MARKET STATISTICS | FEBRUARY 2021
Wednesday Apr 14th, 2021
Toronto Real Estate Prices Rip Higher, With Detached Homes Rising another 14% Last Month. Detached Home Prices in Vaughan were up 24% In February.
To Access February 2021 Stats: Click Here
𝙋𝙡𝙚𝙖𝙨𝙚 𝙚𝙢𝙖𝙞𝙡 𝙢𝙚 𝙛𝙤𝙧 𝙖 𝙥𝙚𝙧𝙨𝙤𝙣𝙖𝙡𝙞𝙯𝙚𝙙 𝙨𝙖𝙡𝙚𝙨 𝙧𝙚𝙥𝙤𝙧𝙩 𝙤𝙣 𝙮𝙤𝙪𝙧 𝙨𝙩𝙧𝙚𝙚𝙩 𝙤𝙧 𝙣𝙚𝙞𝙜𝙝𝙗𝙤𝙧𝙝𝙤𝙤𝙙.
Toronto real estate is hot when looked at in aggregate, but there are divergent trends. First, there’s the detached vs condo apartment split. Detached homes are extremely hot commodities, with prices rising 2x median incomes. Condo apartments had a big month, but it was somewhat seasonal. Annual growth for condos is grinding to the lowest level in over a decade. In addition to the segment trend, is the location trend – the suburbs compared to the City.
Detached home prices in the City are fast growing, but underperforming the suburbs. The same trend is seen with condo apartments, even though it’s a slower market. Suburban condos were hit with slow price growth, while the City saw negative growth.
You might have some questions about the local real estate market. Getting answers to these questions is crucial if you plan to move this spring or summer. But, even if it’s just for curiosity, it’s always good to stay up to date on what’s happening in the real estate market.
So, please, don’t hesitate to reach out to me. I’m here to help.
Stay healthy, happy and well,