WHAT'S HAPPENING IN THE MARKET?
2021 was a record-breaking year for the GTA, experiencing a strong seller's market with demand consistently outpacing supply. Despite the tight market conditions and an all-time high average selling price of $1,095,75, 2021 hit a historic record of 121,712 sales - up 7.7% from the previous 2016 high record of 113,040 sales.

Looking at December 2021, the average selling price in the GTA was $1,157,849. An overall increase of 24.2% from $932,004 compared to last year of December.

This increase in price is evident across all home types with the highest being Freehold Townhouses that were up 30.5% from $871,131 (Dec 20) to $1,136,657 (Dec 21). Townhouses were followed closely by Detached Homes that increased by 28.8% from $1,240,975 (Dec 20) to $1,598,735 (Dec 21).

In December, the number of total transactions has dropped 16% from 7,179 to 6,031.

 We ended the year with 122,125 transactions which is a 27.8% increase from 2020 and a 56.5% increase when compared to 2018. 

Active listings are significantly low. We are lower by 59% compared to December 2020 and ended the year with only 3,232 listings in all the GTA. The result of year-long dwindling supply has been intense competition between buyers driving up home prices.

This dramatic decrease in inventory is observable across all home types with the lowest being Condo Apartments by 65.3% from 4,294 to 1,488 listings. 

If you are thinking about buying, selling, investing, or just have some real estate questions, you can reach me directly at 647-298-7500 or by scheduling a meeting with me.

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