GTA & Durham Market Watch Sept 2021

GTA & Durham MARKET WATCH Sept 2021

Tuesday Oct 12th, 2021

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In this video we’ll talk about the GTA Real Estate Market in September as well as the market in Durham region.

In September we had 9,046 homes sold with the Average Price $1,136,280. The monthly sales were up 5.2% and the price was up 6.1%. The day on market to get a home sold is 14 days.

Since January this year, the total sales were 97,302.

In terms of sales, the City of Toronto had 3,397 homes sold with 13% increase monthly and York Region has 1,695 sold with 4.6% up as well. Peel region had 1,825 sold with 1.3% up, followed by Durham region 1,006 homes sold with 4% down monthly. Halton has 835 sales and 35.6% up.

In terms of price, the City of Toronto $1,090,008 with 9% up and York Region $1,359,010 with increase 5.3% monthly. Peel region $1,087,321 with 4.6% up, followed by Durham $968,136 with 5.4% up. Halton $1,247,856 and 3.5% up.

When we compared the types of homes sold in the market, 61% was freehold and 38% was Condo Apartment and Condo Townhouse. This ratio may continue in the next few months.

We have been talking about the supply of new listings in the market. It seems there was a huge change in September. The new listings in GTA were up 27% from August. A large portion of the new listings came from City of Toronto, which had 41.3% monthly increase. The other two regions are York and Halton which had over 23% increase in new listings.

Speaking of new listings, the supply of detached home in City of Toronto increased by 63% monthly, followed by York and Halton regions.

Let’s look at the Detached home market. The price has been stable in the last 3 months despite of the shortage of supply. However, in September the price really went up 7.2% and the sales up 5.5% monthly.

In Condo Apartment market, the supply of new listings also increased by 24%. Both City of Toronto and Halton region also increase 28% and 36% respectively.

The average price of Condo Apartment in GTA was $708,521 with 2.9% up and 2,664 units sold with 4.7% up monthly.

In the last video I talked about Durham region and city of Ajax. The sales in Durham slightly dropped by 4% and Ajax also dropped by 15%. However, the overall price in Durham was increased by 5.4%. Whitby and Oshawa both had increase in price 9% and 8% respectively.

In conclusion, it was good news that the supply of homes finally increased in September. It may slow down the pace of price. However, the price in detached home really went up very fast especially in Toronto Central (14.8%) monthly, York (7.4%) up and Peel region (6.0%) up. These increases are monthly appreciation.

In fact there are 252 Detached homes sold in Toronto Central with the average price was $2,777,650 in September. It means a lot of buyers are willing to invest a lot of money in Toronto in this challenge market.

If you want to know more about the market in your area or you are planning to buy or sell, please give me a call. I can help you at this time.

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