Toronto Market Report

Home sales in the Greater Toronto Area (GTA) were up 16.2 percent for June 2021 from June 2020, with the average price at $1,106,200. The average sales price year-over-year saw the biggest increase in detached homes and townhomes this month.

June home sales were up compared to last year, however they remain below the March 2021 peak, and were lower than the number of transactions reported for May 2021.

Greater Toronto Area REALTORS® reported 11,106 sales through TRREB’s MLS® System in June 2021 – up by 28.5 percent compared to June 2020. Looking at the GTA as a whole, year-over-year sales growth was strongest in the condominium apartment segment, both in the City of Toronto and some of the surrounding suburbs. On a…

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Ottawa Market Report

Home sales in Ottawa were up 24.51 percent for June 2021 from June 2020, with average sales price being $659,929.

Members of the Ottawa Real Estate Board (OREB) sold 2,131 residential properties in June through the Board’s Multiple Listing Service® System, compared with 2,038 in June 2020, an increase of 5 percent. June’s sales included 1,647 in the residential-property class, up 2 percent from a year ago, and 484 in the condominium-property category, an increase of 13 percent from June 2020. The five-year average for total unit sales in June is 2,098.

Year to date sales are tracking 48 per cent higher than last year at this time, which is due to the increased activity in the first five months of 2021 compared to the previous…

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Toronto Market Report

Home sales in the Greater Toronto Area (GTA) were up 10.66 per cent for May 2021 from May 2020, with detached and semi-detached homes seeing the biggest increase.

Toronto Real Estate Board (TRREB) reports that residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record, and were below this year’s March peak. Despite a slight drop in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May.

Greater Toronto Area REALTORS® reported 11,951 sales – more than double the result from May 2020. May 2021 sales were below the May 2016 record of 12,789 but remained well above the average May…

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Ottawa Market Report

Home sales in Ottawa were up 31.6 per cent in May from May 2020, bringing the average sale price to $661,127.

Members of the Ottawa Real Estate Board (OREB) sold 2,296 residential properties in May through the Board’s Multiple Listing Service® System, compared with 1,342 in May 2020, an increase of 71 percent. May’s sales included 1,779 in the residential-property class, up 67 per cent from a year ago, and 517 in the condominium-property category, an increase of 85 per cent from May 2020. The five-year average for total unit sales in May is 2,123.

It is worth noting that there were twice the number of new listings entering the market in May 2021 compared to last May, with approximately 50 units more than the five-year average…

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Toronto - Return to Downtown Core?

Many Torontonians put their downtown Toronto condominiums on the market, in order to move further out of the city into the suburbs where they were able to afford homes with yards. However, two developers do not expect this trend to continue as the pandemic is nearing its end.

During the 2021 Land and Development Conference that was held in June, the impact of COVID-19 on buying trends and design was examined.

Data revealed that 2020 sales of condominium units in the 905 region surpassed the sales in the 416 region for the first time. One developer revealed that he believes this trend is not likely to continue, and sales will increase again in the downtown core, however it will not be exactly as it was before…

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