Well, Toronto, we’ve officially been humbled. Zoocasa just released a new report going over the 2020 real estate trends and it turns out we are not, in fact, the hottest city in Ontario right now. We know, we were shocked and distraught too. While we eat our humble pie, let’s take a look at who did top the charts in the 2020 roundup.
Coming in a number one, Zoocasa has given the title to… drumroll, please… Oakville! This GTA town saw a whopping 25% increase in annual price changes in the average home. Speaking of the average home, in this nearby town buying property could cost you somewhere around $1.3 million. Wowza! They also saw a 69% seller’s market, compared to last year’s 63% seller’s market in the same area.
Of course, they weren’t the only nearby area to rank high on the list. Other top contenders include Caledon in second place, then Vaughan, Richmond Hill, and Markham. All of these spots saw significant increases in the average home prices, as demand for property in the area went up over the course of the year.
But don’t worry, Toronto. We’re weren’t entirely off the list. It looks like our lovely little city came in 7th overall. Not that it’s a competition or anything… But you know nothing compares to Toronto pride. Even when it comes to an expensive and demanding real estate market.
Here at home, we saw an 11% increase in annual price changes, with our average home price sitting at $1,025,925. Still nothing to sneeze at there. However, we did have a 45% buyers market this year, compared to last year’s 66% seller’s market. So if you’re looking to buy property in Toronto, now’s not a bad time to do it.
So there you have it! If you’d like to learn more or check out the full list, you can do so right here.JTNDZGl2JTIwaWQlM0QlMjJtb2JpbGUtYWQtb25seSUyMiUzRSUwQSUzQyUyMS0tJTIwVG9yb250byUyMC0lMjBNb2JpbGUlMjAtLSUzRSUwQSUzQ2lucyUyMGNsYXNzJTNEJTIyYWRzYnlnb29nbGUlMjIlMEElQzIlQTAlQzIlQTAlQzIlQTAlQzIlQTAlQzIlQTBzdHlsZSUzRCUyMmRpc3BsYXklM0FibG9jayUzQndpZHRoJTNBMzIwcHglM0JoZWlnaHQlM0E1MHB4JTNCJTIyJTBBJUMyJUEwJUMyJUEwJUMyJUEwJUMyJUEwJUMyJUEwZGF0YS1hZC1jbGllbnQlM0QlMjJjYS1wdWItNTUyMTg1Njk1NTQ5NzQ1NiUyMiUwQSVDMiVBMCVDMiVBMCVDMiVBMCVDMiVBMCVDMiVBMGRhdGEtYWQtc2xvdCUzRCUyMjEyMTk1NjU4MzQlMjIlM0UlM0MlMkZpbnMlM0UlMEElM0MlMkZkaXYlM0U=