All-time high average selling price. Intense competition among buyers and lack of inventory continues .
- Record breaking 121,712 sales reported in 2021.
- Sales are up 28% compared to 2020.
- Average selling price hit an all-time high at $1,095,475
- City of Toronto saw a resurgence in demand for homes across all types in 2021.
- “Tight market conditions prevailed throughout the GTA and broader Greater Golden Horseshoe in 2021, with a lack of inventory noted across all home types. The result was intense competition between buyers, pushing selling prices up by double digits year-over-year. Looking forward, the only sustainable way to moderate price growth will be to bring on more supply. History has shown that demand-side policies, such as additional taxation on principal residences, foreign buyers, and small-scale investors, have not been sustainable long-term solutions to housing affordability or supply constraints,” said TRREB Chief Market Analyst Jason Mercer.
Want more details? Check out TRREB's Full Report
December 2021 vs. December 2020
December 2021 vs. November 2021
Click here to see Toronto Real Estate Board's Full Report
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