Market Outlook 2021

2020 has been successful and impressive for home buyers.

2021 will be nothing less than promising as it follows some of 2020’s trends in the market. From impacts on the market due to the pandemic and an adjustment in living preferences, the new year will continue to show these aspects as we embark on 2021. Here is what to expect come January.

With the increase in unemployment, many people have decided now is the perfect time to relocate to a different city, province, and lifestyle. Some have moved from their current living situation back home while others have decided to change lifestyles completely. Most Canadians, approximately 53%, are confident that housing markets will remain steady throughout 2021 and 52% of Canadians believe that real estate will be one of the best investments you can make in the new year. The only problem, and it is not a bad issue, is the ongoing housing supply shortage will most likely continue. As a result, this will cause a projected increase in house pricing by 4-6%.


The pandemic has caused a shift in living preferences.

These adjustments include lifestyle changes such as people opting out of city living for less dense neighbourhoods and towns. Some are seeking larger homes with bigger back yards, more office space, and quieter surroundings. Nearly 40% of people realized they needed renovations on their home, and 29% discovered they needed more space to compliment job adjustments and pandemic precautions put in place. In regards to where these people chose to live, urban, suburban or rural is the preference. Another trend includes populations under the ages of 35 as they realize they need more space.

In Ontario market activity across the province is estimated to remain very steady in 2021, with the potential for average sale price increases of between 7 and 12 per cent in regions like Hamilton-Burlington (seven per cent) and Niagara (12 per cent). This is being attributed to high demand and low supply, coupled with shifting home-buying trends toward local liveability factors such as more space, larger yards and closer proximity to amenities like parks.

Move-up and move-over buyers are also impacting luxury segments in the province. Cities such as Ottawa and Hamilton-Burlington have seen a massive spike in demand for luxury homes since the start of the pandemic. This is expected to continue in 2021.

The urban-to-suburban buyer interest in Ontario has impacted Toronto’s downtown core, specifically for condos, which is currently a buyer’s market. Supply levels throughout Toronto are continuing to drop and are not expected to improve in 2021, which will impact average home prices. Immigrants are also expected to drive some market activity next year, which alludes to those coming to Toronto for education purposes, along with the expected influx of immigration from outside the country. Similar to Ottawa and Regina, Toronto’s luxury market remains unimpacted by COVID-19 and is driven by move-up buyers.


With the pandemic already creating a positive impact on the Ontario market, the real estate predictions will remain the same as in 2020.

Additional discoveries for the 2021 housing market include the demand for technology. 36% more home buyers/sellers prefer to work with a realtor who utilizes technology for such matters as open houses, virtual tours and more.

Overall, 2021 looks promising for the Hamilton-Burlington area and surrounding areas such as Oakville. For more information on buying or selling your home, reach out to one of our Team Logue real estate agents, and we can help you both virtually and in person.

We are happy to help you map a plan and put you in touch with financing options. Feel free to schedule a quick call or an appointment in our calendar Please contact us anytime for market stats on your specific neighbourhood.