416.234.2424

[mon-fri] 9-8 [sat] 9-4 [sun] 10-2

oldmill@sutton.com

drop us a line anytime!

where you’ll find us!

74 Jutland Road Unit #40

Toronto, ON M8Z 0G7

‘the numbers’ [august 2021]
by sutton old mill

➕august 2021➕

 

➕‘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

more of what you love

‘the numbers’ [march 2024]

➕March 2024➕   The Spring Market Poised for Acceleration! In March 2024, Toronto Real Estate saw a dip in home sales compared to last year, partly because Good Friday fell in March [vs. April] this year. Despite this, the market had more homes available, yet...

read more

‘the numbers’ [february 2024]

➕february 2024➕ It’s been a positive start to the new year! Despite ongoing challenges, the market has shown resilience, with both home sales and new listings experiencing growth compared to the previous year. Home sales in Toronto reached 1,907 in February 2024,...

read more

‘the numbers’ [january 2024]

➕january 2024➕ The numbers for the first month of 2024 are in! The initial market indicators suggest an early thaw for the Toronto Real Estate Market in 2024. It’s been a positive start to the new year. Home sales across all property types were up by +33% compared to...

read more

2023 year in review [+ looking forward to 2024]

From a bird's-eye view, surprisingly, the Toronto real estate market in 2023 closely resembled that of 2022. It was a year marked by discussions on interest rates, affordability, supply, volatility, and expectations. Furthermore, similar to 2022, we witnessed a robust...

read more

‘the numbers’ [december 2023]

➕december 2023➕ December was generally a quiet month for Toronto real estate, driven largely by seasonality and the continued high cost of borrowing.  However, there were a couple of noteworthy insights in the monthly data. Firstly, the townhouse segment experienced...

read more

‘the numbers’ [november 2023]

➕november 2023➕ Uncertain economic conditions and high borrowing costs continue to be barriers for many potential home buyers in Toronto, resulting in a decline in sales by 11% compared to November 2022. On a somewhat positive note for buyers, home prices have...

read more