On this page, you can find VIP Condos Toronto's summary of the Toronto Regional Real Estate Board (TRREB)'s March 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 March 2021, and specific info on both condo and home prices in the GTA:
Real Estate Market Watch: Residential Transactions
- 15,652 residential home transactions took place in March 2021, up from 7,945 in March 2020 - an increase of 97%.
- When seasonal adjustments are taken into account, there was a 0.6% decrease in the number of purchases from February 2021 (13,631) to March (13,545).
March 2021 Real Estate News: Average Selling Prices
- The average sale price for March 2021 was $1,097,565. This is an increase of 21.6% over March 2020, when it was $902,787.
- With seasonal adjustments, prices saw a 4.2% increase from February 2021 (from $1,040,985 to $1,085,071).
Monthly Market Update: New Listings
- There were 22,709 listings available for March 2021, which is a 57.3% increase over March 2020 (when there were 14,434).
- The sales-to-listings ratio has increased by 14% from March 2020, from 55% to 69%.
Real Estate Market Watch for March 2021: Days On The Market
- The average property spent 13 days on the market, compared to 17 last year - a decrease of 23.5%.
- Listings spent an average of 10 days on the market, which is a 23.1% decrease from this month last year (when they spent an average of 13).
Click Here To Read TRREB's March 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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