October Real Estate Market

Toronto Real Estate Board October MLS sale statistics:

• GTA single family home sales including condominiums - 9,783.
• Volume - down 6.9%, compared to October 2020 10,503 sales.
• Volume - up 8.1% compared to September 2021 9,046 sales.
• Average price of a GTA single family home - $1,086,304.
• Up 16.8% from 2020's average price of $929,636.

“The tight market conditions across all market segments and areas of the GTA is testament to the broadening scope of economic recovery in the region and household confidence that this recovery will continue. A key part of future economic development in the GTA will be the ability to provide adequate ownership and rental housing supply so that people can continue to move to the region to live, work and spend money in the local economy,” said Jason Mercer, TRREB Chief Market Analyst.

We track MLS sales daily.

• November 2016 to May 30th 2017, 90% of central district properties sold over asking price.
• Ocober 2021 30-70% of central district properties sold for asking or under daily.

The October residential resale market was a story of a strong freehold market and a condominium market which continues to show strength in specific locations and for specific types.

• The GTA freehold inventory remains very limited.
• October some well-priced or under-priced homes sold for over asking price in bidding wars or "bully offers".
• Some ambitiously priced properties remain unsold after 2, 3 months or more.
• The number of new MLS listings was down about 1/3 compared to October 2020.
• Rental accommodation saw renewed demand in 2021. Average rents have increased across all unit types.