Housing Market Analysis & Outlook for GTA

Prepared by Luke Tao, Broker
July 20, 2021


Sale price in June is $1,08,536, up by 17% from a year ago, but remained slightly below $1,097,323 in the peak of March 2021; the sales volume on the other hand has reduced by about 30% from the peak in March this year, indicating the sales demand has not been as ‘red-hot’ as in March, but still in a ‘Sellers Market’ .  In relative terms, the Sales volume (Demand) which has grown by 28.5% year-over-year, still outstripped new listings (Supply) which is -0.1% less from the same time last year.


Toronto GTA has reported 11,106 sales in June 2021 – up by 28.5% compared to June 2020. Looking at the GTA as a whole, year-over-year sales growth was strongest in the condominium apartment segment, which had been turned around from a year ago when condominium apartment sales were significantly below the free-hold market. While price growth continued to be driven by the low-rise segments of the market, it is important to note that the average condominium apartment price was up by more than eight per cent compared to June 2020, well outstripping inflation.


The market activity has transitioned 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.  The only long-term solution to affordability is increasing supply to accommodate perpetual housing needs in a growing region.


In all major market segments, year-over-year growth in sales well outpaced growth in new listings over the same period, pointing to the continuation of tight market conditions characterized by competition between buyers and strong price growth.


The June 2021 MLS® Home Price Index composite benchmark was up by about 20% year over year. The average selling price for all home types combined was up by 17% over the same time period to $1,089,536.
















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Toronto Market Report Infographics

Friday, October 15, 2021 5:49:08 PM UTC
INFOGRAPHICS: September 2021 TRREB Toronto Market Reports
INFOGRAPHICS: September 2021 TRREB Toronto Market Reports

Tight GTA Housing Market Conditions Sustain Strong Price Growth

September marked the transition from the slower summer market to the busier fall market in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. Sales increased relative to August and were also at the third-highest mark on record for the month of September. The average selling price was up both month-over-month and year-over-year.

GTA REALTORS® reported 9,046 sales through TRREB’s MLS® System in September 2021 – up in line with the regular seasonal trend from August. Compared to last year, market conditions tightened noticeably, with sales representing a substantially higher share of listings, and a significantly lower number of new listings across the board. Resurgence in the condo market was a factor in the higher share of listings sold. The total number of sales was down 18% from 2020’s record September result, in large part due to the lower number of new listings, which were down 34% from the same time last year.

Read the full report on TRREB website!

 

 


 

The following data is a comparison between September 2020 and September 2021 numbers, and is current as of October 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – September 2021 TRREB, Toronto Market Report

 

 

 

 

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INFOGRAPHICS: August 2021 TRREB Toronto Market Reports
INFOGRAPHICS: August 2021 TRREB Toronto Market Reports

GTA Housing Demand Remains Strong In August

TRREB is reporting the third-best sales result on record for the month of August. While the market has taken its regular summer breather, it is clear that the demand for ownership housing remains strong. At the same time, the supply of listings is down. The result has been tighter market conditions and sustained competition between buyers, resulting in double-digit annual increases in selling prices.

Greater Toronto Area REALTORS® reported 8,596 sales through TRREB’s MLS® System in August 2021 – down by 19.9% compared to the August 2020 record of 10,738. The condominium apartment market segment bucked the overall sales trend, with year-over-year growth in sales, continuing a marked resurgence in 2021. The number of new listings entered into the System was down year-over-year by 43%.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between August 2020 and August 2021 numbers, and is current as of September 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – August 2021 TRREB, Toronto Market Report

 

 

 

 

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INFOGRAPHICS: July 2021 TRREB Toronto Market Reports
INFOGRAPHICS: July 2021 TRREB Toronto Market Reports

July Numbers Show Strong Demand Continues For Home Ownership In GTA

With almost 9,400 sales reported in July 2021, demand for ownership housing remained well-above average for the time of year despite being below the record July result set a year earlier. Market conditions actually tightened relative to July 2020, with sales accounting for a greater share of new listings compared to last year. The sellers’ market conditions sustained a double-digit annual rate of price growth.

“Demand for ownership housing has remained strong despite a pandemic-related lull in population growth. Of specific note is the condominium apartment market, which has seen a marked turn-around in 2021 with sales up compared to last year. First-time buyers, many of whom were slower to benefit from the initial recovery phase, remain very active in the market place,” said TRREB President Kevin Crigger.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between July 2020 and July 2021 numbers, and is current as of August 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – July 2021 TRREB, Toronto Market Report

 

 

 

 

 

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INFOGRAPHICS: June 2021 TRREB Toronto Market Reports
INFOGRAPHICS: June 2021 TRREB Toronto Market Reports

TRREB Updates Its Sales Forecast and Average List Price Upwards

June home sales were up compared to last year, but remained below the March 2021 peak and were lower than the number of transactions reported for May 2021, consistent with the regular seasonal trend. The average selling price in June increased by double digits compared to last year as well, but the annual rate of increase moderated compared to the previous three months.

