Finally, 2021 is over the horizon

By: Thomas Cook

Finally, 2021 is over the horizon

Hi, I’m Thomas Cook from Toronto's Real Estate Team at RE/MAX and here is our December 2021 and year-end Toronto real estate market report.
 
The most noteworthy December statistic is the lowest-ever number of active listings there were at the end of the month… a mere 3,232 across the entire GTA.
 
Let’s review some of the Toronto Real Estate Board statistics and see what’s happened.
 
December numbers came in strong historically with 6,031 sales of houses and condos across the GTA.  Although 16% below the strong end of 2020, sales surpassed most previous Decembers.  An ultra-low supply of inventory contributed to keeping appreciation high.
 
Condo townhouse and high-rise suites had a record high percentage of total sales in December (42.1%) signalling condos are back in demand.  2,539 units were sold in the month making that the 2nd highest-ever for the month of December.
 
The December 2021 average sale price for all GTA homes came in at $1,157,849… a big 24.2% increase compared to one year ago.  If you compare this December to December 2019, two years ago, the average sale price is up 38.2%.
 
The active listing inventory is one of the strongest indicators of how slow or fast the market has been moving.  The ‘active listing’ inventory average for the month of December was down 59% compared to last year at this time with just 3,232 active listings this year.
 
The sales-to-listings OR percent-chance-of-selling ratio is how we determine what type of market we’re actually in.  24-28% is a neutral market, below 24% is a buyer’s market and above 28% is a seller’s market.
 
With our busy market, the December ratio bumped up to 187% which is representative of an ultra-busy seller’s market.
 
The days-on-market average for GTA / Toronto homes was one day slower at 14 days.
 
Here’s a snapshot summary of the significant real estate milestones for Toronto in DECEMBER 2021 as we end the year.


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