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By The Numbers 

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

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6,031

TREB Sales 

December 2021

7,154

TREB Sales 

December 2020

$1,157,849

TREB Average 

December 2021

$932,297

TREB Average Price December 2020

December Numbers 2021

  • Number of Sales 2021
    6,031 | -15.7%
  • Number of Sales 2020
    7,154
  • Number of New Listing 2021
    5,174 | -11.9%
  • Number of New Listings 2020
    5,870
  • Number of Active Listing 2021
    3,232 | -59.0%
  • Number of Active Listings 2020
    7,892
  • Average Price 2021
    $1,157,849| +24.2%
  • Average Price 2020
    $932,297
  • Average Days on the Market (DOM) 2021
    14 Days | -45,.7%.
  • Average Days on the Market (DOM) 2020
    24 Days

TREB Market Summary

A record 121,712 sales were reported through TRREB’s MLS® System in 2021 – up 7.7 percent from the previous 2016 high of 113,040 and up 28 percent compared to 2020. Record demand last year was up against a constrained supply of listings, with new listings up by 6.2 percent – a lesser annual rate than sales. The result was extremely tight market conditions and an all-time high average selling price of $1,095,475 – an increase of 17.8 percent compared to the previous 2020 record of $929,636.

“Despite continuing waves of COVID-19, demand for homeownership sustained a record pace in 2021. Growth in many sectors of the economy supported job creation, especially in positions supporting above-average earnings. Added to this was the fact that borrowing costs remained extremely low. These factors supported not only a continuation in demand for ground-oriented homes but also a resurgence in the condo segment as well,” said TRREB President Kevin Crigger.

One sales trend that stood out in 2021 compared to 2020 was the resurgence in demand for homes within the City of Toronto. Overall sales in the “416” area code were up by a substantially greater annual rate (+36.8 percent) compared to sales growth for the surrounding Greater Toronto Area (GTA) suburbs combined (+23.6 percent). The marked recovery in the condominium apartment segment was a key driver of this trend.

“Tight market conditions prevailed throughout the GTA and broader Greater Golden Horseshoe in 2021, with a lack of inventory noted across all home types. The result was intense competition between buyers, pushing selling prices up by double digits year-over-year. Looking forward, the only sustainable way to moderate price growth will be to bring on more supply. History has shown that demand-side policies, such as additional taxation on principal residences, foreign buyers, and small-scale investors, have not been sustainable long-term solutions to housing affordability or supply constraints,” said TRREB Chief Market Analyst Jason Mercer.

In December, GTA REALTORS® reported 6,031 sales – a strong result historically, but still down by more than 1,000 transactions (-15.7 percent) compared to the record of 7,154 set in December 2020. Over the same period, new listings were down by 11.9 percent to 5,174. The MLS® Home Price Index Composite Benchmark was up by 31.1 percent year-over-year in December. The average selling price was up by 24.2 percent annually to $1,157,849.

Breaking Down The Numbers

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

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Detached

$1,598,735 | +28.8%

2,437 | -19.4%

Townhouse

$994,690 | +29.4%

983 | -23.1%

Semi Det. 

$1,181,046 | +25.6%

501 | -14.8%

Condo Apt.

$711,933| +18.5%

2,058 | -5.9%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    567 | -12.9%.
  • 905 - Detached
    1,870 | -21.2%
  • 416 - Semi Detached
    154 | -21.8%
  • 905 - Semi Detached
    374 | -11.3%
  • 416 - Townhouse
    209 | -29.2%
  • 905 - Townhouse
    774 | -21.3%.
  • 416 - Condos
    1,447 | -6.5%
  • 905 - Condos
    611 | -4.7%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,698,178 | +14.9%
  • 905 - Detached
    $1,568,583 | +33.3%
  • 416 - Semi Detached
    $1,342,429 | +15.7%
  • 905 - Semi Detached
    $1109,424 | +33.7%
  • 416 - Townhouse
    $997,208 | +18.3%,
  • 905 - Townhouse
    $994,010 | +33.2%
  • 416 - Condo
    $730,792 | +16.8%
  • 905 - Condo
    $667,269 | +23.4%.

Economic Indicators

  • Real GDP Growth | Q3 - 2021
    Up | 5.3%
  • Toronto Employment Growth | November 2021
    Up| 5.4%.
  • Inflation Rate (Yr/Yr CPI Growth) | November 2021
    Unchanged | 5.4%
  • Toronto Unemployment Rate | November 2021
    Down | 7.7%
  • Bank of Canada Overnight Rate | November 2021
    Unchanged | 0.25%
  • Prime Rate | November 2021
    Unchanged | 2.45%
  • Mortgage Rates November 2021 (1yr/3Yr|5Yr)
    2.79% | 3.49% | 4.79%
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