➕‘the numbers’ for August are in!  Demand for Toronto Real Estate remains strong, yet at the same time, the supply of listings is down -43% vs. August 2020.   The result?  Upward pressure on prices due to tighter market conditions with many buyers still competing in multiple offers.  Further, with new inventory, Toronto realized a decline in total sales [-11%] vs. Aug 2020 in all housing segments with the exception of a strong resurgence in the condo segment where sales increased 13% vs. August 2020.
Selling prices in Toronto for all major home types increased with average selling prices for detached houses [+11%], semi-detached houses [+4%], townhouses [+9%], and condos [+7%] vs. August 2020.   It is clear that the supply of homes is not keeping pace with demand. As we move towards 2022, expect market conditions to further tighten as population growth in the GTA starts to trend back to pre-COVID levels.
Looking to buy or sell a home in Toronto?  Average prices in August were as follows:

➕Detached  $1,674,641
➕Semi-detached  $1,214,624
➕Townhouse $905,520
➕ Condo $720,832

➕‘the numbers’ for July are in!  Demand for Toronto Real Estate remains strong and many households are still competing in multiple offers, despite the pandemic lull in population growth. The number of sales of detached, semi-detached and townhouses remained below the record set last July, however market conditions tightened resulting in price appreciation vs. July 2020.  Of particular note, demand in the condo segment grew with both sales and prices vs. July 2020.  In the absence of more supply, strong upward pressure on home prices can be expected to continue, especially as we realize a resurgence in population growth.

Selling prices for all major home types remained strong with average selling prices for detached houses [+6%], semi-detached houses [+2%], townhouses [+5%], and condos [+5%] vs. July 2020.

Looking to buy or sell a home in Toronto?  Average prices in July were as follows:

➕Detached  $1,633,649
➕Semi-detached  $1,205,814
➕Townhouse $893,347
➕ Condo $715,977

➕‘the numbers’ for June are in and It was another solid month for Toronto Real Estate.   The number home sales were +37% vs. June 2020, though they remained below the peak realized this past March, and lower vs. May 2021 - indicating signs of a return to regular seasonal market trends.   Market conditions remained tight with sales growth outpacing the growth in new listings.  As a result,  Toronto realized an increase in the average selling price in June to $1,079,749 [+6% vs. June 2020].  

Selling prices for all major home types remained strong with average selling prices for detached houses [+12%], semi-detached houses [-2%], townhouses [+10%], and condos [+7%] vs. June 2020.  

To quote new TRREB President Kevin Crigger “We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away.”

Looking to buy or sell a home in Toronto?  Average prices in June were as follows:

➕Detached  $1,699,881
➕Semi-detached  $1,267,044
➕Townhouse $941,474
➕ Condo $717,466

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