By: Julia Szemplinski

GTA REAL ESTATE MARKET UPDATE - MAY 2021

Tags: HOMES FOR SALE, TORONTO, MISSISSAUGA, MILTON, BRAMPTON, OAKVILLE, VAUGHAN, GTA

 

The Resale Real Estate Statistics for the Month of April 2021 are in and Here are the Key Facts

- 13,663 sales reported through Toronto Real Estate Board’s MLS (up 362% from April 2020).


- Average selling price of all home types was up 33% year over year.


- Only 0.85 months of standing inventory.


Here are some additional year over year statistics based on area and type of home, that will shed some more light on the overall market conditions.


Toronto Statistics - Year over Year Average price change

 

 

Yr/Yr Change

Monthly Change

Detached

40.1%

-2.9%

Semi Det

17.5%

1.6%

Townhouse

27.3%

0.4%

Condo Towns

19.9%

-1.4%

Condo Apartment

15.6%

2.7%

 

 

 

 

Mississauga Statistics – Year over Year Average Price change

 

 

Yr/Yr Change

Monthly Change

Detached

24.3%

4.4%

Semi Det

19.5%

0.3%

Townhouse

19.0%

-0.9%

Condo Towns

15.4%

3.3%

Condo Apartment

6.8%

5.3%

 

Brampton Statistics - Year over Year Average Price change

 

 

Yr/Yr Change %

Monthly Change %

Detached

41.1%

-3.4%

Semi Det

27.6%

-1.1%

Townhouse

25.6%

-0.6%

Condo Towns

23.9%

-2.1%

Condo Apartment

9.2%

2.6%

 

Milton Statistics - Year over Year Average Price change

 
 

 

Yr/Yr Change

Monthly Change

Detached

51.5%

2.2%

Semi Det

34.3%

-3.3%

Townhouse

22.5%

-0.8%

Condo Towns

30.9%

-3.4%

Condo Apartment

18.6%

3.0%

 

Vaughan Statistics - Year over Year Average Price change

 

 

Yr/Yr Change

Monthly Change

Detached

37.4%

-0.19%

Semi Det

25.5%

-2.79%

Townhouse

18.3%

-0.89%

Condo Towns

43.6%

5.44%

Condo Apartment

9.4%

5.33%

 

 

The sales volume for the GTA Market was up by 362% when compared to April 2020, which is more than quadruple the number of sales reported in April 2020, when the economic impact of COVID-19 was

arguably the worst. Number of Sales were down 12.7% when compared to March 2021.

 

Detached homes led the price gains last month, coming in at 41.3% year over year increase.

The inventory level was at 0.85 months at the end of April 2021, which is slightly higher compared to months of inventory at the end of March 2021. The average price of a home in the GTA for March 2021 was $1,090,992, which is up 12% when compared to Jan 2021.

If you are a first time Buyer, this might be a good time to take advantage of historically low interest rates (fixed 5 year rate is under 2%) and buy your first home before the prices go up even higher.

If you need to sell, we can arrange for 3D Virtual tours to facilitate virtual showings to reduce the number of in-person showings. The key in the present market is to price effectively and strategically market the property (call me and we will show you how), staging and presentation play a key role as well.

Please feel free to contact me if you would like me to provide you with detailed market statistics for your area or property.