➕‘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

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➕‘the numbers’ for March are in. Record sales continued for Toronto Real Estate into the third month of 2021 driven by low borrowing costs and continued improvement in many sectors of the economy. The ‘416’ saw double digit growth in key market indicators vs 2020 including sales up +86%, new listings up +47% and active listing up +17%, vs. March 2020.

To note, sales growth of semi-detached homes more than doubled [+106%]vs. March 2020, but all segments saw near double growth with sales of detached homes +74%, townhouses +90%, and the condominium segment +86%, vs. March 2020.  However, it is important to consider that last year’s number include the initial impacts of Covid-19.

Tight supply in single-family segment continues to fuel robust growth rates in the ‘416’ area code with increases in average selling prices for detached houses [+19%], semi-detached houses [+11%] and townhouses[+15%] vs. March 2020.   

And while new condo listings outstripped condo sales in March, the segment continues to experience month over month renewed price growth with average condo selling prices in the ‘416’ now almost at par [-1%] when compared to March 2020.   

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

➕Detached  $1,750,518
➕Semi-detached  $1,288,005
➕Townhouse $960,894
➕ Condo $707,835

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

➕‘the numbers’ for December are in. Sustained growth in key #torontorealestate market indicators vs 2019, continued through the last month of 2020.  Of particular note, new listings were up +69% vs. December 2019, sales continue to be up +63% and the year-over-year gain in average price was +1% vs. December 2019.

The supply of single-family homes remained constrained resulting in strong competition between buyers.  Annual single-family growth rates remained robust in the ‘416’ area code with increases in average selling prices for detached houses [+8%], semi-detached houses [+15%] and townhouses[+17%] vs. 2019.

Growth in condo listings far-outstripped growth in sales.  This increased choice for condo buyers ultimately led to more bargaining power and a year-over-year dip in average condo selling prices compared to last year in the '416’ [-5%].

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

➕Detached  $1,475,758
➕Semi-detached  $1,160,108
➕Townhouse $842,902
​➕ Condo $625,828