{"id":392367,"date":"2020-12-03T05:03:26","date_gmt":"2020-12-03T10:03:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=392367"},"modified":"2020-12-03T05:03:26","modified_gmt":"2020-12-03T10:03:26","slug":"trreb-reports-strong-november-single-family-home-resales-in-the-gta","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\/","title":{"rendered":"TRREB Reports Strong November Single-Family Home Resales in the GTA"},"content":{"rendered":"

\nCondo Market More Balanced With More Choice and Lower Selling Prices
\n<\/h2>\n
\n

TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) — The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS\u00ae through the Toronto Regional Real Estate Board\u2019s (TRREB) MLS\u00ae System. This result was up by 24.3 per cent compared to November of last year.<\/p>\n

Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the \u2018416\u2019 area code as well.<\/p>\n

\u201cHome buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. Competition between buyers for ground-oriented homes has been extremely strong in many neighbourhoods throughout the GTA, which has continued to support double-digit annual rates of price growth,\u201d said Lisa Patel, TRREB President.<\/p>\n

The MLS\u00ae HPI Composite Benchmark was up by 10.6 per cent in November 2020 compared to November 2019. The average selling price for all home types combined was up by 13.3 per cent to $955,615.<\/p>\n

Market conditions tightened in many single-family market segments in November, resulting in double-digit year-over-year increases in average selling prices for detached houses, semi-detached houses and townhouses.<\/p>\n

In contrast to the single-family market segments, buyers continued to benefit from much more choice in the condominium apartment market compared to last year, particularly in the City of Toronto. The number of new condominium apartment listings in November was almost double that reported in November of last year. More options in the condo apartment market translated into a small year-over-year decline in the average condominium apartment selling price in the \u2018416\u2019 area code.<\/p>\n

\u201cThe condominium apartment market is certainly more balanced than in previous years, with some buyers benefitting from lower selling prices compared to last year. However, this may be somewhat of a short-term phenomenon. Once we move into the post-COVID period, we will start to see a resumption of population growth, both from immigration and a return of non-permanent residents. This will lead to an increase in demand for condominium apartments in the ownership and rental markets,\u201d said Jason Mercer, TRREB Chief Market Analyst.<\/p>\n

