All-time high average selling price. Intense competition among buyers and lack of inventory continues .

Record breaking 121,712 sales reported in 2021.
Sales are up 28% compared to 2020.
Average selling price hit an all-time high at $1,095,475
City of Toronto saw a resurgence in demand for homes across all types in 2021.
“Tight market conditions prevailed throughout the GTA and broader Greater Golden Horseshoe in 2021, with a lack of inventory noted across all home types. The result was intense competition between buyers, pushing selling prices up by double digits year-over-year. Looking forward, the only sustainable way to moderate price growth will be to bring on more supply. History has shown that demand-side policies, such as additional taxation on principal residences, foreign buyers, and small-scale investors, have not been sustainable long-term solutions to housing affordability or supply constraints,” said TRREB Chief Market Analyst Jason Mercer.

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December 2021 vs. December 2020

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