July 2021 Greater Toronto Real Estate Market Report

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 market place,” 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 per cent compared to July 2020 result of 11,033. On a seasonally adjusted basis, July sales were down by two per cent compared to June.

While the market has slowed, available listings are generally selling for above asking. If you’re looking to sell, you have an excellent chance of getting a great price on your home – especially if you hire a team with a proven track record. Our advanced marketing techniques, available buyers and uncompromising approach yield consistently excellent results.

Take a look at the detailed numbers below. If you have any questions about the market or selling your home, get in touch – we’re here to help!