Greater Toronto Area Market Market Watch June 2021
Thursday Jul 08th, 2021Share
Every month we have a Market Watch Report from Toronto Real Estate Board, The Sales Volume and Average Sold Price in this report mainly came from 5 Major areas and regions… City of Toronto, York, Durham, Peel and Halton. They contributed over 96% of total sales in the whole GTA.
Let’s look at the market in GTA. In June we had 11,106 Sales with the Average Price of $1,089,536. The sales dropped 7.1% and the price also went down by 1.7%. The day on market to get a home sold is 10 days.
If you look at the graph, the average price was stable in the last 4 months although the sales have decreased by 29% since March this year.
The total sales since January this year is 70,270. We probably would have over 130,000 transactions in 2021.
In the city of Toronto, we have 3,850 homes sold with average price $1,047,749. The average price of a detached home is $1,699,881. The sales dropped 6.5% and the price also down by 6.2%. The huge drop in sales is in townhouse by 27.6% monthly, and the next one is in Detached home by 13.5% down. Since the City of Toronto is composed of Toronto East, Toronto Central and Toronto West, the sales and prices would be quite different across the City of Toronto. I would have separate videos for this.
In the York region, the sales were 2,015 with the average sold price $1,241,304. The sales dropped 8.1% monthly and the price was down 4.1%. The huge drop in sales is in semi-detached by 31.9% monthly. The good news is the sales in Condo Apartment up 11.9% monthly with the price of $641,408.
In Durham region, the sales were 1,425 which contributed 12.8% total sales in GTA. The average sold price was $917,267. The sales dropped 9.5% monthly and the price was up 1.7%. The huge drop in sales is in semi-detached by 24.8% monthly. The good news is the sales in Condo Apartment up 8.5% monthly with the price of $522,195.
In Peel region, the sales were 2,281 and the average price was $1,041,440. The sales and prices have dropped 4.1% and 1.3% respectively. The sales in Condo Apartment were up 9.2% with the price of $571,644. The price in Detached home was $1,351,550 with the sales down 5.5% monthly.
The last region is Halton which includes Oakville and Burlington. The sales were 1,096 and the average price was $1,222,263. The sales came down by 8.4% and the price up 2.4%. The average price of a detached home was $1,564,584 (up 2.8% monthly) and the sales in Condo Apartment was stable with the price of $684,750 (up 11.2% monthly).
In conclusion the price in GTA is stable, although the sales were totally down 29% since March. When the Sales in City of Toronto, York and Peel dropped in June, their average prices also dropped at the same time except in Durham and Halton regions where the prices actually were up slightly.