TRREB just brought out their September 2021 sales figures. Not surprisingly, prices were up 18% year over year but when seasonally adjusted, they were only up 1.8% from August 2021. Volume was drastically down 18% year over year and only slightly up by 0.7% from August 2021.

This is due to the fact that in September 2020 we were still seeing the impact of COVID pricing, lower interest rates and other items that were effecting the real estate market. The basically flat numbers from the previous month speaks to a “levelling off” of demand this fall to a steadier market where we are going to be getting back to a range of 6-8% market value increase. What is interesting is in the luxury home market where in C01-15 (Central Toronto) the volume of $5M homes sold in September 2020 vs 2021 rose from 12 to 23, an almost 100% increase.

I believe October will continue in this trend of 10-12% increase in prices from 2020 and a mild increase in prices from September.

As always, if you have further questions and/or wish to discuss real estate specifically as it concerns you, please don’t hesitate to contact me.