Monthly Housing Market Trends Report for July 2021

By: Susan Macarz

Monthly Housing Market Trends Report for July 2021

Tags: GTA REAL ESTATE MARKET, JULY MARKET UPDATE 2021, TORONTO HOMES, VAUGHAN HOMES, RICHMOND HILL HOMES, MARKHAM HOMES, SUSAN MACARZ

Despite falling behind the record July result established a year ago, demand for ownership homes remained far above typical for the time of year in July 2021, with almost 9,400 transactions registered. Compared to July 2020, market conditions have tightened, with sales accounting for a larger percentage of new listings compared to last year's inventory levels. As a result of the sellers' market circumstances, prices increased at a double-digit yearly pace. 
 

YEAR-OVER-YEAR DATA FOR ALL HOME TYPES 





 

Stats retrieved from TRREB 

July 2021 saw 9,390 sales through the MLS® System of the Greater Toronto Area Realtors, down 14.9% from July 2020's total of 11,081. July's sales were down 2% seasonally adjusted from June.  

 

All property types combined had an average price of $1,062,256, up 12.6 percent from July 2020. Detached homes led the way in price increases, owing to suburban Toronto home sales. Compared to June, the average price was up 0.9 percent. 

 

Despite a slowdown in population growth caused by the pandemic, demand for owning homes has remained robust. The condominium apartment market, in particular, has experienced a significant turnaround in 2021, with sales up compared to previous year. First-time home buyers, who were among the last to gain from the first rebound, are nevertheless active in the market. 

 

Since early spring, the yearly pace of price growth has slowed but remained in the double digits. This means that many families are still battling it out to get a good price on a house.  


 

IN TORONTO, VAUGHAN, RICHMOND HILL, AND MARKHAM,  

YEAR-OVER-YEAR DATA SHOW SUBSTANTIAL GROWTH. 








Stats retrieved from TRREB 

 

According to the most recent MLS statistics, the average property price in all four locations is $1,216,590, with new listings down nearly 50%. With 46 more houses sold compared to last year, Markham appears to have the biggest average home price rise of 15 percent. 

  

With rising property prices in Toronto, Vaughan, Richmond Hill, and Markham, now is an ideal time to sell your home because market conditions imply that housing demand will continue to rise. 

  

Check out available listings in Toronto, Vaughan, Richmond Hill and Markham today! 

 

If you have any queries about the GTA, whether you're a buyer or seller of a house or condo.  Contact Susan Macarz, Real Estate Broker, RE/MAX ULTIMATE Realty Inc., Brokerage. She will gladly assist you with any real estate needs you may have.