Toronto buyers look to houses over condos

29 January 2021 | General

Buyers in the Greater Toronto Area (GTA) prioritised conventional homes over condo apartments in 2020 compared to the previous year.

Zoocasa research found there was an 11% increase in detached and semi-detached house sales, but conversely a 10% decrease in condo apartment sales compared to 2019.

Across all GTA regions, condo apartment sales noted the sharpest decline in Peel Region, where they declined by -20% year-on-year for the period between April and December 2020.

The average house price rose 13% or $132,736 to $1,123,618 year-over-year during this period, and the average condo apartment price rose by 4% or $26,056, to $621,637.

This post has originally been featured in Property Wire.