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By The Numbers 

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

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9,783

TREB Sales 

October 2021

10,503

TREB Sales 

October 2020

$1,155,345

TREB Average 

October 2021

$968,535

TREB Average Price October 2020

October Numbers 2021

  • Number of Sales 2021
    9,783 | -6.9%
  • Number of Sales 2020
    10,503
  • Number of New Listing 2021
    11,740 | -34.1%
  • Number of New Listings 2020
    17,806
  • Number of Active Listing 2021
    7,750 | -55.2%
  • Number of Active Listings 2020
    17,313
  • Average Price 2021
    $1,155,345| +19.3%
  • Average Price 2020
    $968,535
  • Average Days on the Market (DOM) 2021
    13 Days | -23.5%
  • Average Days on the Market (DOM) 2020
    17 Days

TREB Market Summary

Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately one-third compared to October 2020. Market conditions tightened across all major home types compared to last year, and the annual rate of average price growth remained in the double digits, including for the resurgent condominium apartment segment.

“The only sustainable way to address housing affordability in the GTA is to deal with the persistent mismatch between demand and supply. Demand isn’t going away. And that’s why all three levels of government need to focus on supply. The federal government has stated that collaboration with provinces and municipalities is required. This collaboration could be spearheaded, at least in part, with housing-related incentives tied to federal infrastructure investment,” said TRREB President Kevin Crigger.

GTA REALTORS® reported 9,783 sales through TRREB’s MLS® System in October 2021 – down by 6.9 percent compared to the October 2020 record of 10,503. A strong double-digit increase in condominium apartment sales mitigated annual declines in low-rise home sales. The number of new listings entered into the system was down by almost a third over the same period, with consistent declines across all major home types.

The MLS® Home Price Index Composite Benchmark was up by 24.2 percent year-over-year. The average selling price for all homes combined rose by 19.3 percent year-over-year to $1,155,345. The low-rise market continued to drive price growth in October, but the annual price growth for condominium apartments was in the double digits as well.

“The tight market conditions across all market segments and areas of the GTA is testament to the broadening scope of economic recovery in the region and household confidence that this recovery will continue. A key part of future economic development in the GTA will be the ability to provide adequate ownership and rental housing supply so that people can continue to move to the region to live, work and spend money in the local economy,” 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

$1,540,432 | +27.7%

4,279 | -18.3%

Townhouse

$957,103 | +27.9%

1,629| -11.1%

Semi Det. 

$1,151,770 | +24.1%

878 | -17.1%

Condo Apt.

$703,698| +13.0%

2,899 | +28.9%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    1,061 | -13.1%.
  • 905 - Detached
    3,218 | -19.9%
  • 416 - Semi Detached
    367 | -11.1%
  • 905 - Semi Detached
    511 | -20.9%
  • 416 - Townhouse
    428 | +5.4%
  • 905 - Townhouse
    1,201 | -15.8%.
  • 416 - Condos
    1,913 | +33.7%
  • 905 - Condos
    986 | +20.5%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,784,979 | +21.2%
  • 905 - Detached
    $1,459,803| +29.7%
  • 416 - Semi Detached
    $1,322,229| +14.4%
  • 905 - Semi Detached
    $1,029,347| +31.5%
  • 416 - Townhouse
    $1,025,257 | +23.5%,
  • 905 - Townhouse
    $932,815 | +28.6%
  • 416 - Condo
    $739,647 | +10.6%
  • 905 - Condo
    $633,951| +17.0%.

Economic Indicators

  • Real GDP Growth | Q2 - 2021
    Down | -1.2%
  • Toronto Employment Growth | September 2021
    Up | 7.5%
  • Inflation Rate (Yr/Yr CPI Growth) | September 2021
    Up | 4.4%
  • Toronto Unemployment Rate | September 2021
    Down | 8.9%
  • Bank of Canada Overnight Rate | October 2021
    Unchanged | 0.25%
  • Prime Rate | October 2021
    Unchanged | 2.45%
  • Mortgage Rates September 2021 (1yr/3Yr|5Yr)
    2.79% | 3.49% | 4.79%
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