Greater Toronto Area REALTORS® reported 11,106 sales through TRREB’s MLS® System in June 2021 – up by 28.5% compared to June 2020. Looking at the GTA as a whole, year-over-year sales growth was strongest in the condominium apartment segment, both in the City of Toronto and some of the surrounding suburbs. On a month-over-month basis, both actual and seasonally adjusted sales continued to trend lower in June.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between June 2020 and June 2021 numbers, and is current as of July 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – June 2021 TRREB, Toronto Market Report

 

 

 

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INFOGRAPHICS: May 2021 TRREB Toronto Market Reports
INFOGRAPHICS: May 2021 TRREB Toronto Market Reports

Strong May GTA Home Sales Remain Below March Peak

Residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record and remained below this year’s March peak. Despite a slight ebb in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May.

Greater Toronto Area REALTORS® reported 11,951 sales in May 2021 – more than double the result from May 2020, the second full month of the pandemic. May 2021 sales were below the May 2016 record of 12,789 but remained well above the average May sales of 10,336 for the 2010 through 2019 period. Often, May is the strongest sales month in any given year; however, 2021 results bucked this trend, with May sales below the 15,646 deals reported in March.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between May 2020 and May 2021 numbers, and is current as of June 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – May 2021 TRREB, Toronto Market Report

 

 

 

 

 

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INFOGRAPHICS: April 2021 TRREB Toronto Market Reports
INFOGRAPHICS: April 2021 TRREB Toronto Market Reports

The Pace of GTA Home Sales Slows In April

Home sales in the Greater Toronto Area (GTA) set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic. Bucking the regular seasonal trend, April 2021 sales actually declined month-over-month. A similar trend was noted for the number of new listings reported.

GTA REALTORS® reported 13,663 sales through TRREB’s MLS® System in April 2021 – a 12.7% decrease compared to March 2021, but more than quadruple the number of sales reported in April 2020, when the economic impact of COVID-19 was arguably the worst. Compared to the ten-year sales average of 10,000 for the April 2010 to April 2019 period, the April 2021 sales result was up by 36.6%.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between April 2020 and April 2021 numbers, and is current as of May 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – April 2021 TRREB, Toronto Market Report

 

 

 

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INFOGRAPHICS: March 2021 TRREB Toronto Market Reports
INFOGRAPHICS: March 2021 TRREB Toronto Market Reports

Consumer Confidence And Low Interest Rates Drive Up Homes Sales In GTA

For the third straight month of 2021, record home sales continued in March across the Greater Toronto Area (GTA) with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.

GTA REALTORS® reported 15,652 sales in March 2021 – close to double that of March 2020. While sales were strong, it is important to remember that for the second half of March 2021, we are comparing against the initial impact of COVID-19 in the second half of March 2020 when sales activity dropped off dramatically. With this in mind, it is important to consider annual sales growth for the pre-COVID period (March 1 to 14, 2020) and the COVID period (March 15 to 31, 2020)

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between March 2020 and March 2021 numbers, and is current as of April 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – March 2021 TRREB, Toronto Market Report

 

 

 

 

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INFOGRAPHICS: February 2021 TRREB Toronto Market Reports
INFOGRAPHICS: February 2021 TRREB Toronto Market Reports

GTA Home And Condo Sales Reach New Heights For February

Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto.

GTA REALTORS® reported 10,970 sales through TRREB’s MLS® System in February 2021 – a 52.5% increase compared to 7,193 sales reported in February 2020. Looking at all areas of the GTA combined, the condominium apartment segment led the way with a 64% sales increase compared to last year, with similar rates of increase in the ‘416’ and ‘905’ area codes.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between February 2020 and February 2021 numbers, and is current as of March 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – February 2021 TRREB, Toronto Market Report

 

 

 

 

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INFOGRAPHICS: January 2021 TRREB Toronto Market Reports

The outlook for the GTA real estate market is healthy with strong buying intentions, a near-record sales forecast of more than 100,000, and a record average selling price over $1 million.

Today, the Toronto Regional Real Estate Board (TRREB) is unveiling its must-read Market Year in Review & Outlook 2021 Report and eagerly awaited digital digest containing TRREB’s annual market outlook, up-to-date Ipsos consumer polling results, the most recent Altus new home and commercial statistics, rental market trends, research on innovative approaches to bring on more housing supply and mortgage market trends.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between January 2021 and January 2021 numbers, and is current as of February 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – January 2021 TRREB, Toronto Market Report

Download Printable Version – January 2021 TRREB Part 2, Toronto Market Report

 

 

 

 

 

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INFOGRAPHICS: December 2020 TRREB Toronto Market Reports

“The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery,” said Lisa Patel, Toronto Regional Real Estate Board (TRREB) President.

Read the full report on the TRREB website!

 

 


 

The following data is a comparison between December 2019 and December 2020 numbers, and is current as of January 2021. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Click on the images for a larger view! (Protip: Make sure to grab the printable PDF versions, too! It fits best when printed on A4-sized sheets, AND we’ve added an area on the sheet where you can attach your business card! 🙂 )

 

Download Printable Version – December 2020 TRREB, Toronto Market Report

Download Printable Version – December 2020 TRREB Part 2, Toronto Market Report

 

 

 

 

 

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