By: Gary Singh

GTA Real Estate Market Update April 2021

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

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

- 15,652 sales reported through Toronto Real Estate Board’s MLS (up 97% from March 2020).

- Average selling price of all home types was up 21.6% year over year.

- Only 0.68 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

Detached                           19.4%
Semi Detached                  11.5%
Townhouse                        9.6%
Condo Towns                    14.8%
Condo Apartment            -0.7%

Mississauga Statistics – Year over Year Average Price change

Detached   24.3%
Semi Det   19.5%
Townhouse   19.0%
Condo Towns   15.4%
Condo Apartment   6.8%


Brampton Statistics - Year over Year Average Price change

 
Detached   30.8%
Semi Det   18.8%
Townhouse   18.5%
Condo Towns   21.0%
Condo Apartment   -10.1%
 
 
Milton Statistics - Year over Year Average Price change
 
Detached   30.1%
Semi Det   21.9%
Townhouse   22.7%
Condo Towns   25.0%
Condo Apartment   10.1%
 

Vaughan Statistics - Year over Year Average Price change
 
Detached   25.8%
Semi Det   19.2%
Townhouse   14.1%
Condo Towns   -2.1%
Condo Apartment   1.5%
 

The sales volume for the GTA Market was up by 97% when compared to March 2020.  While sales
were strong, it is important to remember that for the second half of March we are comparing against the initial impact of COVID-19 in the second half of March 2020 when sales activity dropped off dramatically.
 
Detached homes led the price gains last month, coming in at 26.6% year over year increase.
The inventory level was at 0.68 months at the end of March 2021, which is slightly lower compared to months of inventory at the end of February 2021. The average price of a home in the GTA for March 2021 was $1,097,565.

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.