Detached housing values have shown remarkable resilience in the first half of 2020, with 95 per cent of Greater Toronto real estate districts posting solid gains in average price, according to a report released today by RE/MAX of Ontario-Atlantic Canada.
The RE/MAX 2020 Hot Pocket Communities Report examined trends and developments in 65 Toronto Regional Real Estate Board (TRREB) districts, finding that a steep decline in the number of homes listed for sale during Ontario’s State of Emergency contributed to a notable uptick in single-detached housing values. Active listings across Greater Toronto real estate markets hovered at 14,000 in June, the lowest level for the month since 2016 when active listings bottomed-out at 12,327. Average price was up in 95% of areas between January and June 2020, compared to the same period in 2019. Double-digit increases were reported in 60% of 416 districts and in 50% of 905 districts.
Read the full article at remax.ca