November sales continue to break records. Selling prices up 21.4% Year-over-Year and 2.5% from October and Days on Market down 35% from 28 days to 18 days. With this, new listings are down which is driving up prices (supply and demand).

What is interesting, the area of Rosedale and Moore Park (C09) is having a very aggressive Fall, with prices up over 20% each month and unit sales up. 2021 will show the strongest unit sales in years! The other area that I watch is C02 which encompasses the Annex, Seaton Village, Casa Loma and Yonge and Summerhill (west of Yonge). This area also has seen prices and unit sales go way up year-over-year with the highest unit sales in 4-5 years and dollar sales up 15-20% this fall.

As we enter a “new phase of COVID” with the Omicron virus creating new restrictive travel measures and closing off of Canadian borders to some countries starting in early December it has many rethinking their travel plans for Christmas and the winter months, fearful that we may go back to those shut downs of the spring of 2020. Hopefully this will not happen and all these preventive measures ensure that the new virus is minimized and we go into 2022 with a much more positive and upbeat approach.

While we are in early December and the Christmas lights are out and the seasonal music is playing and stores and restaurants are open and there definitely is a sense of joy (albeit a sense of unsureness as well) in the air I want to wish you all a healthy holiday season and hopefully we can all look around and find a reason for thanks.

Market Insights

Toronto Real Estate Market Update: November 2021

Glenhome Real Estate

416.495.3140

Joe@GlenhomeRealEstate.com