March 2021 – a story of inventory and market velocityMarch completed the GTA’s 2021 Q1 real estate story record sales numbers, price appreciation and market pace. Comparing March 2021
MARKET STATS FOR JANUARY 2021
Dated: February 24 2021
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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