\u201cThe real estate market and broader economy in the GTA certainly experienced an unprecedented year in 2020. As we move toward 2021, we\u2019re obviously thinking about what the next year will bring. In this regard, TRREB will once again be releasing its Market <\/em>Year in Review and Outlook Report<\/em> in early February. The report will include a housing market outlook for 2021, up-to-date consumer polling results on buying and selling intentions, and new research on housing supply in the GTA,\u201d said John DiMichele, TRREB CEO.<\/p>\n\n\n\n\n\n\n\n
\n Summary of TRREB MLS\u00ae Sales and Average Price November 1\u201330, 2020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n2020<\/td>\n2019<\/td>\n<\/tr>\n
\u00a0<\/td>\nSales<\/td>\nAverage Price<\/td>\nNew Listings<\/td>\nSales<\/td>\nAverage Price<\/td>\nNew Listings<\/td>\n<\/tr>\n
\n City of Toronto (“416”)<\/strong>\n <\/td>\n3,032<\/td>\n979,224<\/td>\n5,106<\/td>\n2,706<\/td>\n909,803<\/td>\n3,308<\/td>\n<\/tr>\n
\n Rest of GTA (“905”)<\/strong>\n <\/td>\n5,734<\/td>\n943,131<\/td>\n6,439<\/td>\n4,348<\/td>\n801,923<\/td>\n5,343<\/td>\n<\/tr>\n
\n GTA<\/strong>\n <\/td>\n8,766<\/td>\n955,615<\/td>\n11,545<\/td>\n7,054<\/td>\n843,307<\/td>\n8,651<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n TRREB MLS\u00ae Sales & Average Price by Home Type<\/strong>
\n November 1\u201330, 2020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\nSales<\/td>\nAverage Price<\/td>\n<\/tr>\n
\u00a0<\/td>\n416<\/td>\n905<\/td>\nTotal<\/td>\n416<\/td>\n905<\/td>\nTotal<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Detached<\/strong>\n <\/td>\n933<\/td>\n3,289<\/td>\n4,222<\/td>\n1,477,226<\/td>\n1,124,286<\/td>\n1,202,281<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n19.3%<\/td>\n33.6%<\/td>\n30.2%<\/td>\n8.7%<\/td>\n19.2%<\/td>\n15.2%<\/td>\n<\/tr>\n
\n Semi-Detached<\/strong>\n <\/td>\n336<\/td>\n552<\/td>\n888<\/td>\n1,160,911<\/td>\n816,367<\/td>\n946,735<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n36.0%<\/td>\n32.7%<\/td>\n33.9%<\/td>\n8.8%<\/td>\n16.0%<\/td>\n12.9%<\/td>\n<\/tr>\n
\n Townhouse<\/strong>\n <\/td>\n362<\/td>\n1,165<\/td>\n1,527<\/td>\n819,752<\/td>\n729,557<\/td>\n750,939<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n24.0%<\/td>\n33.0%<\/td>\n30.7%<\/td>\n7.3%<\/td>\n14.9%<\/td>\n12.6%<\/td>\n<\/tr>\n
\n Condo Apartment<\/strong>\n <\/td>\n1,375<\/td>\n657<\/td>\n2,032<\/td>\n640,208<\/td>\n533,984<\/td>\n605,863<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n0.8%<\/td>\n23.3%<\/td>\n7.1%<\/td>\n-3.0%<\/td>\n4.8%<\/td>\n-2.0%<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0
November 2020 Year-Over-Year Per Cent Change in the MLS\u00ae HPI<\/strong><\/td>\n<\/tr>\n
\n \u00a0<\/strong>\n <\/td>\nComposite
(All Types)<\/td>\n		Single-Family
Detached<\/td>\n		Single-Family
Attached<\/td>\n		Townhouse<\/td>\nApartment<\/td>\n<\/tr>\n
\n TRREB Total<\/strong>\n <\/td>\n10.56%<\/td>\n13.27%<\/td>\n13.12%<\/td>\n12.82%<\/td>\n4.07%<\/td>\n<\/tr>\n
\n Halton Region<\/strong>\n <\/td>\n13.48%<\/td>\n14.81%<\/td>\n15.56%<\/td>\n16.22%<\/td>\n8.90%<\/td>\n<\/tr>\n
\n Peel Region<\/strong>\n <\/td>\n11.76%<\/td>\n13.13%<\/td>\n14.21%<\/td>\n12.18%<\/td>\n7.49%<\/td>\n<\/tr>\n
\n City of Toronto<\/strong>\n <\/td>\n5.95%<\/td>\n10.09%<\/td>\n8.88%<\/td>\n10.94%<\/td>\n2.55%<\/td>\n<\/tr>\n
\n York Region<\/strong>\n <\/td>\n11.76%<\/td>\n12.65%<\/td>\n12.73%<\/td>\n11.28%<\/td>\n6.91%<\/td>\n<\/tr>\n
\n Durham Region<\/strong>\n <\/td>\n19.91%<\/td>\n19.70%<\/td>\n21.55%<\/td>\n21.00%<\/td>\n15.88%<\/td>\n<\/tr>\n
\n Orangeville<\/strong>\n <\/td>\n17.18%<\/td>\n17.01%<\/td>\n19.28%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
\n South Simcoe County1<\/sup><\/strong>\n <\/td>\n22.72%<\/td>\n16.21%<\/td>\n28.56%<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
\n
Source: Toronto Regional Real Estate Board <\/p>\n

