Westport condos . The housing market is still very hot. Home sales and house prices both rose in January, with home sales of 6928 units, up 52 per cent from a year earlier, according to a report released earlier this month by the Toronto real estate bureau. The average selling price increased by 15.5% to $967885 from $838087 in January 2020.Please Visit: Westport condos to Get Your VVIP Registration Today!
According to a monthly report released today by the Canadian Real Estate Association (CREA), which represents national real estate agents, national home sales rose 35.2% in January from a year earlier and 2% higher than in December.
This is a continuous rise since December: sales rose 47.2% year-on-year, the biggest monthly increase in 11 years. Sales in December were up 7.2% compared with the previous month, November.
Despite the outbreak and tighter public health restrictions everywhere, the average price of home sales rose to $621 in January, up 22.8 per cent from a year earlier, according to the CREA report.
In December, the national average house price rose to $607280, up 17.1% from the last month of 2019.
Based on the more accurate MLS house price composite index (HPI), HPI rose 1.9 per cent month-on-month in January and 13.5 per cent higher than a year earlier.
The average seasonally adjusted price of a house in the greater Toronto area is $941100, while the average price in Vancouver is slightly more than 1 million yuan.
Excluding the two most active and expensive markets, Greater Vancouver and Greater Toronto, the national average price fell by nearly $130000 to $492525, CREA said.
Prices in Victoria, Greater Vancouver, Regina and Saskatoon in BC province rose 10 per cent, while prices in Calgary and Edmonton rose 2 per cent.
Prices rose between 10 and 15 per cent in January in Missouri in GTA, Chilliwack and Okanagan Valley in BC, Vancouver Island and Winnipeg.