GTA REALTORS® Release November 2021 Stats

Almost 5.2 Million Square Feet Leased in Q3 2021

TRREB Commercial Network Members reported 5,173,406 square feet of leased space through TRREB's MLS® System in Q3 2021 for all lease transactions types across the industrial, commercial/ retail and office market segments. This result was down from the Q3 2020 result when 7,132,748 square feet of leased space was reported.

Year-over-year changes in average per square foot net lease rates, for transactions with pricing disclosed, were mixed. The average industrial lease rate for Q3 2021 was up by 18.4 per cent to $12.23 compared to $10.33 a year earlier. The average commercial/retail lease rate was $26.98 - up by 38.3 per cent year-over-year compared to $19.51 in Q3 2020. The average office lease rate was down by 2.4 per cent to $19.04 in Q3 2021.

 Industrial building sales
24-49,000.sq.ft. GTA sold at  high as $380 p.s.f.

RESIDENTIAL:

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).

GTA REALTORS® reported 9,017 home sales through TRREB's MLS® System in November 2021 – 3.3 per cent above the November 2020 result, setting a new record. In contrast, new listings were down by 13.2 per cent year-over-year, with double-digit declines for low-rise home types, and condominium apartments.

The MLS® Home Price Index composite benchmark was up by 28.3 per cent year-over-year in November 2021. The average selling price for all home types combined was $1,163,323 – up by 21.7 per cent compared to November 2020.
source trreb