Consumer Confidence And Low Interest Rates Drive Up Homes Sales In GTA
For the third straight month of 2021, record home sales continued in March across the Greater Toronto Area (GTA) with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.
GTA REALTORS® reported 15,652 sales in March 2021 – close to double that of March 2020. While sales were strong, it is important to remember that for the second half of March 2021, we are comparing against the initial impact of COVID-19 in the second half of March 2020 when sales activity dropped off dramatically. With this in mind, it is important to consider annual sales growth for the pre-COVID period (March 1 to 14, 2020) and the COVID period (March 15 to 31, 2020)
GTA Home And Condo Sales Reach New Heights For February
Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto.
GTA REALTORS® reported 10,970 sales through TRREB’s MLS® System in February 2021 – a 52.5% increase compared to 7,193 sales reported in February 2020. Looking at all areas of the GTA combined, the condominium apartment segment led the way with a 64% sales increase compared to last year, with similar rates of increase in the ‘416’ and ‘905’ area...
The outlook for the GTA real estate market is healthy with strong buying intentions, a near-record sales forecast of more than 100,000, and a record average selling price over $1 million.
Today, the Toronto Regional Real Estate Board (TRREB) is unveiling its must-read Market Year in Review & Outlook 2021 Report and eagerly awaited digital digest containing TRREB’s annual market outlook, up-to-date Ipsos consumer polling results, the most recent Altus new home and commercial statistics, rental market trends, research on innovative approaches to bring on more housing supply and mortgage market trends.
The following data is a comparison between January 2021 and January 2021 numbers, and is current as of February 2021. For last...
“The Greater Toronto Area housing market followed an unfamiliar path in 2020. Following the steep COVID-induced drop-off in demand during the spring, home sales roared back to record levels throughout the summer and fall. A strong economic rebound in many sectors of the economy, ultra-low borrowing costs and the enhanced use of technology for virtual open houses and showings fuelled and sustained the housing market recovery,” said Lisa Patel, Toronto Regional Real Estate Board (TRREB) President.
The following data is a comparison between December 2019 and December 2020 numbers, and is current as of January 2021. For last month’s numbers, check out our previous infographic!
TRREB Reports Strong November Single-Family Home Resales in the GTA. Condo Market More Balanced With More Choice and Lower Selling Prices.
The record pace of home sales in the fall continued with 8,766 sales reported in November by Greater Toronto Area REALTORS® through the Toronto Regional Real Estate Board’s (TRREB) MLS® System. This result was up by 24.3% compared to November of last year.
Generally speaking, year-over-year growth in sales was stronger for single-family homes in the GTA regions surrounding the City of Toronto, but annual single-family growth rates remained robust in the ‘416’ area code as well.
The following data is a comparison between November 2019 and November 2020 numbers, and is current as of December 2020....
Home sales in the Greater Toronto Area (GTA) were up again year-over-year for the fourth month in a row.
Members made 10,563 sales as reported through the Toronto Regional Real Estate Board’s MLS® System in October 2020. This was up by 25.1% compared to 8,445 transactions in October 2019.
Sales and new listings reached record levels for the month of October. However, year-over-year growth rates for sales and new listings diverged in some market segments. In the detached market segment, the pace of annual sales growth far outstripped growth in new listings. Conversely, the condominium apartment market segment experienced more than double the new listings compared to October 2019, whereas sales were only up by 2.2% over the same period.
Toronto Regional Real Estate Board President Lisa Patel announced that sales reported through TRREB’s MLS® System by Greater Toronto Area REALTORS® amounted to 11,083 – a new record for the month of September. This result was up by 42.3% compared to September 2019.
Following a record third quarter, sales through the first nine months of 2020 were up by approximately one% compared to the same period in 2019.
Year-over-year sales growth in September continued to be driven by ground-oriented market segments, including detached and semi-detached houses and townhouses. Annual growth rates were also higher for sales reported in the GTA regions surrounding the City of Toronto.
The following data is a comparison between September 2019 and...
Toronto Regional Real Estate Board (TRREB) President Lisa Patel announced that the strong rebound in Greater Toronto Area (GTA) home sales continued with a record result for the month of August.
GTA REALTORS® reported 10,775 residential sales through TRREB’s MLS® System in August 2020 – up by 40.3% compared to August 2019.
Sales were up on a year-over-year basis for all major home types, both in the City of Toronto and surrounding GTA regions. It should be noted that the low-rise market segments, including detached and semi-detached houses and townhouses, were the drivers of sales growth. Condominium apartment sales were up on an annual basis for the second straight month but to a lesser degree.
The following data is a comparison...
Toronto Regional Real Estate Board President Lisa Patel announces that Greater Toronto Area REALTORS® reported 11,081 sales through TRREB’s MLS® System in July 2020 – a 29.5% increase over July 2019 and a new record for the month of July. On a preliminary seasonally adjusted basis, sales were up by 49.5% compared to June 2020.
Year-over-year sales growth was driven by low-rise home types, particularly in the regions surrounding the City of Toronto. However, condominium apartment sales were also up on an annual basis, including in Toronto.
Total new listings were also up strongly on a year-over-year basis by 24.7%, but this annual growth rate was less than that of sales, which means market conditions tightened on average compared to July 2019. In addition, active listings at the end of...
Toronto Regional Real Estate Board President Lisa Patel announced that Greater Toronto Area REALTORS® reported 8,701 sales through TRREB’s MLS® System in June 2020. This result represented a very substantial increase over the May 2020 sales result, both on an actual (+89%) and seasonally adjusted basis (+84%), and was only down by 1.4% compared to June 2019.
Year-over-year growth in sales was reported in some areas and market segments. Especially notable were the detached and townhouse market segments in the GTA regions surrounding the City of Toronto.
The following data is a comparison between June 2019 and June 2020 numbers, and is current as of July 2020. For last month’s numbers, check out our previous infographic!
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