Anne  Adams

Anne Adams

Broker/Owner and Broker of Record

TORONTO WEST REALTY INC., Brokerage*

Mobile:
(416) 801-7653
Office:
(416) 255-7653
Email Me

Toronto Regional Real Estate Board Market Watch Update 

Toronto Regional Real Estate Board Market Watch Update

TORONTO, ONTARIO, January 6, 2022 – A record 121,712 sales were reported through TRREB’s MLS® System in 2021 –

up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020. Record demand last year was

up against a constrained supply of listings, with new listings up by 6.2 per cent – a lesser annual rate than sales. The result

was extremely tight market conditions and an all-time high average selling price of $1,095,475 – an increase of 17.8 per cent

compared to the previous 2020 record of $929,636.

“Despite continuing waves of COVID-19, demand for ownership housing sustained a record pace in 2021. Growth in many

sectors of the economy supported job creation, especially in positions supporting above-average earnings. Added to this was

the fact that borrowing costs remained extremely low. These factors supported not only a continuation in demand for ground-

oriented homes, but also a resurgence in the condo segment as well,” said TRREB President Kevin Crigger.

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 per cent) 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.


“Tight market conditions prevailed throughout the GTA and broader Greater Golden Horseshoe in 2021, with a lack of

inventory noted across all home types. The result was intense competition between buyers, pushing selling prices up by

double digits year-over-year. Looking forward, the only sustainable way to moderate price growth will be to bring on more

supply. History has shown that demand-side policies, such as additional taxation on principal residences, foreign buyers,
and

small-scale investors, have not been sustainable long-term solutions to housing affordability or supply constraints,” said

TRREB Chief Market Analyst Jason Mercer.

In December, GTA REALTORS® reported 6,031 sales – a strong result historically, but still down by more than 1,000

transactions (-15.7 per cent) compared to the record of 7,154 set in December 2020. Over the same period, new listings

were down by 11.9 per cent to 5,174. The MLS® Home Price Index Composite benchmark was up by 31.1 per cent year-

over-year in December. The average selling price was up by 24.2 per cent annually to $1,157,849.

 

 

 

"Click on this link to view the Market Watch by the Numbers for December 2021"

 

 

Please E-mail me at  aadams@torontowestrealty.com  or

 

Call me on my easy to remember numbers for any real estate matter.

Anne Adams

 

416 255 SOLD (7653)   or

Cell  416 801 SOLD (7653)

 

Anne Adams, Broker of Record
Toronto West Realty Inc., Brokerage

aadams@TorontoWestRealty.com

www.TorontoWestRealty.com

 

Have Questions?

By submitting this form, you are providing express consent to receive commercial electronic messages from www.torontowestrealty.com. You may unsubscribe at any time.

(416) 801-7653

  

(416) 255-7653