Toronto home sales lead to record 2021 despite weaker December

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Published January 6, 2022 at 5:00 am

TORONTO — A resurgence in demand for Toronto homes contributed to record residential real estate sales and prices in 2021 despite a dip in December.

The Toronto Regional Real Estate Board says a record 121,712 homes were sold through its MLS system last year, up 28 per cent compared with 2020 and 7.7 per cent above the previous 2016 high of 113,040.

The average selling price set a peak of $1.095 million, up 17.8 per cent from the prior year’s high of $929,636.

Overall sales in the “416” area code in the city of Toronto surged 36.8 per cent, while sales in the surrounding Greater Toronto Area suburbs increased 23.6 per cent.

Sales in December decreased 15.7 per cent to 6,031 from the record of 7,154 set in December 2020.

Average selling prices increased 24.2 per cent to $1.16 million.

This report by The Canadian Press was first published Jan. 6,  2022.

The Canadian Press

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