Vaughan outpaces rest of York Region in condo, single-home sales in 2020 -- once again

Vaughan's market was stronger than Markham's and Richmond Hill's, which posted second and third highest sales figures respectively

Yorkregion.com
Feb. 1, 2021
Dina Al-Shibeeb

Vaughan saw the sales of 3,160 condo units and 1,003 single-homes for 2020, the year when the whole world scrambled to fight off COVID-19 and continued pushing for more vaccine production, the Building Industry and Land Development Association figures showed Jan. 27

Vaughan by far outperformed its figures for 2019 where it also took the lead in selling the most condominiums and single-family homes in York Region.

In 2019, Vaughan sold a staggering number of 2,456 condominiums units and 414 single family homes.

BILD’s year to date new homes for York Region shows how York Region sold 3,985 condominium units in 2020, 5,509 in 2019 and 2,819 in 2018.

For single-family homes, there is a huge increase in sales for York Region as the year saw 6,366 homes sold in 2020 in comparison to 2,742 in 2019 and 981 in 2018.

For the GTA, single-family homes, including detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses), accounted for 16,973 new home sales in 2020. This was an increase of 81 per cent from the previous year and 25 per cent above the 10-year average.

Condominium apartments, including units in low, medium and high-rise buildings, stacked townhouses and loft units, accounted for 20,696 new home sales, down 22 per cent compared to the previous year and 11 per cent below the 10-year average.

“Looking back at 2020, the resilience of the GTA new home market was very evident, highlighting the underlying demand for housing in the face of economic uncertainty,” said Ryan Wyse, Altus Group’s Manager, Analytics, Data Solutions. “Given the significant changes brought on by the pandemic, the industry and consumers were able to adapt quickly, and the result was an overall increase in sales compared to 2019, with a particular focus on single-family options.”

BILD’s 2020 GTA New Home Sales report shows Vaughan selling 3,160 condo units with October being the highest sales month at 750 units sold. Markham followed at 403 condo sales with January being the highest at 121 units sold. Richmond Hill comes third at 299 and February being the peak at 68 units sold.

With the rest of York Region known for its more spacious single-family homes, Vaughan has also taken the lead with 1,003 homes sold. Both September and October saw its peak in home sales in Vaughan with 151 homes sold per each month.

Markham followed second at 2,046 homes sold with the most active month being February at 430 houses sold.

Richmond Hill came third with 934 homes sold, and September being the highest month for sales transaction at 143 homes sold.

East Gwillimbury witnessed the sales of 847 homes; the highest month of sales is February at 108 homes sold as well as August at 105.

Georgina, meanwhile, saw the sales of 435 homes and August being the most active at 107. The pandemic has shown consumers’ appetite for more space especially as more people worked from home, making both Georgina and East Gwillimbury as more attractive northern alternatives.

About 419 homes sold at Whitchurch-Stouffville and February being the highest at 112.  Then comes Newmarket at 405 home sales with February also being the most active at 144 homes sold.

Aurora sold 133 homes in February and is the most active at 55 homes sold. King saw 36 home sales with the highest month being November at 21.