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Greater Toronto Real Estate Housing Market Update

Toronto Real Estate April 2022 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.More...

Toronto Real Estate March 2022 Housing Market Update

There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million. The average selling price dipped slightly month-over-month, bucking the regular seasonal trend. New listings were also down on a year-over-year basis, but by a much lesser annual rate than sales. This suggests that while market conditions remained very tight, home buyers did not experience the same level of competition from other buyers compared to a year earlier.More...

Toronto Real Estate February 2022 Housing Market Update

February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to support double-digit price growth year-over-year. There were 9,097 sales reported through the Toronto Regional Real Estate Board's (TRREB) MLS® System in February 2022, representing a 16.8 per cent decrease in the number of sales compared to February 2021. The supply of listings for low-rise home types (detached, semi-detached and townhouses) was also down year-over-year, but not by as much as sales. In the condominium apartment segment, particularly in Toronto, new listings were up in comparison to February 2021.More...

Toronto Real Estate January 2022 Housing Market Update

The demand remained strong for homeownership from a historic perspective while at the same time, inventory remained in short supply contributing to tighter market conditions and year-over-year price growth. 5,636 sales were reported in January 2022 which is down by 18.2% when compared to January 2021. Though sales were down, the sales that did occur resulted in the second-best average for the month. Home price increased by 33.3%.More...

Toronto Real Estate December 2021 Housing Market Update

121,712 sales were reported in 2021 in the Toronto Real Estate Market – a record high! Up 7.7% from 2016 where 113,040 were recorded and up 28% when compared to 2020. New listings were by 6.2% annually. The average selling price was at an ultimate high of $1,095,475 – an increase of 17.8%.More...

Toronto Real Estate November 2021 Housing Market Update

November home sales in the Toronto Real Estate Market reached a new record for the month. New listings were down compared to last year for all market segments. There were 9,017 home sales, 3.3% above November 2020. New listings were down by 13.2% year-over-year.More...

Toronto Real Estate October 2021 Housing Market Update

Home sales in the Toronto Real Estate Market reached the second-highest level for the month but inventory did not keep up with demand. New listings were down by approximately 1/3 compared to October 2020.More...