Residential transactions reported through TRREB’s MLS® System remained high in May 2021, but fell short of the 2016 record and were below this year’s March peak. Despite a slight ebb in sales over the last two months, market conditions remained tight enough to push the average selling price to an all-time record in May.
For the second year, the Toronto Regional Real Estate Board (TRREB) and its Members are supporting COVID-19 relief efforts. The immediate contribution of over $300,000 in concert with the Ontario REALTORS Care® Foundation (ORCF) will help 40 charities and support the most vulnerable during the third wave of the pandemic. This is in addition to the $744,116 donated at the end of 2020, as part of the $1 per Member per Month Every REALTOR® campaign in support of the ORCF.
Home sales in the Greater Toronto Area (GTA) set a new record for April and amounted to more than quadruple that from April 2020 – the first full month of the pandemic. Bucking the regular seasonal trend, April 2021 sales actually declined month-over-month. A similar trend was noted for the number of new listings reported.
In the first quarter of 2021, average condominium apartment rents were down on a year-over-year basis, continuing to reflect a supply imbalance in favour of renters. However, year-over-year growth in rental transactions outstripped growth in the number of units listed over the same period, suggesting that rental market conditions are starting to tighten in the Greater Toronto Area (GTA) once again.
Year-over-year growth in first quarter 2021 condominium apartment sales well outstripped growth in listings over the same period in the Greater Toronto Area (GTA). With market conditions tightening, average condo prices for Q1 2021 were above the averages for Q1 2020 for the regions surrounding the City of Toronto. The average condo selling price in Toronto remained below last year’s level.
The Toronto Regional Real Estate Board (TRREB) and the TRREB Women in Real Estate Task Force are thrilled to host an inaugural women-focused virtual event, Real Women. Real Lives. Real Stories., happening on Wednesday, April 14, 2021.
For the third straight month of 2021, record home sales continued in March across the Greater Toronto Area (GTA) with buyers taking advantage of favourable borrowing costs and continued improvement in many sectors of the economy.
Record home sales in the Greater Toronto Area (GTA) continued in February as buyers remained confident in their employment situations and took advantage of ultra-low borrowing costs. With multiple buyers continuing to compete for many available listings, double-digit annual price growth was the norm throughout the GTA, with stronger rates of growth in the suburbs surrounding the City of Toronto.
The Toronto Regional Real Estate Board (TRREB) Past President’s Scholarship has helped send 46 deserving students to university or college since it first launched in 2007.
“We believe in investing in the future and hope the Past President’s Scholarship will make a difference for the secondary school students on the path to higher education. TRREB is committed to supporting the next generation of decision-makers and innovators to reach their career goals,” said Lisa Patel, TRREB President.
The Toronto Regional Real Estate Board (TRREB) is applauding Toronto City Council for listening to our concerns and not implementing an increase to the Municipal Land Transfer Tax (MLTT), and, instead, directing staff to conduct a comprehensive study of all revenue tools and options for the City. TRREB had expressed that a potential MLTT increase could further constrain the supply of homes for sale in Toronto, thereby exacerbating housing supply and affordability challenges, especially for those purchasing modest homes.
The Toronto Regional Real Estate Board (TRREB), real estate data experts Teranet Inc. and technology specialists AMP Systems LLC (a sister company of Stratus Data Systems) are joining forces to launch an exciting, next-generation Multi-List Platform and Blockchain solution.
The Toronto Regional Real Estate Board (TRREB) is raising concerns about the potential for City Council to increase the Municipal Land Transfer Tax (MLTT) when it meets next week to approve the City’s 2021 Budget. TRREB’s concerns focus on the potential for the tax increase to further constrain the supply of homes for sale in Toronto, thereby exacerbating housing supply and affordability challenges, especially for those purchasing modest homes.