Year-over-year growth in the first quarter of 2021 condominium apartment sales well outstripped growth in listings over the same period in the Greater Toronto Area (GTA). With market conditions tightening, average condo prices for Q1 2021 were above the averages for Q1 2020 for the regions surrounding the City of Toronto. The average condo selling price in Toronto remained below last year’s level.
First-quarter 2021 condominium apartment sales reported by GTA REALTORS® totalled 9,398 – up 79.8 percent compared to 5,226 in Q1 2020. The number of new listings in Q1 2021 amounted to 11,373 – a 42.8 percent increase over Q1 2020. Active listings totalled 2,811 at the end of Q1, an increase of 23.6 percent compared to the end of Q1 2020.
The overall GTA average condominium apartment selling price was down by 1.4 percent year over year in Q1 2021 to $645,219. The decline in the overall GTA average selling price was entirely driven by a 4.6 percent decline in the average selling price in Toronto to $675,844 over the same period.
Source: https://trreb.ca/files/market-stats/condo-reports/condo_report_Q1-2021.pdf
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