Market Update – March 2021

On in So How's the Market in Toronto by

In March, the Toronto real estate market for detached and semi-detached homes was on fire. However, we did continue to see prices for condos soften.

Central Toronto REALTORS® reported 479 detached home sales through the Toronto MLS® in March 2021; and on average, these detached homes sold for $2,416,727.

Last year, in March 2020, Toronto MLS® reported 287 freehold detached home sales across Toronto – which is a 67% increase in volume for this year. It was also reported that on average, freehold detached homes sold for $1,996,629 in March 2020 – and that’s a 21% increase in sale prices for this March.

With respect to semi-detached homes… Central Toronto REALTORS® reported 374 semi-detached home sales in March 2021; and on average, these semi-detached homes sold for $1,472,842 last month.

That compares to 180 semi-detached home sales in March 2020 – which is a 108% increase in volume for this year. It was also reported that on average, semi-detached homes sold for $1,326,958 in March 2020 – and that’s a 11% increase in sale prices for this March!

With respect to condo sales… Central Toronto REALTORS® reported 1,595 condo sales in March 2021; and on average, these condos sold for $794,826 last month.

In March 2020, there were 809 condo sales – which is a 97% increase in volume for this year. On average, these condos sold for $819,472 – and that’s a 3% decrease in sale prices for this March.

 

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