Even if you didn’t want to believe the calendar, you cannot escape the reality of the outdoor temperatures – Summer 2020 is winding down. The headlines paint a picture of a red hot Toronto real estate market but is it true for all types of real estate and all neighbourhoods? Many records were broken in August which is not surprising – our typical “spring market” was pushed forward into August, and when comparing to August numbers in previous years, 2020 will surely stand out as an anomaly.
Here is your monthly breakdown of the stats and Alex’s summary of what it all means. Be sure to click on the link for the video to learn about why the Home Price Index Composite Benchmark is an important statistic to understand. Will this level of sales activity continue in the coming months as we head “back to school”, whether in-person or online? The first few days post-Labour Day has seen a large number of properties come to market so we will see how it all transpires in terms of sales and prices in the coming weeks! If you are still interested in making a move in 2020, book a time to chat with us today!