On this page, you can find VIP Condos Toronto's summary of the Toronto Regional Real Estate Board (TRREB)'s October 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 October 2021 - as well as specific info on both condo and home prices in the GTA:
Real Estate Market Watch: Residential Transactions
- 9,783 residential home transactions took place in October 2021, down from 10,503 in October 2020 - a decrease of 6.9%.
- When seasonal adjustments are taken into account, there was a 9.9% increase in the number of purchases from September 2021 (8,840) to October 2021 (9,716).
October 2021 Real Estate News: Average Selling Prices
- The average sale price for October 2021 was $1,155,345. This is an increase of 19.3% over October 2020, when it was $968,535.
- With seasonal adjustments, prices saw a 1.5% increase from September 2021 (from $1,124,716 to $1,141,524).
Monthly Market Update: New Listings
- There were 11,740 listings available for October 2021, which is a 34.1% decrease from October 2020 (when there were 17,806).
- The sales-to-listings ratio has increased by 24% from October 2020, from 59% to 83%.
Real Estate Market Watch for October 2021: Days On The Market
- The average property spent 18 days on the market, compared to 24 last year - a decrease of 25%.
- Listings spent an average of 13 days on the market, which is a 23.5% decrease from this month last year (when they spent an average of 17).
Click Here To Read TRREB's October 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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