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  • laurel@northgroup.com (416)888-2991 Brokerage: Keller Williams Real Estate Associates North Group

  • 866 The Queensway Toronto, ON M8Z 1N7

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Posted by Laurel on February 8, 2021
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Despite lockdowns, January 2021 GTA sales smash records

 

If you’ve wondered what real estate sales in the GTA would do with a surge of supply, look no further than January 2021’s condo sales that hit a record year over year increase of 85.5%. While improved affordability – a slight depreciation in the average condo price of 4.7% combined with record low interest rates – would be a factor in the sales numbers, this is a story of availability in an otherwise inventory starved market and the massive demand that persists. January’s 2,766 detached home sales, up by 34.4% compared to January 2020, continue to demonstrate the high demand from buyers wanting more space even as average prices increased by nearly the same rate as sales.

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