REAL ESTATE BLOG

Year-over-year growth in first quarter 2021 condominium apartment sales well outstripped growth in listings over the same period in the Greater Toronto Area (GTA). With market conditions tightening, average condo prices for Q1 2021 were above the averages for Q1 2020 for the regions surrounding the City of Toronto. The average condo selling price in Toronto remained below last year’s level. First quarter 2021 condominium apartment sales reported by GTA REALTORS® totalled 9,398 –...

Q1 RENTALS IN THE GTA REACHED A NEW RECORD DUE TO PENT-UP DEMAND. In the first quarter of 2021, average condominium apartmentrents were down on a year-over-year basis, continuing to reflect a supply imbalance in favour of renters. The number of condominium apartments listed for rent during Q1 2021 was up by78.8% compared to Q1 2020.

GTA REALTORS® reported 10,970 sales through TRREB’s MLS® System in February 2021 – a 52.5 percent increase compared to 7,193 sales reported in February 2020. The condominium apartment segment led the way with a 64 percent sales increase compared to last year, with similar rates of increase in the ‘416’ and ‘905’ area codes. The MLS® Home Price Index Composite Benchmark was up by 14.8 percent year-over-year in February.