➕‘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 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

➕‘the numbers’ for May are in. It was another strong month for Toronto Real Estate, but remained slightly below the peak realized this past March.  Despite the off-peak sales numbers, the market conditions remained tight enough to pushed the average selling price in May to $1,116,736 - an all time record. 

​Competition for the current housing inventory has strengthened resulting in upward widespread pressure on prices across all market segments, including condominiums.

Selling prices for all major home types remained strong with pricing with increases in average selling prices for detached houses [+21%], semi-detached houses [+16%], townhouses [+19%], and condos [+6%] vs. May 2020.

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

➕Detached  $1,716,272
➕Semi-detached  $1,326,153
➕Townhouse $945,893
➕ Condo $716,976

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Data presented is for City of Toronto only.   Source: Toronto Regional Real Estate Board

➕‘the numbers’ for November are in. Sustained growth in key #torontorealestate market indicators vs 2019, continues this month.  Of particular note, new listings were up +86% vs. November 2019, and the year-over-year gain in average price was +8% and sales continue to be up +12%, vs. November 2019

Annual single-family growth rates remained robust in the ‘416’ area code.  Market conditions tightened in many single-family market segments in November, resulting in double-digit year-over-year increases in average selling prices for detached houses, semi-detached houses and townhouses.

The condominium apartment market is certainly more balanced than in previous years, with some buyers benefitting from slightly lower selling prices compared to last year in the '416] area code. However, this may be somewhat of a short-term phenomenon.  Post-COVID period, we expect to see a resumption of population growth, both from immigration and a return of non-permanent residents fuelling demand for condominium apartments in the both ownership and rental markets.

Looking to buy a home in Toronto?  Average prices in November were as follows:

➕Detached  $1,477,226
➕Semi-detached  $1,160,911
➕Townhouse $819,752
➕ Condo $640,208
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Data presented is for Toronto Only.   Source: TRREB.​

➕‘the numbers’ for October are in - and there was continued growth in a number of key #torontorealestate market indicators.  Of particular note, new listings were up +57% vs. October 2019, and the year-over-year gain in average price is up +11% vs. October 2019, and finally sales were also up +7%.
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However the October data does reveal some variation in market segments. “Competition between buyers of single-family homes, and particularly detached houses, remained strong last month and continued to support double-digit annual rates of price growth in many GTA neighbourhoods. In contrast, Condo buyers have benefitted from much more choice compared to last year. Pre-COVID polling had already pointed to an increase in investor selling in 2020. The pandemic only added to this trend with a stall in economic growth and a halt to tourism impacting cashflows for many investors,” said Lisa Patel, TRREB’s President.     ​

Looking to buy a home in Toronto?  Average prices in October were as follows:

➕Detached  $1,470,857
➕Semi-detached  $1,154,087
➕Townhouse $828,090
➕ Condo $668,161

Data presented is for Toronto Only.