On this page, you can find VIP Condos Toronto's summary of the Toronto Regional Real Estate Board (TRREB)'s December 2021 real estate market watch, with info on prices & trends in the region's housing market. VIP's report will provide information such as an overall real estate market outlook, updates & news from December 2021 - as well as specific info on both condo and home prices in the GTA:
Real Estate Market Watch: Residential Transactions
- 6,031 residential home transactions took place in December 2021, down from 7,154 in December 2020 - a decrease of 15.7%.
- When seasonal adjustments are taken into account, there was a 0.2% decrease in the number of purchases from November 2021 (9,487) to December 2021 (9,465).
December 2021 Real Estate News: Average Selling Prices
- The average sale price for December 2021 was $1,157,849. This is an increase of 24.2% over December 2020, when it was $932,297.
- With seasonal adjustments, prices saw a 2.5% increase from November 2021 (from $1,176,682 to $1,206,444).
Monthly Market Update: New Listings
- There were 5,174 listings available for December 2021, which is a 11.9% decrease from December 2020 (when there were 5,870).
- The sales-to-listings ratio has increased by 5% from December 2020, from 117% to 122%.
Real Estate Market Watch for December 2021: Days On The Market
- The average property spent 19 days on the market, compared to 35 last year - a decrease of 45.7%.
- Listings spent an average of 14 days on the market, which is a 41.7% decrease from this month last year (when they spent an average of 24).
Click Here To Read TRREB's December 2021 Real Estate Market Watch Report for Both Homes and Condos
In order for you to use these monthly market updates to your advantage, our informative guide for buying pre-construction properties can be found under the Resources tab in the top right corner of this page. It will answer common questions such as:- How do I get my down payment?
- Can I use my RRSP for my down payment?
- How can I make the profits from my pre-construction purchases tax-free?
- What type of home or mortgage can I afford?
- Which incentives are available for first-time buyers?
- What is a PDI?
- What are the pros & cons of buying or selling an assignment before closing?
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