Toronto Real Estate Market Update – October 2021

Key points emerging from October’s data: average sale price has reached record highs, while supply has fallen to record lows. Demand remains strong and robust, but the lack of supply is making it impossible for buyers to find homes to buy. This is driving up prices. The decline in sales year-over- year is a product of low supply. Without the availability of condominium apartments the decline would be even lower. Expect these key points to drive the market to year end and into 2022.