Home sales in the Greater Toronto Area (GTA) were down 15.7 percent from December 2020, while new listings were down by 11.9 percent with a total of 5,174. The price of detached homes was up 15 percent year-over-year with an average price of $1,698,178. The biggest increase year-over year was in the condo category with an average price of $730,792.

One sales trend that stood out in 2021 compared to 2020 was the resurgence in demand for homes within the City of Toronto. Overall sales in the “416” area code were up by a substantially greater annual rate (+36.8 percent) compared to sales growth for the surrounding Greater Toronto Area (GTA) suburbs combined (+23.6 per cent). The marked recovery in the condominium apartment segment was a key driver of this trend.

Read more about the Toronto December 2021 Market Report here:

Posted by Kevin Sharpe on
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