On this page, you can find VIP Condos Toronto's summary of the Toronto Regional Real Estate Board (TRREB)'s July 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 July 2021 - as well as specific info on both condo and home prices in the GTA:
Real Estate Market Watch: Residential Transactions
- 9,390 residential home transactions took place in July 2021, down from 11,033 in July 2020 - a decrease of 14.9%.
- When seasonal adjustments are taken into account, there was a 2% decrease in the number of purchases from June 2021 (9,011) to July (8,827).
July 2021 Real Estate News: Average Selling Prices
- The average sale price for July 2021 was $1,062,256. This is an increase of 12.6% over July 2020, when it was $943,594.
- With seasonal adjustments, prices saw a 0.9% increase from June 2021 (from $1,061,331 to $1,071,401).
Monthly Market Update: New Listings
- There were 12,551 listings available for July 2021, which is a 30.7% decrease over July 2020 (when there were 18,119).
- The sales-to-listings ratio has increased by 14% from July 2020, from 61% to 75%.
Real Estate Market Watch for July 2021: Days On The Market
- The average property spent 20 days on the market, compared to 25 last year - a decrease of 20%.
- Listings spent an average of 15 days on the market, which is an 11.8% decrease from this month last year (when they spent an average of 17).
Click Here To Read TRREB's July 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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