Toronto buyers look to houses over condos
Buyers in the Greater Toronto Area (GTA) prioritised conventional homes over condo apartments in 2020 compared to the previous year.
Zoocasa research found there was an 11% increase in detached and semi-detached house sales, but conversely a 10% decrease in condo apartment sales compared to 2019.
Across all GTA regions, condo apartment sales noted the sharpest decline in Peel Region, where they declined by -20% year-on-year for the period between April and December 2020.
The average house price rose 13% or $132,736 to $1,123,618 year-over-year during this period, and the average condo apartment price rose by 4% or $26,056, to $621,637.