2005
$335,907
2019
$819,288
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