TRUSTWELL REALTY INC. Brokerage's blog

Sales volume decreased but is still high for this time of year. New and active listings decreased further squeezing sales prices upward. Population growth said to be resurging.

Sales figures up compared to last year but somewhat similar to May 2021. Volume remained stable while new listings fell, continuing supply squeeze. More demand expected with reduced COVID restrictions and immigration resuming in months.

Slightly fewer sales than last two months although average prices still push upward. While economic recovery and low borrowing costs fueled buyer confidence, population growth was behind pace. Demand remains strong while new and active listings ebb higher.

Numbers are strong compared to this time last year when COVID impact was arguably its greatest. Sales showed slowing down compared to last month possibly due to pool of buyers showing exhaustion. Selling prices remained high in part due to low borrowing costs and strong demand.

Strong buyer demand continued into March while new and active listings gain more traction. Considering COVID-19 measures were enacted mid-March 2020, we still saw 41% more sales activity compared to the 1st half of March 2020 and 174% in the 2nd half.

Strong buyer demand continued into February, especially in suburbs around the City of Toronto, again outpacing supply. Even condo activity has increased by 64.3%. Population growth and widespread vaccinations could magnify these issues later in the year.

Strong price growth from high sales activity outpacing new listings. Largest increases came from low-rise homes.

Housing market recovered as a whole with record average selling prices reported for December with strongest growth low-rise homes surrounding Toronto. Low-rise: Lower supply fuelled strong price growth. Condos: Higher supply led to price stagnation.

Despite slight contraction from October, record volume and prices continued for November year-over-year. For condos, greater choice from improved supply resulted in more affordable pricing.

Year-over-year stats improved. Although sales slowed slightly from September, average prices of homes went up except for condo apartments. These were still overall record numbers for the time of year. TRREB expects the pent-up demand activity to continue.