Real Estate Price Changes in Toronto After COVID-19 Measures
COVID-19 is having a profound impact on Real Estate in Toronto and the surrounding G.T.A.
The Toronto Regional Real Estate Board recently released data that has showed how much of a change has actually taking place in the last 30-60 days. It's not a surprise the numbers have been greatly affected by the COVID-19 measures that have been implemented province wide.
The interesting thing when looking at this data is to note that prices have not been impacted nearly as much as predicted. In fact, in most areas prices are still increasing. Yes the actual sales numbers have dropped since fewer homeowners are listing their properties, but it seems that even with little supply the demand is still strong enough to keep prices of real estate stable in the GTA.
This data has been analyzed to calculate the actual percentage changes in real estate prices and home sales in the last 30 days between March 16 and April 15, 2020. In order to show the changes in context, this data has subsequently been compared to the same period of time in 2019.
The below info-graphic is a representative snapshot of where average prices and home sales have now recently landed.
Areas with the Largest Price Increases
Toronto East +14%
E. Gwillimbury +12%
Areas With Decreases ( or small increase)
Toronto Central -1%
Richmond Hill +1%