By The Numbers 

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

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9,390

TREB Sales 

July  2021

11,033

TREB Sales 

July 2020

$1,062,256

TREB Average 

July 2021

$943,594

TREB Average Price July 2020

July Numbers 2021

  • Number of Sales 2021
    9,390 | -14.9%
  • Number of Sales 2020
    11,033
  • Number of New Listing 2021
    12,551 | -30.7%
  • Number of New Listings 2020
    18,119
  • Number of Active Listing 2021
    9,732 | -35.2%
  • Number of Active Listings 2020
    15,018
  • Average Price 2021
    $1,062,256| +12.6%
  • Average Price 2020
    $943,594
  • Average Days on the Market (DOM) 2021
    15 Days | -11.8%
  • Average Days on the Market (DOM) 2020
    17 Days

TREB Market Summary

With almost 9,400 sales reported in July 2021, demand for ownership housing remained well-above average for the time of year despite being below the record July result set a year earlier. Market conditions actually tightened relative to July 2020, with sales accounting for a greater share of new listings compared to last year. The sellers’ market conditions sustained a double-digit annual rate of price growth.

“Demand for ownership housing has remained strong despite a pandemic-related lull in population growth. Of specific note is the condominium apartment market, which has seen a marked turn-around in 2021 with sales up compared to last year. First-time buyers, many of whom were slower to benefit from the initial recovery phase, remain very active in the marketplace,” said TRREB President Kevin Crigger.

Greater Toronto Area REALTORS® reported 9,390 sales through TRREB’s MLS® System in July 2021 – down by 14.9 percent compared to July 2020 result of 11,033. On a seasonally adjusted basis, July sales were down by two per cent compared to June.

The MLS® Home Price Index Composite Benchmark was up by 18.1 percent compared to July 2020. The average price for all home types combined was $1,062,256 – up 12.6 percent compared to July 2020. The detached market segment led the way in terms of price growth, driven by sales in the suburban regions surrounding Toronto. On a seasonally adjusted basis, the average price was up by 0.9 percent compared to June.

“The annual rate of price growth has moderated since the early spring but has remained in the double digits. This means that many households are still competing very hard to reach a deal on a home. This strong upward pressure on home prices will be sustained in the absence of more supply, especially as we see a resurgence in population growth moving into 2022,” 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

$1,405,478 | +21.7%

4,121 | -26.4%

Townhouse

$849,950 | +15.9%

1,694 | -8.2%

Semi Det. 

$1,027,895 | +12.2%

868 | -18.5%

Condo Apt.

$647,490 | +6.0%

2,614 | +8.2%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    850 | -22.3%.
  • 905 - Detached
    3,271 | -27.4%
  • 416 - Semi Detached
    278 | -25.3%
  • 905 - Semi Detached
    590 | -14.9%
  • 416 - Townhouse
    368 | -6.1%
  • 905 - Townhouse
    1,326 | -8.7%.
  • 416 - Condos
    1,756 | +4.2%
  • 905 - Condos
    858 | +17.2%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,633,649 | +5.7%
  • 905 - Detached
    $1346,186| +27.0%
  • 416 - Semi Detached
    $1,205,814| +2.1%
  • 905 - Semi Detached
    $944,062 | +21.1%
  • 416 - Townhouse
    $893,347 | +5.1%
  • 905 - Townhouse
    $837,906 | +19.3%
  • 416 - Condo
    $715,977| +6.7%
  • 905 - Condo
    $589,582 | +11.7%.

Economic Indicators

  • Real GDP Growth | Q1 - 2021
    Down | 5.7%
  • Toronto Employment Growth | June 2021
    Up | 11.8%
  • Inflation Rate (Yr/Yr CPI Growth) | June 2021
    Up | 3.1%
  • Toronto Unemployment Rate | May 2021
    Up | 9.6%
  • Bank of Canada Overnight Rate | July 2021
    Unchanged | 0.25%
  • Prime Rate | July 2021
    Unchanged | 2.45%
  • Mortgage Rates June 2021 (1yr/3Yr|5Yr)ly
    2.79% | 3.49% | 4.79%
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