Amirtham Remax Realtor

10/19/2022

The average selling price in GTA for Sep 2022 is $1,086,762.

For all your real estate needs in Scarborough, please contact me in 647-542-9464.

07/08/2022

June 2022 Real Estate Market at a Glance

01/09/2022

01/09/2022

According to TRREB, a record 121,712 sales were reported in GTA for the year 2021, up by 7.7% compared to the previous record of 113,040 in 2016.
The average selling price increased to a record $1,095,475 in 2021 compared to the previous record of $929,636 for 2020 – up by 17.8%.

12/04/2021

According to RE/MAX, Canadian real estate prices are expected to increase by 9.2% in 2022!

53% of RE/MAX brokers believe that migration between provinces will continue in 2022.

49% of Canadians believe that real estate market will be steady in 2022 and consider real estate as one of the best investment options.

97% of regions are expected to be in the Seller's market in 2022.

11/20/2021

The average selling price of all homes increased from $968,535 in October 2020 to 1,155,345 om October 2021 – up by 19.3%. The seasonally adjusted average selling price increased by 1.5%.

The number of new listings in October 2021 came down by 34.1% compared to October 2020 while the %Sales to New Listings Ratio increased by 24% during the same period.

11/20/2021

According to TRREB, 9783 residential sales were reported in Greater Toronto Area (GTA) during October 2021 - down by 6.9% compared to the October 2020 record of 10,503. The seasonally adjusted sales increased from 8840 in September 2021 to 9716 in October 2021 – up by 9.9%.

The average selling price of all homes increased from $968,535 in October 2020 to 1,155,345 om October 2021 – up by 19.3%. The seasonally adjusted average selling price increased by 1.5%.

The number of new listings in October 2021 came down by 34.1% compared to October 2020 while the %Sales to New Listings Ratio increased by 24% during the same period.

The annual rate of average price growth remained in the double digits including for the resurgent Condo segment.

11/13/2021

Canadian Real Estate Market is seeing higher share of condos in 2021, due to staggering increase in the price of detached homes.

According to RE/MAX CANADA 2021 Condominium Report, the greatest gains in sales growth were made in the West, with Greater Vancouver and Calgary seeing 87% and 83% increase in Condo sales respectively between January 1 and August 31 of 2021 compared to the same period in 2020.

In the East, Greater Toronto Area (GTA) led by 71% increase in Condo sales, followed by Halifax-Dartmouth with 36% and Ottawa at 29%.

11/07/2021

The Condo apartment market continued to grow strongly in 2021.

According to TRREB, in Greater Toronto Area (GTA) Condo apartment sales increased from 7060 in Q3 2020 to 7810 in Q3 2021 – up by 10.6%.
On the other hand, new listings were down by 31% during the same period, indicating tightened market conditions and increasing competition among buyers.

The average selling price increased from $633,596 in Q3 2020 to $689,831 in Q3 2021 – up by 8.9%.

11/07/2021

The Condo apartment market continued to grow strongly in 2021.

According to TRREB, in Greater Toronto Area (GTA) Condo apartment sales increased from 7060 in Q3 2020 to 7810 in Q3 2021 – up by 10.6%.

On the other hand, new listings were down by 31% during the same period, indicating tightened market conditions and increasing competition among buyers.

The average selling price increased from $633,596 in Q3 2020 to $689,831 in Q3 2021 – up by 8.9%.

11/06/2021

According to TRREB, 9783 residential sales were reported in Greater Toronto Area (GTA) during October 2021 - down by 6.9% compared to the October 2020 record of 10,503. The seasonally adjusted sales increased from 8840 in September 2021 to 9716 in October 2021 – up by 9.9%.

The average selling price of all homes increased from $968,535 in October 2020 to 1,155,345 om October 2021 – up by 19.3%. The seasonally adjusted average selling price increased by 1.5%.

The number of new listings in October 2021 came down by 34.1% compared to October 2020 while the %Sales to New Listings Ratio increased by 24% during the same period.

The annual rate of average price growth remained in the double digits including for the resurgent Condo segment.

10/10/2021

According to TRREB, Greater Toronto Area (GTA) reported 9046 residential sales in September 2021 compared to 11,033 in September 2020 - down by 18%. The seasonally adjusted sales went up by 0.7% compared to August 2021.
The average selling price in September 2021 increased to $1,136,280 compared to $960,613 in September 2020 - up by 18.3%. The seasonally adjusted average price went up by 1.8% compared to August 2021.
Total new listings in September 2021 decreased by 34% compared to September 2020 while the %Sales to New Listings Ratio increased by 13% for the same period.

The following are the average prices for different home types in GTA:
Detached: $1,526,465
Semi detached: $1,114,696
Freehold townhouse: $1,016,269
Condo townhouse: $789,983
Condo apartment: $708,521

Low rise market segments like detached, semi detached and townhouses continued to drive the price growth in September. The interesting fact is that the condo apartment prices have started to increase in the past few months. This trend is expected to continue in the near future.