Toronto and West GTA Real Estate Market Update

Here are the real estate market stats you need to know for July 2021 vs. 2020 home sales in Toronto, Mississauga, Oakville, Burlington

We remain in a seller’s market across the GTA, even with the typical summer slow down that we see in the months of July and August.

Sales volume is down year over year, albeit higher than the 10-year average. More importantly, though is that the property values have increased.

We continue to see a variance in the year-over-year increases between the 416 and 905 areas in our report, with Toronto experiencing more modest increases in value over the same time last year.

Mississauga, Oakville, and Burlington continue to be on fire with incredible double-digit price growth – Oakville with a whopping 21% increase in property values over last year for detached homes.

The condo market has softened over the past couple of months in the 905 with not as significant price growth as compared to April and May 2021, however, this also takes into consideration what was happening last spring as condos took a hit in values and rebounded in the late summer.

We are still in a distinct shortage of listing inventory and although we are starting to see more properties being listed at a fair ‘buy it now’ market price instead of underpricing to attract multiple offers, some 905 area properties continue to sell over ask with multiple buyer interest.

Wondering What Your Home Is Worth In Today’s Market?

It’s important that you have a knowledgeable Realtor on your side who has a strong pulse on today’s market, proven strategies, negotiation skills and is focused on your success.