By The Numbers 

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

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9,046

TREB Sales 

September 2021

11,033

TREB Sales 

September 2020

$1,136,280

TREB Average 

September 2021

$960,613

TREB Average Price September 2020

September Numbers 2021

  • Number of Sales 2021
    9,046 | -18.0%
  • Number of Sales 2020
    11,033
  • Number of New Listing 2021
    13,483 | -34.0%
  • Number of New Listings 2020
    20,441
  • Number of Active Listing 2021
    9,191 | -49.4%
  • Number of Active Listings 2020
    18,167
  • Average Price 2021
    $1,136,280| +18.3%
  • Average Price 2020
    $960,613
  • Average Days on the Market (DOM) 2021
    14 Days | -12.5%
  • Average Days on the Market (DOM) 2020
    16 Days

TREB Market Summary

September marked the transition from the slower summer market to the busier fall market in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September 2021 was no different. Sales increased relative to August and were also at the third-highest mark on record for the month of September. The average selling price was up both month-over-month and year-over-year.

GTA REALTORS® reported 9,046 sales through TRREB’s MLS® System in September 2021 – up in line with the regular seasonal trend from August. Compared to last year, market conditions tightened noticeably, with sales representing a substantially higher share of listings, and a significantly lower number of new listings across the board. Resurgence in the condo market was a factor in the higher share of listings sold. The total number of sales was down 18 percent from 2020’s record September result, in large part due to the lower number of new listings, which were down 34 percent from the same time last year.

“Demand has remained incredibly robust throughout September with many qualified buyers who would buy a home tomorrow provided they could find a suitable property. With new listings in September down by one-third compared to last year, purchasing a home for many is easier said than done. The lack of housing supply and choice has reached a critical juncture. Bandaid policies to artificially suppress demand have not been effective. This is not an issue that can be solved by one level of government alone. There needs to be collaboration federally, provincially, and locally on a solution,” said Kevin Crigger, TRREB President.

The MLS® Home Price Index Composite Benchmark was up by 19.1 percent year-over-year in September 2021. The average selling price for all home types combined was up by 18.3 percent year-over-year to $1,136,280. “Price growth in September continued to be driven by the low-rise market segments, including detached and semidetached houses and townhouses. However, competition between buyers for condo apartments has picked up markedly over the past year, which has led to an acceleration in price growth over the past few months as first-time buyers reentered the ownership market. Look for this trend to continue,” said Jason Mercer, TRREB Chief Market Analyst.

Breaking Down The Numbers

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

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Detached

$1,526,465 | +28.9%

3,908 | -29.3%

Townhouse

$873,961 | +17.7%

1,509| -19.0%

Semi Det. 

$1,114,696 | +20.8%

824 | -27.5%

Condo Apt.

$688,568| +9.4%

2,544 | +11.3%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    895 | -22.6%.
  • 905 - Detached
    3,013 | -31.1%
  • 416 - Semi Detached
    325 | -22.8%
  • 905 - Semi Detached
    499 | -30.2%
  • 416 - Townhouse
    365 | -8.8%
  • 905 - Townhouse
    1,193 | -20.0%.
  • 416 - Condos
    1,792 | +16.0%
  • 905 - Condos
    872 | +7.3%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1778,928 | +19.5%
  • 905 - Detached
    $1,451,471| +31.4%
  • 416 - Semi Detached
    $1,304,504| +13.9%
  • 905 - Semi Detached
    $991,073| +25.2%
  • 416 - Townhouse
    $930,056 | +7.2%
  • 905 - Townhouse
    $902,853 | +26.0%
  • 416 - Condo
    $744,730 | +8.5%
  • 905 - Condo
    $634,111| +18.0%.

Economic Indicators

  • Real GDP Growth | Q2 - 2021
    Down | -1.2%
  • Toronto Employment Growth | August 2021
    Up | 9.1%
  • Inflation Rate (Yr/Yr CPI Growth) | August 2021
    Up | 4.1%
  • Toronto Unemployment Rate | August 2021
    Down | 9.3%
  • Bank of Canada Overnight Rate | September 2021
    Unchanged | 0.25%
  • Prime Rate | September 2021
    Unchanged | 2.45%
  • Mortgage Rates September 2021 (1yr/3Yr|5Yr)
    2.79% | 3.49% | 4.79%
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