Home sales in region drop more than 50 per cent amid coronavirus: Zoocasa
Prices decreased in King by 2 per cent
Yorkregion.com
May 1, 2020
Aileen Zangouei
Home sales across most parts of the region have dropped over 50 per cent during the COVID-19 pandemic, compared to around the same time last year, according to Zoocasa.
Zoocasa used data retrieved on April 22 from the Toronto Regional Real Estate Board (TRREB) to show where home prices increased and decreased across the GTA from March 16 to April 15, compared to last year.
Home prices have grown by eight per cent to $959,364 in the region, while sales have declined by 52 per cent -- 725 homes were sold this year, compared to 1496 being sold at this time last year.
The average price of homes in Markham has grown by 17 per cent, crossing the million mark at $1,030,611; however, sales have declined by 50 per cent compared to the same period last year.
Zoocasa reported that Vaughan has experienced one of the steepest declines in sales with only 150 homes being sold, a 61 per cent decrease compared to the 382 homes sold during the same time in 2019. Home prices have increased by seven per cent, now at an average of $1,006,503.
Sales in Richmond Hill have declined by 44 per cent, and prices have only slightly increased by one per cent to an average of $973,574.
Here are the statistics for the rest of the region:
Aurora
Average home price in 2020: $959,364
Average home price in 2019: $885614
Change in home price: 8 per cent
2020 home sales: 725
2019 homes sales: 1496
Change in home sales: -52 per cent
East Gwillimbury
Average home price in 2020: $869,193
Average home price in 2019: $852,270
Change in home price: 12 per cent
2020 home sales: 55
2019 home sales: 104
Change in home sales: -47 per cent
Georgina
Average home price in 2020: $578,266
Average home price in 2019: $554,918
Change in home price: 4 per cent
2020 home sales: 37
2019 home sales: 77
Change in home sales: -52 per cent
King
Average home price in 2020: $1,184,900
Average home price in 2019: $1,205,681
Change in home price: -2 per cent
2020 home sales: 20
2019 home sales: 36
Change in home sales: -44 per cent
Newmarket
Average home price in 2020: $795,753
Average home price in 2019: $731,371
Change in home price: 9 per cent
2020 home sales: 77
2019 home sales: 134
Change in home sales: -43 per cent
Whitchurch-Stouffville
Average home price in 2020: $1,023,796
Average home price in 2019: $943,020
Change in home price: 12 per cent
2020 home sales: 23
2019 home sales: 66
Change in home sales: -65 per cent
As the measures released under COVID-19 continue, Claudia Castro, a Zoocasa real estate agent in the region, said that buyers and sellers are “relying heavily” on virtual technology to complete transactions.
“The idea is to give the buyer the best access to the property as possible, without putting them or the seller at risk,” Castro said.
