By: Gary Singh

GTA Real Estate Market Update May 2021

Tags: HOMES FOR SALE. TORONTO. MILTON, BURLINGTON, MISSISSAUGA. 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 1   8.6%     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.