Toronto Market Update – September 2021

Posted by Nutan Brown on Friday, October 8th, 2021 at 9:35am.

Sales climbed for the first time in five months to start off the fall season, hitting the third-highest mark on record for September according to TRREB.

There were 9,046 home sales in the Toronto region last month compared to 8,596 in August, marking the first month-over-month increase in activity since March.

“Demand has remained incredibly robust throughout September with many qualified buyers who would buy a home tomorrow provided they could find a suitable property,” according to TRREB.

Although more homeowners put their properties up for sale last month, the total number of houses on the market was lower than in the fall of last year.

The average selling price across the Toronto area was $1,136,280, an 18.3% increase compared to last year. On a seasonally adjusted basis, the average price was 1.8% higher than in August.

With summer over and kids back in school, it is no surprise that housing numbers have picked back up. Autumn often sees an uptick and this year is no exception.

Fall market activity is expected to remain steady, despite the ongoing challenges presented by COVID.

If you were thinking of entering the market, now could be a good time.

Feel free to contact me if you have any questions.

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