January Delivered Near-Record Y-O-Y Appreciation 

By: Thomas Cook

January Delivered Near-Record Y-O-Y Appreciation 

In January sales were up 15.3% compared to last year with 4,581 houses and condominiums changing hands in all the districts.
Condo townhouse and high-rise suite sales were up by 13.8% with a 38.3% share of the market and 1,753 units being sold.
The January average sale price for all GTA homes came in at $839,363, up 12.3% from one year ago.
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The inventory average for the month of January compared to historical numbers was lower by a huge 35% compared to last year at this time.
This inventory imbalance is causing price increase in many, but not all, GTA districts.
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in.  24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
In January that ratio finished at 58.9% - almost 26% above last year and a continuation of what we saw in December 2019.  This is an indication of a continuing strong, steady market as we start to move into the 2020 spring market.
The days-on-market average for GTA / Toronto homes was 30 days, 3 days faster than December.

Here’s a snapshot summary of the significant real estate milestones for Toronto in January 2020… with the highest appreciation rate we’ve seen since March 2018!!

Watch the video to get the complete January 2020 Market Report details.

Here's the complete text version of the January 2020 Toronto Real Estate Market Report to read.

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