Toronto Real Estate Market Update (December 2021 wrap-up): At the end of 2021, properties in the GTA reached an all-time high average selling price of $1,095,475 – an increase of 17.8 per cent compared to the previous 2020 record of $929,636.
A record 121,712 sales were reported through TRREB’s MLS® System in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020.
Overall sales in the 416 area code were up by a substantially greater annual rate (+36.8 per cent) compared to sales growth for the surrounding GTA suburbs combined (+23.6 per cent). Economic growth and bolstering of higher-earning positions, along with very low borrowing costs supported a continuing demand for properties in the City.
The story of the supply crunch continues in Toronto real estate. More than ever, it takes market insight, professionalism, persistence and skilled negotiation to find a new home. When it comes to selling, a strategic approach plus a winning plan for staging, marketing and deal-making can help you achieve the best possible outcome.
Contact me any time to chat about current market conditions and find out where you stand.
DIRECT/ TEXT: 416-888-0883
EMAIL: jason@jasongee.com
