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Real Estate Market Watch – June 2021

Posted by Thomas on July 7, 2021
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On this page, you can find VIP Condos Toronto’s summary of the Toronto Regional Real Estate Board (TRREB)’s June 2021 real estate market watch, with info on prices & trends in the region’s housing market. VIP’s report will provide information such as an overall real estate market outlook, updates & news from June 2021 – as well as specific info on both condo and home prices in the GTA:

Monthly Market Update - June 2021

Sales & Average Prices - June 2021 - monthly market update GTA

 

Real Estate Market Watch: Residential Transactions

  • 11,106 residential home transactions took place in June 2021, up from 8,645 in June 2020 – an increase of 28.5%.
  • When seasonal adjustments are taken into account, there was a 9.1% decrease in the number of purchases from May 2021 (9,770) to June (8,885).

June 2021 Real Estate News: Average Selling Prices

  • The average sale price for June 2021 was $1,089,536. This is an increase of 17% over June 2020, when it was $931,131.
  • With seasonal adjustments, prices saw an approximately 0% decrease from May 2021 (from $1,061,401 to $1,060,932).

 Monthly Market Update: New Listings

  • There were 16,189 listings available for June 2021, which is a 0.1% decrease over June 2020 (when there were 16,208).
  • The sales-to-listings ratio has increased by 16% from June 2020, from 53% to 69%.

Real Estate Market Watch for June 2021: Days On The Market

  • The average property spent 17 days on the market, compared to 26 last year – a decrease of 34.6%.
  • Listings spent an average of 13 days on the market, which is a 27.8% decrease from this month last year (when they spent an average of 18).

 

Click Here To Read TRREB’s June 2021 Real Estate Market Watch Report for Both Homes and Condos

 

In order for you to use these monthly market updates to your advantage, our informative guide for buying pre-construction properties can be found under the Resources tab in the top right corner of this page. It will answer common questions such as:

  • How do I get my down payment?
  • Can I use my RRSP for my down payment?
  • How can I make the profits from my pre-construction purchases tax-free?
  • What type of home or mortgage can I afford?
  • Which incentives are available for first-time buyers?
  • What is a PDI?
  • What are the pros & cons of buying or selling an assignment before closing?

 We at VIP Condos are pleased to offer further information regarding outlooks & prices in the GTA’s home & condo markets – both for June 2021 and beyond. Check out our full series of real estate market watch reports, as well as our home & condo market outlook for 2021.

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