𝙏𝙝𝙚 𝙨𝙪𝙢𝙢𝙚𝙧 𝙗𝙧𝙤𝙪𝙜𝙝𝙩 𝙪𝙨 𝙧𝙚𝙘𝙤𝙧𝙙 𝙝𝙚𝙖𝙩 – 𝙖𝙣𝙙 𝙬𝙚’𝙧𝙚 𝙣𝙤𝙩 𝙩𝙖𝙡𝙠𝙞𝙣𝙜 𝙩𝙚𝙢𝙥𝙚𝙧𝙖𝙩𝙪𝙧𝙚
Keeping in line with the already astonishing month of July, the August home market continued to wreak havoc, both in terms of sales volume and price
🔸️ 𝙏𝙝𝙚 𝙂𝙤𝙤𝙙: More COVID-delayed buyers continue to resurface due to improving short-term economic conditions and low borrowing (mortgage interest) costs. As a result, the average price of homes sold shot up by 20.1% compared to August 2019.
🔸️ 𝙏𝙝𝙚 𝘽𝙖𝙙: While condominium apartment units have also seen an increase in sales demand and average price, these numbers are fairly modest compared to low-rise home types such as detached, semi-detached and townhomes.
🔸️ 𝙏𝙝𝙚 𝙂𝙧𝙚𝙖𝙩: The number of home sales last month are up by 40.3% compared to the previous August. The last two months have been the busiest in the GTA since April 2017!