With December sales of 1,199, this is the highest December total since 2007. Housing demand over the second half of 2020 was far stronger than anticipated. Attractive interest rates along with prices that remain lower than several years ago have likely supported some of the recovery.
Detached: Stronger sales in the second half of the year were enough to offset earlier pullbacks as detached sales totalled 9,950, just slightly higher than last years' levels. Despite the modest gain, detached sales activity remains at the lower levels recorded since the stress test was introduced in 2018. Despite some of the annual shifts seen, prices remain well below previous highs in all districts of the city.
Semi-Detached: Sales growth in the North East, North, West and South East district was offset by declines in the City Centre, North West, South and East districts. Sales this year of 1,663 were similar to levels recorded last year. Citywide semi-detached prices eased by over 1% in 2020, with the largest declines occurring in the City Centre, North West and West areas.
Row: Row sales totalled 2,145 in 2020, nearly 2% higher than last years' levels. Despite the gains, levels continue to remain below long-term averages for the city. The annual prices eased by nearly 2% compared to the previous year and remain nearly 14% below previous highs.
Apartments: Sales number this month was the best December since 2014. However, it was not enough to offset earlier pullbacks as apartment condominium sales eased by 10% in 2020. This is the slowest year for apartment condo sales since 2001 and the only property type to record a significant annual decline in sales. On an annual basis, the benchmark price declined by over 2% this year and is over 16% below the highs set in 2015.