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’ [november 2021]
by sutton old mill

➕november 2021➕

 It was a record month for the average selling price for detached, semi-detached and condo Toronto market segments, and active listings continue to produce double digit declines vs. November 2020, but also for the fifth straight month.

These trends highlight the continuing supply-issue In Toronto, which is mirrored across all home types in the GTA. TRREB President Kevin Crigger recently said “The GTA remains the primary destination for new immigrants, and is at the centre of the Canadian economy”   The low supply issue is not transient and demand will persist.  The City of Toronto took a step in the right direction by moving forward with initiatives to facilitate the creation of more mid-density home types.

“A key difference this year compared to last is how the condo segment continues to tighten and experience an acceleration in price growth, particularly in suburban areas. This speaks to the broadening of economic recovery, with first-time buyers moving back into the market in a big way this year. The condo and townhouse segments, with lower price points on average, will remain popular as population growth picks up over the next two years,” said TRREB Chief Market Analyst Jason Mercer.

Selling prices in Toronto for all major home types were in the double digits with average selling prices for detached houses [+22%], semi-detached houses [+23%], townhouses [+20%], and condos [+17%] vs. November 2020. 

Looking to buy or sell a home in Toronto?  Average prices in November were:

Detached $1,807,983
Semi-detached $1,431,988
Townhouse $981,759
Condo $745,951

more of what you love

‘the numbers’ [may 2023]

➕may 2023➕   ➕Let’s delve into ‘the numbers’ for May.   Recovery, limited supply and increasing competition remain the headlines for Toronto Real Estate. The demand for homes in Toronto continues to surpass the available supply, leading to intense competition...

read more

‘the numbers’ [april 2023]

➕april 2023➕   ➕‘the numbers’ for the April are in.  Tightening market supply, increasing competition, and a gradual recovery in average price continued to be Toronto’s spring market housing story in April. Overall, April’s home sales remained below 2022. New...

read more

‘the numbers’ [march 2023]

➕march 2023➕   ➕‘the numbers’ for the March are in.  Tightening market supply coupled with returning Buyers has led to increased competition in many neighbourhoods across the City of Toronto.  “Lower inflation and greater uncertainty in financial markets has...

read more

How Interest Rates Affect the Toronto Real Estate Market?

The Toronto real estate market has been a topic of discussion for many years due to its volatility and high demand. One of the key factors that affect the Toronto real estate market is the interest rate set by the Bank of Canada. Interest rates can have a significant...

read more

5 Reasons People Love Living in Toronto

Toronto is a vibrant and multicultural city that offers something for everyone. With a population of over 2.7 million people, it's the largest city in Canada and a hub of business, entertainment, and culture. In this blog post, we will discuss the top 5 reasons why...

read more

‘the numbers’ [february 2023]

➕february 2023➕   ‘the numbers’ for the February are in. At the 1 year anniversary of the Bank of Canada’s first rate hike of 2022, the Toronto Real Estate market appears to be finding it legs. As expected when compared to the peak of early 2022, the number of...

read more