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!

4237 Dundas Street West, Toronto, ON M8X 1Y3

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

➕october 2021➕

 

➕ While the temperatures are cooling, the fall Toronto Real Estate market continues to heat up.

Average monthly home prices in Toronto reached the second-highest level on record for 2021, driven by sustained low inventory and new listings across all major home types compared to last year. Of particular note, the Toronto townhouse segment reached a record high average price of $1,025,257, surpassing the million dollar threshold. Moreover, despite the tight market conditions, overall Toronto sales climbed +8% vs. October 2020, largely driven by the resurgence of condo market segment.

“The only sustainable way to address housing affordability in the GTA is to deal with the persistent mismatch between demand and supply. Demand isn’t going away. And that’s why all three levels of government need to focus on supply. The
federal government has stated that collaboration with provinces and municipalities is required.” said TRREB President Kevin Crigger.

“The tight market conditions across all market segments and areas of the GTA is testament to the broadening scope of economic recovery in the region and household confidence that this recovery will continue” said TRREB Chief Market Analyst.

Selling prices in Toronto for all major home types were in the double digits with average selling prices for detached houses [+21%], semi-detached houses [+15%], townhouses [+24%], and condos [+11%] vs. October 2020.

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

Detached $1,784,979
Semi-detached $1,322,229
Townhouse $1,025,257
Condo $739,547

more of what you love

‘the numbers’ [april 2022]

➕april 2022➕ ➕‘the numbers’ for April are in. The Bank of Canada’s goal of slowing consumer spending is reflected in this month’s Toronto Real Estate market statistics with transactions down vs. last month [-6%], and last year [-36%]. Consistent with historical rate...

read more

‘the numbers’ [march 2022]

➕march 2022➕ ➕‘the numbers’ for March are in. Market conditions remain tight across all home segments however with more Sellers returning to the market vs. the preceding nine months, some Buyers may not have experienced the same level of competition on offer night....

read more

‘the numbers’ [february 2022]

➕february 2022➕   ➕‘the numbers’ for February are in. A small year-over-year increase in new listings [+4% vs. Feb 2021] was not enough to lessen the competition between Toronto Buyers in February. Double digit year-over-year price growth was experienced across...

read more

‘the numbers’ [january 2022]

➕january 2022➕   ➕‘the numbers’ for the first month of 2022 are in. The Toronto Real Estate trends from late 2021 remain unchanged in January - the market has strong demand and short supply. The tight market conditions continues to drive year-over-year price...

read more

2021 year in review [+ looking forward to 2022]

➕‘2021 was not 2020, but it was definitely not your typical year in Toronto Real Estate.  We ended last year’s report stating that “If nothing else, we’re looking forward to 2021 and we’re better prepared for any challenges that it may present!”  Yes, overall it was a...

read more

‘the numbers’ [december 2021]

➕december 2021➕ ➕‘the numbers’ for the last month of 2021 are are in!   While December ended with a historically strong sales result, the volume of sales was notably quieter month over month, and down -12% vs. December 2020.  New listings continued to decline and were...

read more