Although the real estate market has taken its regular summer breather, August 2021 still recorded the third-best August sales results on record. The demand for home ownership remains strong but the supply of listings across the board is down. The tighter market conditions and competition between buyers continues, resulting in double-digit increases in sales prices year over year.
With the federal election looming, all parties vying for office have made housing supply and affordability a major focal point. Working with provincial and municipal levels of government on solving the supply related issues will be key to dealing with the current market conditions and the impact of market conditions in the months and years to come.
Here is a glimpse at what The Toronto Real Estate Board REALTORS through TREB's MLS System has released in York and Simcoe Region for the month of August 2021:
York Region :
The average sales price is up slightly compared to July 2021 with a +1.48% increase and up +18.25% compared to August 2020!
The number of sales has dropped -8.32% from July 2021
The number of sales year over year are down -16.19% from July 2020!
Simcoe Region :
The average sales price is up +2.57% compared to July 2021, and up an incredible +29.80% compared to August 2020!
The number of sales have dropped -15.07% from July 2021!
The number of sales year over year have also dropped a whopping -46.90% from August 2020!
Here are the numbers:
I specialize in York and Simcoe, however, if you or anyone you know would like to discuss the market or specific neighborhood, please don't hesitate to contact me anytime.
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