REAL ESTATE MARKET Attn: Sophia Song 15004 Yonge Street | Aurora, ON L4G 1M6 CA
REPORT
JANUARY 2021
TORONTO TORONTO ONTARIO SOPHIA SONG
Sales Representative
CLHMS, ABR, GREEN
416.356.9215
ONTARIO Sophia@SongTeam.ca
NICK XU
Broker, SRS, PSA, P.Eng LUXE Luxury Listing Specialist
647.502.9215
SELLER’S MARKET SELLER’S MARKET
Nick@SongTeam.ca
TORONTO, ONTARIO
RE/MAX 2021 Canadian Housing Market Outlook
2021 MARKET OUTLOOK: 2021 MARKET OUTLOOK:
6% 6%
ESTIMATED AVERAGE RESIDENTIAL SALES PRICE IN 2021: RESIDENTIAL ESTIMATED AVERAGE SALES PRICE IN 2021:
2020 (Jan-Oct): $918,883 2021 2020(Forecast): (Jan-Oct): $974,015 $918,883 2021 (Forecast): $974,015
• Immigration is anticipated to be a major factor driving demand back towards the city centre in 2021. •• Based on affordability, it is to anticipated that condominiums will see thetowards most activity ofcentre all property types. Immigration is anticipated be a major factor driving demand back the city in 2021. •• Days market areitanticipated to decrease. Basedon onthe affordability, is anticipated that condominiums will see the most activity of all property types. • Days on the market are anticipated to decrease.
DRIVING DEMAND DRIVING DEMAND
POPULAR PROPERTY POPULAR PROPERTY
HOT LOCATIONS HOT LOCATIONS
Remote work is prompting buyers to choose homes Remote is prompting basedwork on affordability, buyers to choose most often outsidehomes of the based on being affordability, city, versus close to mostwithin often the outside of the work city centre. city, versus being close to work within the city centre.
SOLD SOLD Foreign homebuyers
All freehold property types
Foreign homebuyers
All freehold property types
PRESTIGIOUS HOMES OF
AURORA N O RT H E A S T
W E C E L E B R AT E A N D S E RV E A L L O F AU R O R A’ S D I V E R S I T Y W E S P E A K E N G L I S H A N D M A N DA R I N
PREPARED ESPECIALLY FOR
Jonathan and Angela-Marie Williams
2020 MARKET OVERVIEW: 2020 MARKET OVERVIEW:
12% 12%
2019 (full year): $819,832 AVERAGE RESIDENTIAL 2020 (Jan-Oct): $918,883 SALES PRICE: 2019 (full year): $819,832 AVERAGE RESIDENTIAL 2020 (Jan-Oct): $918,883 SALES PRICE: • The condo market in the downtown core saw a decline in demand since the start of the pandemic. •• There is currently of inventory The condo market2inmonths the downtown coreavailable. saw a decline in demand since the start of the pandemic. luxury market 2remained unaffected the pandemic. ••The There is currently months of inventoryby available.
www.AuroraNorthEast.com
•The luxury market remained unaffected by the pandemic.
ENTRY-LEVEL MARKET ENTRY-LEVEL MARKET
LUXURY MARKET LUXURY MARKET
CONDO MARKET CONDO MARKET
PRESENTED BY
SOPHIA SONG Typical Buyer: Single buyer, young couple Typical Buyer: Single homebuyer, young Typical Buyer: Move-up buyer Typical Property: Condo & semi-detached couples, retirees/downsizers Typical Buyer: Single buyer, young couple Typical Buyer: Single homebuyer, young Starting Price: $3.3M Average Price: $832,923 Average Price in 2020: $629,837 Typical Buyer: Move-up buyer Typical Property: Condo & semi-detached couples, retirees/downsizers Price: Average* Price: $832,923 Average Price in 2020: $629,837 Source: Historical values are sourcedStarting from CREA or $3.3M Local Board statistics. Estimates and forecasts are based on the opinion of independent RE/MAX broker/owners and affiliates.
RE/MAX 2021 Canadian Housing Market Outlook Each RE/MAX office is independently owned and operated.
RE/MAX 2021 Canadian Housing Market Outlook
*Source: Historical values are sourced from CREA or Local Board statistics. Estimates and forecasts Each RE/MAX office is independently operated. RE/MAX broker/owners and affiliates. are based on the owned opinionand of independent
AND
NICK XU