After seeing buyers compete with multiple offers on homes across the Greater Toronto Area, real estate agent Navid Rashid is recovering from an unusually busy December that capped an unusually busy year.
"December in the past has usually been a very slow month … people want to just enjoy their time off," said Rashid, a senior sales representative at Trace Property Group. "But this year was very different."
The average price of a Toronto home sold last year hit a new high as the number of sales climbed 8.4 per cent compared with 2019, the Toronto Real Estate Board said.
The average selling price in Greater Toronto was $929,699 in 2020, up 13.5 per cent from $819,279 in 2019, the board's report said on Wednesday.