By The Numbers 

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

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8,596

TREB Sales 

August  2021

10,738

TREB Sales 

August 2020

$1,070,911

TREB Average 

August 2021

$951,219

TREB Average Price August 2020

August Numbers 2021

  • Number of Sales 2021
    8,596 | -19.9%
  • Number of Sales 2020
    10,738
  • Number of New Listing 2021
    10,609 | -43.0%
  • Number of New Listings 2020
    18,599
  • Number of Active Listing 2021
    8,201 | -50.8%
  • Number of Active Listings 2020
    16,662
  • Average Price 2021
    $1,070,911| +12.6%
  • Average Price 2020
    $951,219
  • Average Days on the Market (DOM) 2021
    16 Days | -5.3%
  • Average Days on the Market (DOM) 2020
    17 Days

TREB Market Summary

TRREB is reporting the third-best sales result on record for the month of August. While the market has taken its regular summer breather, it is clear that the demand for ownership housing remains strong. At the same time, the supply of listings is down. The result has been tighter market conditions and sustained competition between buyers, resulting in double-digit annual increases in selling prices.

Greater Toronto Area REALTORS® reported 8,596 sales through TRREB’s MLS® System in August 2021 – down by 19.9 percent compared to the August 2020 record of 10,738. The condominium apartment market segment bucked the overall sales trend, with year-over-year growth in sales, continuing a marked resurgence in 2021. The number of new listings entered into the System was down year-over-year by 43 percent.

“The fact that new listings were at the lowest level for the past decade is alarming. It is clear that the supply of homes is not keeping pace with demand, and this situation will become worse once immigration into Canada resumes. The federal parties vying for office in the upcoming federal election have all made housing supply and affordability a focal point. Working with provincial and municipal levels of government on solving supply-related issues is much more important to affordability than interfering with consumer choice during the home buying and selling offer process or revisiting demand-side policies that will at best have a short-term impact on market conditions,” said TRREB President Kevin Crigger.

The August 2021 MLS® Home Price Index Composite Benchmark was up by 17.4 percent year-over-year. The average selling price for all homes combined was up by 12.6 percent year-over-year to $1,070,911. The strongest annual rates of price growth are still being experienced for low-rise home types. However, average condominium apartment price growth is now well above inflation as well. On a seasonally adjusted basis, the average selling price continued to trend upward in August.

“Sales have accounted for a much higher share of new listings this year compared to last, and the story was no different in August. There has been no relief on the supply side for home buyers, in fact, competition between these buyers have increased. As we move toward 2022, expect market conditions to become tighter as population growth in the GTA starts to trend back to pre-COVID levels,” 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

$1,423,807 | +21.4%

3,704 | -31.5%

Townhouse

$873,961 | +17.7%

1,509| -19.0%

Semi Det. 

$1,031,580 | +13.9%

750 | -29.3%

Condo Apt.

$688,568| +9.4%

2,544 | +11.3%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    694 | -36.6%.
  • 905 - Detached
    3,010 | -30.2%
  • 416 - Semi Detached
    228 | -32.3%
  • 905 - Semi Detached
    522 | -27.9%
  • 416 - Townhouse
    328 | -11.8%
  • 905 - Townhouse
    1,181 | -20.8%.
  • 416 - Condos
    1,756 | +13.2%
  • 905 - Condos
    806 | +7.5%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,674,641 | +11.2%
  • 905 - Detached
    $1,365,973| +25.6%
  • 416 - Semi Detached
    $1,214,624| +4.1%
  • 905 - Semi Detached
    $951,629| +21.2%
  • 416 - Townhouse
    $905,520 | +8.3%
  • 905 - Townhouse
    $865,196 | +20.2%
  • 416 - Condo
    $720,832| +7.1%
  • 905 - Condo
    $618,997| +14.5%.

Economic Indicators

  • Real GDP Growth | Q1 - 2021
    Down | 5.7%
  • Toronto Employment Growth | July 2021
    Up | 11.0%
  • Inflation Rate (Yr/Yr CPI Growth) | July 2021
    Up | 3.7%
  • Toronto Unemployment Rate | July 2021
    Up | 9.8%
  • Bank of Canada Overnight Rate | August 2021
    Unchanged | 0.25%
  • Prime Rate | August 2021
    Unchanged | 2.45%
  • Mortgage Rates August 2021 (1yr/3Yr|5Yr)
    2.79% | 3.49% | 4.79%
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