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Home sales reached a new record for the month of November, and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA).

 

In the Durham Region we saw 1013 residential transactions in November 2021 representing a slight decrease of 75 transactions from the same period last year. The number of new listings reported in November of this year, re¬mains steady at 1044. On a month-over-month basis, transactions were slightly lower by 3% from October 2021.

 

A key difference this year compared to last year, is how the condo segment continues to tighten and experience an acceleration in price growth, particularly in suburban areas. This speaks to the broadening of economic recovery, with first-time buyers moving back into the market in a big way this year. The condo and townhouse segments, with lower price points on average, will remain popular as population growth picks up over the next two years.