GTA Real Estate Market February 2021 TRREB Report

GTA Real Estate Market February 2021 

We have been experiencing a scorching hot seller’s market since the start of 2021. This is a direct result of buyer confidence with the current ultra low borrowing costs. For each listing there are multiple offers leading to double-digit growth in residential home sales.

This has had a ripple effect on the condo market. Buyers who are missing out on single family homes are setting their sights on condos, providing a renewed buyer interest in this housing segment. Buyers are willing to put in firm offers, sometimes without even viewing the property, at prices well over asking, when typically Financing, Status Review or Inspection are standard clauses.

Find other interesting trends and projections in our recent blog on on the GTA Real Estate Market Outlook for 2021.

View Some of our Recent Sold Listings

3 BR Detached Home in Milton

2 BR Freehold Townhome in Ancaster

1 BR Stacked Condo Townhouse in Mississauga

2 BR + Den One Park Tower Condo

GTA Real Estate TRREB Market Report February 2021 Highlights

  • Record home sales in the Greater Toronto Area (GTA) continued
  • Multiple buyers competition led to double-digit annual price growth throughout the GTA, with stronger growth in the suburbs
  • 10,970 sales reported through TRREB’s MLS® System in February 2021 which is a 52.5% increase to February 2020
  • The condo apartment segment led the way with a 64% sales increase compared to last year
  • The average selling price was up by 14.9% to $1,045,488
  • Detached, semi-detached & townhouses in suburban areas were drivers of average price growth, with annual rates of increase above 20% in all three cases

Read Full TRREB Market Watch February 2021 Market Watch Report

Sales & Average Home Price by Major Home Type: 416 vs. 905 Areas of the GTA

GTA Area Map

SALES & AVERAGE PRICE BY MAJOR HOME TYPE
February 2021
Sales Average Price
416 905 Total 416 905 Total
Detached 915 4,028 4,943 $1,684,073 $1,300,853 $1,371,791
Semi-detached 295 682 977 $1,324,244 $932,551 $1,050,820
Townhouse 341 1,500 1,841 $913,037 $845,518 $858,025
Condo Apt 2,167 949 3,116 $676,837 $563,587 $642,346

View TRREB February 2021 Market Stats as Charts

Average Prices by Home Type – February 2021

Detached Home Average Price by City –  February 2021
Detached  Semi-Detached Condo Towns Condo Apartment
Burlington $1,539,817 $907,889 $774,084 $579,142
Milton $1,299,962 $985,207 $671,149 $608,289
Oakville $1,802,469 $1,138,094 $797,694 $613,817 $
Brampton $1,185,341 $895,546 $ $669,670 $484,554
Mississauga $1,516,116 $1,001,178 $744,566 $ $555,330
Toronto $1,684,073 $1,324,244 $817,803 $676,837

View TRREB February 2021 Market Watch for Prices for other Cities.

Search For Sales Listings in Mississauga & Other Parts of the GTA.

Source: TRREB February 2021 Market Watch


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