Here are the real estate market stats you need to know for February 2021 vs. 2020 home sales in Toronto, Mississauga, Oakville, Burlington
Record home sales continued in February making this the 8th consecutive record month!
While Toronto proper continues to see double digit price growth in the freehold detached category, the suburban areas surrounding T.O have seen the biggest increase in value as more Buyers are leaving Toronto and moving to nearby communities.
Mississauga, Oakville and Burlington had amazing price growth compared to this time last year – Burlington with the highest increase in our report at an approximately 20% increase in value at just under $1.39 million for the average price of a detached home.
Oakville semi-detached homes jumped almost 23% in value due to the high cost of detached ownership. Semi’s and freehold townhouses are in high demand especially in the newer areas within north Oakville.
Mississauga had consistent high double digit increases across all freehold home categories. The average price of a detached home is up month over month alone by just over $40k to $1.516 million.
The Condo Market
Condo values as an average are down year over year in Toronto, however we have seen an increase in sales activity primarily in the first time buyer price point.
Mississauga condo values are up slightly and we anticipate that the condo market will continue to gain momentum as the year progresses.
The west 905 condo market continues to outperform with a 9.3% increase in Oakville and 11.7% increase in Burlington.
Wondering if it’s the right time to buy or sell?
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