Are you interested in buying or selling real estate in Toronto this year? The real estate market in the GTA is red-hot and understanding its trends and patterns will help you secure a great deal. To find out if prices are going up or down and if buyers are interested in your property’s location, keep reading.  

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Average Prices Stayed the Same

In June 2021, the average price for a detached home in the GTA was $1,089,536. While this shows little change from the month before, it is 17 per cent higher than the average price in June 2020. This means that regardless of the lack of change from last month to this month, it is still an excellent time to sell your home for an amazing price.  

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Fewer Listings on the MLS

There were just over 5,000 listings added to the MLS in the last 28 days, each spending an average of 15 days on the market. There are a few reasons for this, most notably the season. Now that it is summer and most buyers have gotten their vaccinations, they’re taking off to cottages and other vacations. Fewer people are listing their homes right now.

However, these numbers don’t take into account off-market listings.  

Sellers who choose to sell off-market don’t publish their listings to the online database. Instead, only buyers who are vetted by the realtor and are highly interested are shown the property. If you’re looking to sell, this option is ideal if you value your privacy and you only want the most qualified buyers to see your home.

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GTA Cities with the Fastest Turnover

Some GTA cities sell homes faster than others. In the past month, the cities with listings that spend the least amount of time on the MLS are Halton Hills (9 days), Ajax (9 days), Uxbridge (9 days), and Pickering (11 days). The cities with listings that spend the most time on the MLS were Mono (25 days), King (21 days), Georgina (19 days), and Richmond Hill (18 days).  

These numbers do not reflect off-market listings which can sell much faster than properties listed on the MLS.  

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Why You Should Consider Buying and Selling Off-Market

There are many benefits of buying and selling your property off-market. Not only do sellers get to control who visits their home and maintain their privacy, but they can also test the market before listing on the MLS. Buyers can enjoy less competition for listings since the general public doesn’t have access to them.  

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Interested in Buying or Selling in the GTA?

The Toronto real estate market can be stressful if you’re navigating it alone. If you want access to the most prestigious off-market listings or you’d like to list your home off-market, our team has the expertise you need. Learn more about how we can help make your real estate dreams come true here.