Market Update – Greater Toronto – June 2021
We have seen market activity transition from a record pace to a robust pace over the last three months. While this could provide some relief for homebuyers in the near term, a resumption of population growth based on immigration is only months away and the only long-term solution to affordability is increasing supply.
Speed of the Market
Sellers’ market: 98.3%. The market for sellers has boosted, demand was more than supply.
Home Sales
The Greater Toronto area experiences a rise in home sales in June equaling to 11,106 sales through TRREB’s MLS® System:
- 28.5% increase from June 2020.
- Properties sold faster by 28% compared to last year.
Listings
There were a total of 16,189 new listings in June 2021.
- 0.1% decrease compared to June 2020.
- Inventory has declined compared to 2020, prices would continue rising.
Average Sold Price
The average selling price equaled $1,089,536:
- 17% increase compared to June 2020
- Median prices also surpassed last year’s level by 17.6%
Detached Home Highlights
5,169 detached homes were sold in June:
- Sales surpassed last year’s level by 17.1%
Median Price was $1,407,540:
- verage prices surpassed last year’s level by 24.8%.
Attached Homes Highlights
1,056 Attached Homes were sold in June:
- Sales nicreased by 33.7% compared to last year.
The average price was $1,055,640:
- Average prices increased by 13.4% compared to last year.
Townhouse Highlights
1,971 townhouses were sold in June:
- Sales nicreased by 25.9% compared to last year.
The average price was $859,411:
- Average prices increased by 17.8% compared to last year.
Condo Highlights
2,800 condos were sold in June:
- Sales went up by 57% compared to last year.
The average price was $683,479:
- Average prices increased by 8.3% compared to last year.