The Toronto Regional Real Estate Board (TRREB) just released their January 2021 sales Market Watch – a copy of which can be found HERE. And well, it seems that January 2021 has continued the Toronto real estate trend of breaking real estate records yet again!
January 2021 home sales amounted to 6,928 – up by more than 50 per cent compared to January 2020. This strong start to 2021 included sales growth across all major segments including condominium apartments, both in the City of Toronto and surrounding GTA regions.
TRREB MARKET WATCH – 8th february 2021
And that was not the only good news for home owners who have perhaps been inundated with articles & blog posts asserting that Toronto real estate is in a bubble that’s about to burst. Not only has it not burst, but it is continuing to be a solid and quickly accruing asset class in a sea or murky or unpredictable investments currently available to most smaller investors.
In addition to breaking records for most sales in a January over-all and as compared to last year, 2020, specifically, the Toronto real estate market has also broken other records.
The average selling price for January 2021 was up by 15.5 per cent to $967,885 year-over-year. The MLS® HPI Composite Benchmark was up by 11.9 per cent over the same period.
TRREB MARKET WATCH – 8TH FEBRUARY 2021
Here is an infographic produced by Royal LePage that visually represents the Toronto housing market for January 2021:
And, here were the major real estate media’s reactions to the TRREB Market Watch report for January 2021:
- CP24: HERE
- CTV NEWS: HERE
- TORONTO STAR: HERE
- 680 AM NEWS: HERE
- TORONTO STOREYS: HERE
- BETTER DWELLING: HERE
- GLOBE & MAIL: HERE
- BLOGTO: HERE
- THE DEEP DIVE: HERE
- HUFFPOST CANADA: HERE
- TORONTO URBANIZED: HERE
- NARCITY: HERE
And further, here are the latest Housing Reports from Canada’s big banks:
- RBC ECONOMICS: HERE
- CIBC ECONOMICS: HERE
- TERANET-NATIONAL BANK HOUSE PRICE INDEX: HERE, HERE, HERE and HERE
- NOTE: Nothing new yet from Scotiabank, BMO nor TD
If you would like more information about the Toronto real estate market in general, or if you would like to discuss buying or selling real estate in Toronto specifically, please do not hesitate to call, text, or email me at any of my contacts below. I will only be too happy to assist you.
SHAWN VENASSE – Sales Representative
The Elli Davis Team at Royal LePage Real Estate Services Ltd, Brokerage
416.921.1112 office
416.921.9066 x. 344 direct
416.921.7424 fax
800.622.9536 toll free
416.670.7042 mobile
shawn@ellidavis.com email