1\u00a0<\/sup>South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n
\n Year-to-Date Summary of TRREB MLS\u00ae Sales and Average Price<\/strong>
\n YTD 2020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n2020<\/td>\n2019<\/td>\n<\/tr>\n
\u00a0<\/td>\nSales<\/td>\nAverage Price<\/td>\nNew Listings<\/td>\nSales<\/td>\nAverage Price<\/td>\nNew Listings<\/td>\n<\/tr>\n
\n City of Toronto (“416”)<\/strong>\n <\/td>\n29,150<\/td>\n994,548<\/td>\n58,751<\/td>\n30,535<\/td>\n883,272<\/td>\n51,371<\/td>\n<\/tr>\n
\n Rest of GTA (“905”)<\/strong>\n <\/td>\n58,876<\/td>\n897,194<\/td>\n92,162<\/td>\n52,854<\/td>\n780,723<\/td>\n97,870<\/td>\n<\/tr>\n
\n GTA<\/strong>\n <\/td>\n88,026<\/td>\n929,433<\/td>\n150,913<\/td>\n83,389<\/td>\n818,274<\/td>\n149,241<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n YTD TRREB MLS\u00ae Sales & Average Price by Home Type YTD 2020<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\nSales<\/td>\nAverage Price<\/td>\n<\/tr>\n
\u00a0<\/td>\n416<\/td>\n905<\/td>\nTotal<\/td>\n416<\/td>\n905<\/td>\nTotal<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Detached<\/strong>\n <\/td>\n9,074<\/td>\n34,272<\/td>\n43,346<\/td>\n1,478,546<\/td>\n1,055,586<\/td>\n1,144,128<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n2.5%<\/td>\n16.3%<\/td>\n13.1%<\/td>\n12.3%<\/td>\n14.2%<\/td>\n12.7%<\/td>\n<\/tr>\n
\n Semi-Detached<\/strong>\n <\/td>\n2,927<\/td>\n5,590<\/td>\n8,517<\/td>\n1,166,061<\/td>\n770,617<\/td>\n906,517<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n4.3%<\/td>\n9.7%<\/td>\n7.8%<\/td>\n11.4%<\/td>\n12.1%<\/td>\n11.2%<\/td>\n<\/tr>\n
\n Townhouse<\/strong>\n <\/td>\n3,265<\/td>\n11,910<\/td>\n15,175<\/td>\n835,216<\/td>\n703,735<\/td>\n732,024<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n1.9%<\/td>\n11.3%<\/td>\n9.1%<\/td>\n8.2%<\/td>\n12.5%<\/td>\n11.0%<\/td>\n<\/tr>\n
\n Condo Apartment<\/strong>\n <\/td>\n13,700<\/td>\n6,322<\/td>\n20,022<\/td>\n679,291<\/td>\n531,475<\/td>\n632,618<\/td>\n<\/tr>\n
\n Yr.\/Yr. % Change<\/strong>\n <\/td>\n-11.4%<\/td>\n-6.8%<\/td>\n-10.0%<\/td>\n7.4%<\/td>\n10.4%<\/td>\n7.8%<\/td>\n<\/tr>\n
\n
\n
Source: Toronto Regional Real Estate Board<\/strong>\n <\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Seasonally Adjusted TRREB MLS\u00ae Sales and Average Price1<\/sup><\/strong>
\n \n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nSales<\/td>\nMonth-over-Month
% Chg.<\/td>\n		Average Price<\/td>\nMonth-over-Month
% Chg.<\/td>\n<\/tr>\n
November ’19<\/td>\n7,642<\/td>\n1.9%<\/td>\n$846,374<\/td>\n0.8%<\/td>\n<\/tr>\n
December ’19<\/td>\n7,508<\/td>\n-1.8%<\/td>\n$874,283<\/td>\n3.3%<\/td>\n<\/tr>\n
January ’20<\/td>\n7,539<\/td>\n0.4%<\/td>\n$875,767<\/td>\n0.2%<\/td>\n<\/tr>\n
February ’20<\/td>\n9,456<\/td>\n25.4%<\/td>\n$904,450<\/td>\n3.3%<\/td>\n<\/tr>\n
March ’20<\/td>\n7,296<\/td>\n-22.8%<\/td>\n$894,745<\/td>\n-1.1%<\/td>\n<\/tr>\n
April ’20<\/td>\n2,473<\/td>\n-66.1%<\/td>\n$789,054<\/td>\n-11.8%<\/td>\n<\/tr>\n
May ’20<\/td>\n3,706<\/td>\n49.9%<\/td>\n$825,707<\/td>\n4.6%<\/td>\n<\/tr>\n
June ’20<\/td>\n6,518<\/td>\n75.9%<\/td>\n$908,596<\/td>\n10.0%<\/td>\n<\/tr>\n
July ’20<\/td>\n9,293<\/td>\n42.6%<\/td>\n$954,684<\/td>\n5.1%<\/td>\n<\/tr>\n
August ’20<\/td>\n10,309<\/td>\n10.9%<\/td>\n$982,788<\/td>\n2.9%<\/td>\n<\/tr>\n
September ’20<\/td>\n9,776<\/td>\n-5.2%<\/td>\n$950,849<\/td>\n-3.2%<\/td>\n<\/tr>\n
October ’20<\/td>\n9,408<\/td>\n-3.8%<\/td>\n$953,654<\/td>\n0.3%<\/td>\n<\/tr>\n
November ’20<\/td>\n9,209<\/td>\n-2.1%<\/td>\n$961,012<\/td>\n0.8%<\/td>\n<\/tr>\n
\n
Source: Toronto Regional Real Estate Board; CREA Seasonal Adjustment<\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n
\n
1 <\/sup>Preliminary seasonal adjustment undertaken by the Canadian Real Estate Association (CREA). Removing normal seasonal variations allows for more meaningful analysis of monthly changes and underlying trends.<\/p>\n

