Toronto Real Estate Market And The COVID-19 Pandemic
Tuesday Mar 31st, 2020Share
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The average sold price in Toronto is now at $984,000. This is slightly lower than the previous month's average price of $1,000,000. Despite the changes in the economy global now due to the novel coronavirus, prices are still higher than the previous year. There has been an 18.1% increase year-over-year.
New listings in Toronto have reached 4,615 in the last month, an increase from the previous month of 3,406.
There have been 2,586 homes that sold in the last month. This has also increased since the previous month when there were 2,175 homes that sold.
The time it takes to sell a home in the current market, known as days on market, or DOM for short, is now at an average of 11 days.
These numbers are only for the past month. To better understand what's going on in the real estate market, It's better to look at the market changes week-over-week. Have a look below to see what's going on.