The GTA housing market continues to ignore this pandemic and instead is presenting us with some never-before-seen stats in the history of recording!
FACTS:
1. The year 2020 (COVID)HOUSING MARKET was The THIRD HIGHEST year in sales EVER recorded
2.As for December 2020, Check out these "stand outs" as compared to December 2019:
*New Listings were UP 66%.
*Sales SOARED by 65%.
3.In the City of Toronto:
*detached sales rose by 42%.
*Semis sales surged by 58%.
*And CONDO SALES, because of the swell in supply, went UP 76% (tho' prices took a 5% DIVE!).
The average sale price in the GTA is now a WHOPPING $932,222 UP 11% from last December.
So the winners in December 2020 were ECOM and REAL ESTATE.
Just WOW! Need help this spring? That's what I do.
I wear 2 hats; "Personal Shopper" or "Chief Sales Officer"orBOTH!
BUT HERE'S WHAT I FOUND SO COMPELLING ABOUT THE NUMBERS:
Look at the stats for the local economy in Feb/2020 (when we were not aware of just how COVID would affect us all) versus Nov/2020:
Toronto Employment Growth: Feb/4.6% Nov/-2.2%
Toronto Unemployment rate: Feb/5.4% Nov/ 10.7%
Inflation: Feb/2.2% Nov/1%
BOC overnight rate: Feb/1.75% Nov/.25%
Prime Rate: Feb/3.95% Nov/2.45%
And of course mortgage rates are lower as well
And despite these MAJOR slides in the economy, the housing market is still soaring! Who could have ever projected this??
JILL'S MONTHLY MUSING....NEW!
"I don't know the key to success......
but the key to failure is trying to please everyone"!
(Pssssst: Your "House Whisperer"advises you to HAVE YOUR HOME APPRAISED in 2021) Even if you're not planning a move, you should at least KNOW how well you're doing!