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Report on last months NewsGTA Resale Housing Sales Up |
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This charts below show the historical annual price and sales volumes to current month:
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Report as of Thursday, November 11, 2021In this Issue of my newsletter |
This is the report for latest month in real estate sales from the Toronto Regional Real Estate Board and indicates a 'normal' amount of activity and price levels.
Below is the latest release of figures
Highlights of the latest report from TRREB for the Residential Real Estate Market in the GTA Real Estate Prices UP and Sales Volume DOWN - Mississauga and GTA Real Estate Newsletter November 2021 - Issue 11:10 This months Real Estate Update brings more positive news from our real estate market here in Mississauga, Toronto and the GTA. Enjoy and I wish you all the best! Mark
See more at this page about average prices and read the TRREB full price and data report below. |
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PRESS RELEASE: Sales & Price Growth Continue last monthSee the full press release below. Please refer to this page to see a graph of Average prices and More |
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This is the full price and data report from TRREB for last monthGTA REALTORS® RELEASE MONTHLY RESALE HOUSING MARKET FIGURES TRREB RELEASES RESALE MARKET FIGURES AS REPORTED BY GTA REALTORS® GTA REALTORS® RELEASE OCTOBER STATS TORONTO, ONTARIO, November 3, 2021 – Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately one-third compared to October 2020. Market conditions tightened across all major home types compared to last year, and the annual rate of average price growth remained in the double digits, including for the resurgent condominium apartment segment. “The only sustainable way to address housing affordability in the GTA is to deal with the persistent mismatch between demand and supply. Demand isn’t going away. And that’s why all three levels of government need to focus on supply. The federal government has stated that collaboration with provinces and municipalities is required. This collaboration could be spearheaded, at least in part, with housing-related incentives tied to federal infrastructure investment,” said TRREB President Kevin Crigger. GTA REALTORS® reported 9,783 sales through TRREB’s MLS® System in October 2021 – down by 6.9 per cent compared to the October 2020 record of 10,503. A strong double-digit increase in condominium apartment sales mitigated annual declines in low-rise home sales. The number of new listings entered into the system was down by almost a third over the same period, with consistent declines across all major home types. The MLS® Home Price Index Composite Benchmark was up by 24.2 per cent year-over-year. The average selling price for all homes combined rose by 19.3 per cent year-over-year to $1,155,345. The low-rise market continued to drive price growth in October, but the annual price growth for condominium apartments was in the double digits as well. “The tight market conditions across all market segments and areas of the GTA is testament to the broadening scope of economic recovery in the region and household confidence that this recovery will continue. A key part of future economic development in the GTA will be the ability to provide adequate ownership and rental housing supply so that people can continue to move to the region to live, work and spend money in the local economy,” said TRREB Chief Market Analyst Jason Mercer. Mark |
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See the season trends in graphical form
I hope this finds you Happy and Healthy!
All the Best!
Mark
Read about Housing market indicators from last month
Summary of TorontoMLS Sales and Average Price
Sales by housing type
Below is a Graph showing TRREB Historical Average Price Data
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See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!
See how the historical 1 year mortgage interest rate compares to the 5 year rate
This graph shows the 1989 real estate recession in the GTA and how long it took to recover from the drop in the average price from the peak price in February of 1989 to 2002
Statistics Canada, Quarter-over-quarter growth, on an annual basis, Statistics Canada, Year-over-year growth for the most recently reported month, Bank of Canada, Rate from most recent Bank of Canada announcement Bank of Canada, Rates for most recently completed month
Of Mississauga’s 240,660 households, 66,655 or 27.7 per cent were renters in 2016, earning an annual income of $58,272. The average cost of rent and utilities per month for Mississauga renters came in at $1,281 compared to $1,109 for the rest of Ontario.
Notes:
1 - Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TRREB
MLS® system between the first and last day of the month/period being reported.
2 - New listings entered into the TRREB MLS® system between the first and last day of the month/period being reported.
3 - Active listings at the end of the last day of the month/period being reported.
4 - Ratio of the average selling price to the average listing price for firm transactions entered into the TRREB MLS® system
between the first and last day of the month/period being reported.
5 - Average Listing Days on Market (Avg. LDOM) refers to the average number of days sold listings were on the market.
Average Property Days on Market (Avg. PDOM) refers to the average number of days a property was on the market before
selling irrespective of whether the property was listed more than once by the same combination of seller and brokerage during
the original listing contract period.
6 - Active listings at the end of the last day of the month/period being reported.
7 - Past monthly and year-to-date figures are revised on a monthly basis.
8 - SNLR = Sales-to-New Listings Ratio. Calculated using a 12-month moving average (sales/new listings).
9 - Mos. Inv. = Months of Inventory. Calculated using a 12-month moving average (active listings/sales).
Historic Sales Figures
Rental Market indicators in the GTA
 Next Step in Selling Process |
Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale | All Pages including Mississauga Real Estate Blog all maintained by info@mississauga4sale.com Copyright © A. Mark Argentino, P.Eng., Broker, RE/MAX Realty Specialists Inc., Brokerage, Mississauga, Ontario, Canada L5M 7A1 (905) 828-3434 First created - Tuesday, July 16th, 1996 at 3:48:41 PM - Last Update of this website: Thursday, June 1, 2023 6:45 AM
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