FOR FULL REPORT CLICK HERE<\/u><\/a>.<\/td>\n<\/tr>\n<\/table>\n

Media Inquiries:<\/p>\n

Genevieve Grant, Public Affairs Specialist ggrant@trebnet.com<\/u><\/a> 416-443-8159<\/p>\n

\n www.trreb.ca\/<\/a>\n <\/p>\n

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The Toronto Regional Real Estate Board is Canada\u2019s largest real estate board with more than 56,000 residential and commercial professionals connecting people, property and communities.<\/p>\n<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Condo Market More Balanced With More Choice and Lower Selling Prices TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) — The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS\u00ae through the Toronto Regional Real Estate Board\u2019s (TRREB) MLS\u00ae System. This result was up by 24.3 per cent compared to November of last year. Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the \u2018416\u2019 area code as well. \u201cHome buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. … <\/p>\n

Continue reading “TRREB Reports Strong November Single-Family Home Resales in the GTA”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-392367","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTRREB Reports Strong November Single-Family Home Resales in the GTA - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TRREB Reports Strong November Single-Family Home Resales in the GTA - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Condo Market More Balanced With More Choice and Lower Selling Prices TORONTO, Dec. 03, 2020 (GLOBE NEWSWIRE) — The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS\u00ae through the Toronto Regional Real Estate Board\u2019s (TRREB) MLS\u00ae System. This result was up by 24.3 per cent compared to November of last year. Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the \u2018416\u2019 area code as well. \u201cHome buyers continued to take advantage of very low borrowing costs in November, especially those looking to buy some form of single-family home. … Continue reading "TRREB Reports Strong November Single-Family Home Resales in the GTA"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-03T10:03:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NjAwNSMzODUzNzMzIzIwODQ5NDI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"TRREB Reports Strong November Single-Family Home Resales in the GTA\",\"datePublished\":\"2020-12-03T10:03:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\\\/\"},\"wordCount\":796,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5NjAwNSMzODUzNzMzIzIwODQ5NDI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/trreb-reports-strong-november-single-family-home-resales-in-the-gta\\\/\",\"name\":\"TRREB Reports Strong November Single-Family Home Resales in the GTA - 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