By The Numbers 

The Toronto Real Estate Boards statistics year over year for the month of April. 

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13,663

TREB Sales 

April  2021

2,957

TREB Sales 

April 2020

$1,090,992

TREB Average 

April 2021

$820,226

TREB Average Price April 2020

April Numbers 2021

  • Number of Sales 2021
    13,663 | +362.1%
  • Number of Sales 2020
    2,957
  • Number of New Listing 2021
    20,825 | +237.0%
  • Number of New Listings 2020
    6,180
  • Number of Active Listing 2021
    10,561 | 10.5%
  • Number of Active Listings 2020
    10,561
  • Average Price 2021
    $1,090,992| +33.0%
  • Average Price 2020
    $820,226
  • Average Days on the Market (DOM) 2021
    10 Days | -47.4%
  • Average Days on the Market (DOM) 2020
    19 Days

TREB Market Summary

Home sales in the Greater Toronto Area (GTA) set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic. Bucking the regular seasonal trend, April 2021 sales actually declined month-over-month. A similar trend was noted for the number of new listings reported.

GTA REALTORS® reported 13,663 sales through TRREB’s MLS® System in April 2021 – a 12.7 percent decrease compared to March 2021, but more than quadruple the number of sales reported in April 2020, when the economic impact of COVID-19 was arguably the worst. Compared to the ten-year sales average of 10,000 for the April 2010 to April 2019 period, the April 2021 sales result was up by 36.6 percent.

New listings followed a similar track – down by 8.4 percent compared to March 2021, but more than triple the number of new listings reported in April 2020. Compared to the ten-year new listings average for the April 2010 to April 2019 period, the April 2021 new listings count was up by 18.3 percent.

“While sales remained very strong last month, many REALTORS® noted a marked slowing in both the number of transactions and the number of new listings. It makes sense that we had a pullback in market activity compared to March. We’ve experienced a torrid pace of home sales since the summer of 2020 while seeing little in the way of population growth. We may be starting to exhaust the pool of potential buyers within the existing GTA population. Over the long term, sustained growth in sales requires sustained growth in population,” said TRREB President Lisa Patel.

The MLS® Home Price Index Composite Benchmark was up by 17.8 percent year-over-year. The Composite benchmark also increased on a monthly basis, but the pace of monthly growth decelerated. The average selling price of $1,090,992 was up by 33 percent compared to April 2020, but was basically flat relative to March 2021. This was in contrast to most years in the past when the average selling price increased between March and April.

“Despite a modest slowing in market activity in April compared to March, selling prices for all major home types remained very high. Low borrowing costs during COVID-19 clearly had an impact on the demand for and price of ownership housing. While the pace of price growth could moderate in the coming months, home prices will likely continue on the upward trend. Renewed population growth over the next year coupled with a persistent lack of new inventory will underpin home price appreciation,” said TRREB Chief Market Analyst Jason Mercer.

Breaking Down The Numbers

Sales Numbers, average price  percentage changes over the same time last year.

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Detached

$1,387,629 | +41.3%

6,516 | +365.1%

Townhouse

$857,574 | +25.9%

2,433 | +359.1%

Semi Det. 

$1,068,923 | +23.6%

1,304 | +306.2%

Condo Apt.

$691,791 | +19.6%

3,290 | +394.7%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    1,322 | +326.5%
  • 905 - Detached
    5,194 | +376.1%
  • 416 - Semi Detached
    487 | +289.6%
  • 905 - Semi Detached
    817 | +316.8%
  • 416 - Townhouse
    555 | +440.2%
  • 905 - Townhouse
    1,855 | +338.5%
  • 416 - Condos
    2,277 | +373.4%
  • 905 - Condos
    1,013 | +450.5%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,699,756 | +36.8%
  • 905 - Detached
    $1,308,185| +44.0%
  • 416 - Semi Detached
    $1,308,799 | +19.6%
  • 905 - Semi Detached
    $925,938 | +28.9%
  • 416 - Townhouse
    $960,984 | +20.1%
  • 905 - Townhouse
    $846,401 | +26.8%
  • 416 - Condo
    $707,835 | +18.7%
  • 905 - Condo
    $612,341 | +25.1%

Economic Indicators

  • Real GDP Growth | Q4 - 2020
    Down | +9.5%
  • Toronto Employment Growth | March 2021
    Down | -3.4%
  • Inflation Rate (Yr/Yr CPI Growth) | March 2021
    Up | 2.2%
  • Toronto Unemployment Rate | February 2021
    Up | 10.3%
  • Bank of Canada Overnight Rate | March 2021
    Unchanged | 0.25%
  • Prime Rate | March 2021
    Unchanged | 2.45%
  • Mortgage Rates March 2021 (1yr/3Yr|5Yr)
    2.79% | 3.49% | 4.79%
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