GTA Condo Market Report October 2021 – Resale & Rental Summary

TRREB’s GTA Condo Market Report October 2021 

The average selling price for Q3 2021 condominium apartment sales was $689,831 – up 8.9% compared to Q3 2020.

The condominium apartment market has experienced strong growth in 2021 and this continued in the third quarter. Sales in Q3 were up substantially compared to the same period last year. In addition, the condo inventory that built up during the initial phases of COVID has been more than absorbed with listings down significantly compared to last year. The result has been the resumption of seller’s market conditions, and above-inflation price increases relative to 2020.

Greater Toronto Area (GTA) REALTORS® reported 7,810 condominium apartment sales through the Toronto Regional Real Estate Board’s (TRREB) MLS® System in Q3 2021. This result was up by 10.6 per cent compared to Q3 2020. Over the same period, new listings were down by 31%. This means that market conditions tightened markedly over the last year, increasing competition between buyers.

Find out what the current price comparison is between Resale and Builder New Condos in Mississauga & Area.

GTA Condo Market Comparison by Region

Condominium Apartment Market Summary
Third Quarter 2021
2021 2020
Total TRREB       7,810 $689,831 7,060 $633,596
Halton Region 381 $685,423 399 $560,874
Peel Region 1,025 $576,149 891 $521,634
City of Toronto 5,279 $726,099 4,765 $680,959
York Region 907 $650,237 722 $579,307
Durham Region 177 $503,506 226 $428,410
Other Areas 41 $583,378 57 $434,642

Condo Market Prices by Select City

Condominium Apartment Market Summary
Third Quarter 2021
Market Average Price
Burlington $661,445
Milton $602,995
Oakville $750,168
Brampton $520,546
Mississauga $585,960
Toronto $726,099

Read the full TRREB Condo Market Report October 2021

GTA Condo Market Report October 2021 – Rental Market Summary

There were 16,121 condominium apartment rentals reported through TRREB’s MLS® System in Q3 2021 – up by 15% compared to Q3 2020.

Over the same period, the number of units listed for rent was down substantially, by almost one-third. The average one-bedroom condominium apartment rent was $2,060 in Q3 2021 – up 2.4% compared to $2,012 in Q3 2020. The average two-bedroom condominium apartment rent was $2,773 in Q3 2021, representing an increase of four per cent compared to $2,666 in Q3 2020.

GTA Condo Market Report October 2021
GTA Condo Market Report October 2021

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