February 2021 Real Estate Update

Michelle Hawco
Published on February 24, 2021

February 2021 Real Estate Update

JANUARY 2021 was another EXTREMELY ACTIVE month for Real Estate in the GTA: 

  • TOTAL HOMES SALE IN JANUARY 2021 WERE UP 53.4% COMPARED TO JANUARY 2020.
  • OVERALL, THE AVERAGE SELLING PRICE FOR HOMES IN THE GTA WAS UP 15.5% COMPARED TO JANUARY 2020.SOME REAL ESTATE BOARDS ARE REPORTING AN INCREASE OF AS MUCH AS 33% YEAR OVER YEAR. 
  • DESPITE A LISTING INCREASE OF 20% YEAR OVER YEAR IN THE GTA, INVENTORY LEVELS IN MANY MARKETS IS STILL MUCH LOWER THAN DEMAND.WE EXPECT TO SEE THIS TREND CONTINUE THROUGHOUT THE NEXT SEVERAL MONTHS.

Demand for low-rise style homes including townhouses, semi-detached and detached homes continue to drive the majority of sales in FEBRUARY & MARCH. 

If you have a house to sell, it is still a VERY good time to SELL! INVENTORY IS VERY LOW. Please reach out IF YOU ARE CONSIDERING A MOVE IN 2021! 

Here is a link to the TRREB’s Full Market Watch Report for the month of JANUARY 2021.

Stay safe everyone!