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April 2022 - Toronto Real Estate Housing Market Update

April 2022 - Toronto Real Estate Housing Market Update

The GTA housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. There were 8,008 homes sold in April 2022 – a 41.2% decrease compared to April 2021 and a 27% decrease compared to March 2022.

On a year-over-year basis, the decline in sales was greater in the ‘905’ area code regions surrounding Toronto, particularly for detached houses. The benchmark price was up by 30.6% year-over-year in April 2022 but was down in comparison to the March level. The average selling price, at $1,254,436, was up by 15% compared to April 2021, but down compared to the average selling price of $1,300,082 in March 2022.

Contact me with questions as to how this impacts your buying or selling decisions!

To A Good Life!

Sam Chaim⁠ - Your Point Man in Real Estate
Making A Difference For You!⁠
Re/Max Realtron⁠
416-543-7252⁠
sam@samchaim.com⁠

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