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2021 was the third most successful August on record for the Greater Toronto Area in terms of sales, according to the Toronto Regional Real Estate Board (TRREB).
Although August tends to be a month when house sales dip a little as would-be buyers go on vacation or rest, this year’s strong performance demonstrates just how high the demand for homeownership remains.
The successful August is partly due to the low number of listings on the market currently, which has created tighter market conditions and increased buyer competition. Specifically, the number of new listings this month is 43% lower than last year, which is a stark drop compared to 2020 and the last decade.
