A Look at the 3rd Quarter Real Estate Market…

October 26, 2021 | Uncategorised

After a slower summer market (the public was busy enjoying their lockdown-free lives), September marked the transition into the busier fall market.

Market conditions tightened compared to September 2020, with sales representing a substantially higher share of listings.  The number of listings was down 34% from last September with the number of sales down 18%.  This caused the average sale price to increase 18.3% from September 2020 to $1,136,280.

A note on this lack of supply from TRREB President Kevin Crigger-

“Demand has remained incredibly robust throughout September with many qualified buyers who would buy a home tomorrow provided they could find a suitable property. With new listings in September down by one third compared to last year, purchasing a home for many is easier said than done. The lack of housing supply and choice has reached a critical juncture. Bandaid policies to artificially suppress demand have not been effective. This is not an issue that can be solved by one level of government alone. There needs to be collaboration federally, provincially, and locally on a solution.”

And a note on the improving condo market from TRREB Chief Market Analyst, Jason Mercer-

“Price growth in September continued to be driven by the low-rise market segments, including detached and semidetached houses and townhouses. However, competition between buyers for condo apartments has picked up markedly over the past year, which has led to an acceleration in price growth over the past few months as first-time buyers reentered the ownership market. Look for this trend to continue,”

Please reach out with questions anytime, we’re always happy to chat. 

Below is a look at average freehold prices & condo prices per square foot from the 3rd quarter, organized by neighbourhood.  I also include the average price from the 3rd quarter of 2020 for comparison.

 

Average Freehold Sale Prices 

WEST

THE KINGSWAY

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Sale Price, 2020 Q3
$2,064,752
$1,788,000
$2,448,954
n/a
$2,232,746

SUNNYLEA

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$2,518,618
$2,317,656
$3,121,667
n/a
$1,639,497

EDENBRIDGE-HUMBER VALLEY

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$2,550,444
$1,688,820
$2,880,111
$3,241,633
$1,973,533

PRINCESS ROSETHORN

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,983,427
$1,787,682
$2,495,000
n/a
$1,966,861

ISLINGTON-CITY CENTRE

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,744,966
$1,420,942
$2,549,800
n/a
$1,485,938

MIMICO

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,329,485
$1,312,135
$1,388,357
$1,879,250
$1,192,384

ALDERWOOD

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,361,715 
$1,278,447
$1,669,125
n/a
$1,216,089

BLOOR WEST VILLAGE

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,589,108
$1,436,057
$1,980,113
n/a
$1,443,794

HIGH PARK-SWANSEA

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$2,050,984  
$1,771,839
$2,403,252
$2,388,714
$1,944,175

HIGH PARK NORTH

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,789,433
$1,604,141
$1,919,250
$2,409,600
$1,683,560

RONCESVALLES

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,787,035  
$1,439,411
$2,073,250
$2,066,667
$1,457,165

JUNCTION

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$ 1,318,966  
$ 1,188,103
$ 1,636,875
n/a
$1,256,343

DOVERCOURT-WALLACE EMERSON-JUNCTION

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,368,365  
$1,303,923
$1,642,364
$1,446,722
$1,243,305

CENTRAL

TRINITY BELLWOODS

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,698,726
$1,745,680
$1,814,917
$1,847,667
$1,772,160

LITTLE ITALY

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3

$1,814,671
$1,960,500
$1,775,643
$1,887,225
$ 1,870,431

LITTLE PORTUGAL

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$ 1,527,711
$1,389,629
$1,795,016
n/a
$1,373,472

EAST

SOUTH RIVERDALE/LESLIEVILLE

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,459,252 
$1,468,782
$1,705,628
$1,995,000
$1,348,023

BEACHES

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,890,628  
$1,755,436
$2,671,000
n/a
$1,654,002

DANFORTH

Average Sale Price, 2021 Q3
3 Bedroom
4 Bedroom
5 Bedroom
Average Price, 2020 Q3
$1,281,102
$1,263,102
$1,650,143
n/a
$1,247,257

Average Condo Prices Per Square Foot 

CENTRAL

KING WEST

2021 Q3
2020 Q3
$1,064 
$1,014

LIBERTY VILLAGE

2021 Q3
2020 Q3
$1,016   
$932

TRINITY BELLWOODS/LITTLE ITALY

2021 Q3
2020 Q3
$997 
$1,005

YORKVILLE

2021 Q3
2020 Q3
$1,209 
$1,130

QUEENS QUAY

2021 Q3
2020 Q3

$1,080
$981

YONGE-EGLINGTON

2021 Q3
2020 Q3
$1,020
$947

KING EAST

2021 Q3
2020 Q3
$1,051 
$1,009

MOSS PARK

2021 Q3
2020 Q3
$1,010
$951

WEST

DOVERCOURT-WALLACE EMERSON-JUNCTION

2021 Q3
2020 Q3
$970 
$843

HIGH PARK

2021 Q3
2020 Q3
$918
$849

KINGSWAY/SUNNYLEA

2021 Q3
2020 Q3
$828
$887

MIMICO

2021 Q3
2020 Q3
$943
$849

EAST

SOUTH RIVERDALE/LESLIEVILLE

2021 Q3
2020 Q3
$973
$989

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