If last year’s Greater Toronto Area housing market could be summed up in one trend, it would be runaway price growth — both within the City of Toronto, and surrounding 905-area markets.

According to the Toronto Regional Real Estate Board (TRREB), GTA markets saw an all-time high average selling price of $1,095,475 in 2021 — an increase of 17.8% from 2020, and the first time the regional average breached the $1-million mark.

Lack of affordability is most acute in the detached sector — the average house now fetches $1,438,926 (+25.1% year-over-year) — which has in turn driven interest back to the condo segment, particularly among first-time buyers.

However, GTA numbers as a whole only tell part of the story; demand and sellers’ market conditions have skyrocketed in some neighbourhoods over others, leading to appreciation well above that of the aggregate picture.

These increases at a neighbourhood level have been compiled by Move Smartly, the data and analysis arm of Realosophy Realty, identifying the top 10 GTA neighbourhoods based on median price appreciation in 2021 compared to 2020, for both houses and condos.

House Prices Shot Up Most in 905 Markets

According to the ranking, the top three appreciating areas for houses all lie beyond City of Toronto borders, and can be found in the York and Halton Regions. Topping the list is the Milton neighbourhood of Campbellville, which experienced a whopping 66% year-over-year increase, at a median price of $2,430,500.

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