The numbers are in for March 2021 real estates market…Although I usually compare the previous years month to the most recent statistic, last year in the second week of March we had the shutdown…All of Ontario was essentially closed, and the real estate market, along with every industry during that time suffered. So it is hard to Compare last years March totals to this year, where the market is on fire!
Instead, we are going to look at march numbers, and see how the first quarter compared the first quarter of 2020. Let’s get to the numbers.
March continued to be hot for sales and average prices across the GTA.
We had 15,652 sales in March increasing the 2021 first quarter amount to 33,502 sales this is 41.3% increased compare to the first quarter last year.
Average sale prices in March saw the overall sale price soar over $1M for the second time in TREB history.
The average sale price for March for all major home types was $1,097,565!
The average sales prices for the first quarter for 2021 is $1,053,557, this is up 15.5% compared to the first quarter of last year.
Single family home results:
Average price of a detached home was just over $1.4M = 26.6% increase
Average price of a semi detached home was $1.04M = 17.5% increase
Town homes average price was just over $870K = 20.7% increase
The condo segment results:
Overall, average sales price increased by 2.6%. Average price for March was $676K.
With the lack of listings and the increases in sales, we currently have under a month worth of inventory .07Months to be exact❗️
If you have one take away from this report; it’s that we have an increase of demand and extremely low inventory. We are still in a seriously strong sellers market. So if you have ever thought about the possibility of selling your home🏡, now may be your best opportunity!
If you want to know how your area is affected by real estate market conditions, or have any real estate questions, call or text me at 416-876-9998 or email me at email@example.com