Top Real Estate Agents in Toronto

September marks another all-time monthly record for real estate transactions in Toronto with 11,083 home sales, a 42% increase compared to Sept. 2019. Toronto's real estate remains as hot as ever with average sold prices continuing to climb to new highs at $960,772, far out-pacing general inflation with a 14% yoy increase. Larger homes including detached, semi-detached, and townhouses experienced the most price growth as residents looked to upsize and move to the suburbs of Toronto. While most sales remain in the $400K to $1.5M range, over 2,500 homes worth over $2M were sold in September.

New listings in September outpaced sales by over 9,000 units, but total supply remains limited as housing inventory remains lower than 2 months worth of sales. Homes in the GTA remained on market for only 22 days on average with homes in Ajax and Dufferin County at only 12 days, highlighting the intense demand for homes outside the City of Toronto area.

Other housing markets in Canada have also experienced similar growth. Ottawa's housing market has surged to new all-time-highs and Vancouver real estate has returned to year over year growth. The optimism in real estate markets may have been boosted by recent announcements by the Bank of Canada promising continued Quantitative Easing and low interest rates into 2021. In addition, Prime Minister Justin Trudeau and the Federal Government have announced the extension of the Canadian Emergency Wage Subsidy until the end of 2020. This may protect Canadians from further unemployment shocks and support Canada's economic recovery.

Toronto Housing Market Statistics for All Property Types in September 2020

About Toronto Real Estate

Ontario is home to the largest number of real estate agents in Canada: the Toronto Regional Real Estate Board (TRREB) alone represents over 56,000 agents, or more than 40% of the total agents in Canada represented by the Canadian Real Estate Association (CREA).

Toronto has been experiencing explosive growth in recent years in both its population and housing market. This population growth is not evenly distributed throughout the city of Toronto, however, with a significant portion concentrated south of Bloor in the downtown area, especially in the Waterfront communities, as well as the neighbourhoods west of the Downtown.

Total transactions for calendar year 2019 amounted to 87,825 as reported through TRREB's MLS® System by Greater Toronto Area REALTORS®, with the number of total new listings reaching 150,000 over the year or on average over 10,000 a month. Based on the latest Toronto housing report, the average selling price for residential properties hovers just over $800,000; more specifically: $1,016,776 for detached properties, $814,424 for semi-detached properties, $659,990 for townhouses, and $587,959 for condominiums or apartments. For commercial properties,around 1,000 are sold each year and just under 25 million square feet of leased commercial property space.

Regarding real estate commissions in Toronto, the average combined real estate agent commission is between 3.5% to 5% of the total selling price. Real estate commissions are split between the buyer’s and seller’s agents. Higher commissions are possible, but the standard rate is 5%.

Within the GTA, a recent survey conducted by TRREB revealed that 11% of Toronto residents indicated that they were extremely likely to purchase a home over the next year and 49% of recent home buyers were first-time home buyers. The most popular home type for intending buyers was the detached house which made up 46% of all residential property sales in 2019.

The second most popular home type was the condominium or apartment, which made up 27% of all residential property sales in 2019. Toronto has 2,326 high-rise buildings - a large number that reflects factors including population density and public transportation. In 2019, the condominium apartment market segment experienced the most dramatic year-over-year price growth with a 6.4% price increase from 2018, but prices are still more affordable compared to other property types especially for first-time home buyers.

With the plethora of choices on the market and the number of agents available, we understand that buying or selling a property can be overwhelming. Choosing the right agent is one of the most important decisions you will make, and that is why we are here to help. We have accumulated some of the best agents in Toronto and developed honest and transparent profiles to make your decision-making easy and convenient—contact any of them straight through the website and secure your own real estate journey today.

Toronto Commission Structure

Real estate commissions are the fees that home sellers pay to the seller and buyer real estate agents for their services. In Toronto, the total commission rate is set anywhere from 3.5% to 5%. Seller agents usually get 1% to 2.5% of the total commission with the buyer agents getting 2.5%. You can use our calculator provided below to calculate your real estate commission estimate for Toronto. For other cities in Ontario, please visit our Ontario real estate commission calculator page for more information.

Toronto Real Estate Tools for Buyers and Sellers