Market Stats - August 2021
August 2021 TRREB MLS sales were the third best on record for the month, behind 2020 and 2016 respectively. While 8,596 sales is an impressive volume for August, GTA Realtors and their clients were working with the lowest housing supply in a decade, down 50.8% year over year and equal to just 4 weeks of inventory, and with an average price increase across all property types of 12.6%. Condos were the only property type with increased unit sales from a year ago. With a price differential of 107% between condos and detached homes, despite the average condo price climbing to a new high of $688,568, condos were a significantly more affordable option than the average detached home at $1,423,807.