What Homes Sold For Ontario in March, May, June, December, and January 2020
If you are looking to buy or sell a home in Ontario, you will want to know what homes sold for in March, May, June, December, and January. This information is updated every 15 minutes to see the newest listings. You can also see what homes are sold for in other regions of Ontario, including the surrounding areas. Here’s a list of popular neighborhoods in Ontario:
March
As many homeowners sold their homes, real estate sales across the province of Ontario climbed in March. According to the REALTORS(r) Association of Grey Bruce Owen Sound, citizens sold 337 homes in March, a 54% increase year-over-year and a monthly record. This healthy increase was made possible by a resurgence in new listings, which accounted for nearly half of March’s sales.
In March, the number of homes available on the market increased by 43% compared to February. The number of new listings increased by 32%, above the five-year average of 54.4%. The sales-to-new-listings ratio climbed from 68% last March to 71%. This indicates that the market is now approaching its top sales pace. The number of homes on the market remains high but is not closing the record-breaking levels of last summer.
May
At the end of May 2022, Ontario saw a modest increase in the number of new listings on the market. A year earlier, inventory levels were 1.8 months higher but remained below the long-run average of 2.3 months. The dollar value of all homes sold in the province fell by 25.7% in May compared to the same month last year. But, as the Canadian real estate market stabilizes, the number of recently sold homes will likely continue to rise.
However, the Canadian housing market remains shaky, with home sales down more than 10% yearly and an average price of $660,000. While May is traditionally a hot month for home sales, the slowdown means prices are back to where they were before the COVID-19 pandemic hit the country. Nevertheless, this slowdown doesn’t necessarily mean that housing markets are over, as it just means that the market remains hot and sellers can expect more buyers to enter the market this fall.
June
The housing market in Ontario continues to cool as we enter the second half of the year. While sales were slower than in May, new listings and active listings have dropped significantly. New listings fell to their lowest level in five years in Barrie and Sarnia, respectively. However, the number of homes sold in these regions has remained strong, with the median selling price higher than in June last year. This suggests that there’s still strong demand for homes in the area.
The Niagara region had the lowest number of homes on the market, but the average selling price was at its highest in June. In Kitchener-Waterloo, meanwhile, sales remained stable despite tight market conditions. In Guelph, the average selling price was $857,754, a drop of 7% month-over-month. At the same time, active listings fell to their lowest levels in 30 years.
December
What homes sold for Ontario in December? Ontario real estate sales jumped nearly 78 percent year-over-year in December, hitting $11.1 billion. The federal lockdown did not slow down the Toronto market, with a forecast of 95,151 home sales in 2020. This increase represents an 8.4% increase from December 2019. Average home prices in the single-family home segment rose by 11.2%. Here are the statistics:
Residential sales in the Toronto region increased 62 percent year-over-year in December but decreased by 11% month-over-month. This is due to buyers’ increasing demand for more space, the ultra-cheap cost of borrowing, and a persistent supply shortage. While sales were up last year, inventory levels remained nearly two months, down nearly half from November. Despite the lack of inventory, prices remain high.
July
The number of July homes sold in Ontario has dropped from June’s record of nearly 9,400 to just over nine 400, according to the Toronto Regional Real Estate Board. Despite this decline, sales are still higher than average for the season, with nearly nine percent more homes sold in Toronto than in June. Prices rose 5.5 percent in Toronto and 1.5 percent in Vancouver. The declines are mainly attributable to low inventory levels contributing to higher prices.
Prices in smaller cities continue to rise. In some cities, there are a lot of multiple offers, which means homes often sell for hundreds of thousands of dollars over their listing price. Buyers in such markets may be facing more sticker shock than in other markets. TD Bank economist Mark A. Weidmann notes that there is no indication that the market will turn ice cold anytime soon. The TD Bank economist says prices are still too high.
August
In the last 12 months, the most homes sold for Ontario, CA, were in May, March, and August. The other months of the year saw lower sales volume, but the number of homes sold in August was higher than the average. Regardless of the month, a buyer’s market is prevalent in Ontario. The median price of homes in Ontario in August was $1,070,911.
In August, the number of homes listed for sale in the Greater Toronto Area fell by nearly three-fifths. Listings for new homes fell by seven percent, and the number of homes sold was down by a quarter. According to the Real Estate Board of Greater Toronto, the number of homes sold in August was down 19.9% from last year and eight percent from the previous month. The number of new listings decreased by a quarter to 10,609, 13% from July’s record-high of 131 homes.
September
According to the latest statistics from the London and St. Thomas Association of Realtors (LSTAR), citizens sold 778 homes in September. The average asking price was $1,033,373, but prices in other areas were significantly higher. The accelerating sales are attributed to a low inventory and an inflow of out-of-town buyers. For further details, see the full report. The table below highlights the top five markets for September homes in Ontario.
The September real estate market in Ontario continued its rise in October. Home sales in the Toronto and Vancouver regions were up nearly 21 percent and 45 percent from September 2017. These figures are still below their five-year averages but still represent a steady increase. Although September’s results were slightly above average, they remain well below the record high reached in February. The continued growth of home sales in Ontario has spilled over to the suburbs. The influx of buyers has fueled sales in St. Catharines, Hamilton, and Burlington.
October
The number of October homes sold in Ontario increased by 5% in the first ten months to 193,243 units. The October average price of a home in Ontario rose to $742,101, up 17.2% year over year. The average price of homes in Ontario hit a record high for the fourth consecutive month. The national average cost of a home increased by 10.9% in the same period. While October is traditionally a slow month for home sales, the average home price in Ontario increased by nearly 5% compared to the same month last year.
The October housing market was healthy overall. The Toronto Real Estate Board reported a 7% increase in sales over October of last year and an increase of 3.5 percent compared to September. The average number of days for a home to sell rose from 16 to 17 in October compared to last year, indicating a strong demand for homes in the GTA. The lack of inventory may also factor in the strong price growth in October.
November
The average sale price for a home in Ontario was $325,331. The average year-to-date price was $719,956. The decline in sales in October is mainly due to lockdowns, which delayed many sales. This has left pockets of listings, including a few in Toronto. The average sale price for a home in Ontario in November was 24% higher than a year ago. The market will continue to climb until inventory keeps pace with relentless buyer demand.
A report published by Zoocasa calculated the percentage difference between the average sold price and average list price for 29 Ontario markets. The highest difference was in markets with average list prices below $1 million. Ottawa, meanwhile, topped the list for homes that sold over the asking price with an average difference of 27 percent. A house in Oakville is only $77,880 over the list price. In comparison, the average home sale price in Caledon was $1,594,531.
December 2022
Recently, Twitter banter has turned into a hot topic in real estate: Ontario houses. These homes, once considered affordable, are now selling for more than their total price. These numbers are staggering, and people are unable to believe them. Historically affordable cities in Canada are experiencing a housing market bubble. With prices rising to record highs, it is no surprise that people are anxious about buying a home.
Last month, the market in Ontario surpassed a monthly record for the first time, with 14,749 residential sales. Year-over-year home sales climbed 48.7%, while new listings fell 38.6%, making this the second-highest December sales figure ever. As a result, new residential listings dropped to a three-decade low compared to December 2016.
