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Toronto Real Estate Board Marketwatch Report
August was the third best sales result on record for the month of August. Even so, sales in the GTA in August were down 19.9% at 8,596 compared to sales of 10,738 in August 2020. Market conditions actually tightened relative to August 2020 with sales accounting for a greater share of new listings compared to last year. The sellers' market conditions sustained a double digit annual rate of price growth.
Average sales price in August 2021 was up 12.6% from $951,219 in August 2020 to $1,070,911 in August
Days on the market were 16 in August 2021 compared to 17 days in August 2020 - down 5.3%
Again, like in previous months, sales activity was extremely strong in August in the ground-oriented home types as well as the condominium market due to low inventory and record low interest rates.
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