Toronto Real Estate Market Report

Tuesday, September 6, 2022 6:05:34 PM UTC
INFOGRAPHICS: August 2022 TRREB Toronto Market Reports

GTA REALTORS® Release August Stats

There were 5,627 home sales reported through the Toronto Regional Real Estate Boards (TRREB) MLS® System in August 2022, representing a year-over-year dip of 34.2 per cent 3 a lesser annual rate of decline compared to the previous four months. The August sales result also represented a month-over-month increase compared to July.

Sales represented a higher share of new listings compared to the previous three months. If this trend continues, it could indicate some support for selling prices in the months ahead. On a year-over-year basis, the MLS® Home Price Index (HPI) was up by 8.9 per cent and the average selling price for all home types combined was up by 0.9 per cent to $1,079,500. The average selling price was also up slightly month-over-month, while the...

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INFOGRAPHICS: July 2022 TRREB Toronto Market Reports

GTA Home Sales and Listings Trend Downwards in July

There were 4,912 home sales reported through the Toronto Regional Real Estate Board (TRREB) MLS® System in July 2022 – down by 47 per cent compared to July 2021. Following the regular seasonal trend, sales were also down compared to June.

New listings also declined on a year-over-year basis in July, albeit down by a more moderate four per cent. The expectation is that the trend for new listings will continue to follow the trend for sales, as we move through the second half of 2022 and into 2023.

Market conditions remained much more balanced in July 2022 compared to a year earlier. As buyers
continued to benefit from more choice, the annual rate of price growth has moderated. The MLS®
Home Price Index (HPI) Composite Benchmark was up by 12.9...

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INFOGRAPHICS: June 2022 TRREB Toronto Market Reports

GTA REALTORS® Release June Stats

Higher borrowing costs continued to impact home sales in June 2022. Sales totalled 6,474 – down by 41 per cent compared to last year’s strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market.

The average selling price, at $1,146,254, remained 5.3 per cent above the June 2021 level, but continued to trend lower on a monthly basis. The MLS® Home Price Index Composite benchmark was up by 17.9 per cent year-over-year, but also experienced a month-over-month dip compared to May. Annual price growth was driven more so by less expensive market segments, including townhouses and condominium apartments.

Read the full report on TRREB website!

 


 

The following data is a...

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INFOGRAPHICS: May 2022 TRREB Toronto Market Reports

Market Continues to Balance out as Borrowing Costs Trend Higher

Greater Toronto Area (GTA) housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May 2022 sales were down on a monthly and annual basis. Conversely, active listings at the end of May were up on a monthover-month and year-over-year basis. More balanced market conditions have provided buyers with more negotiating power. As a result, while benchmark and average home prices were up substantially compared to last year, selling prices trended lower on a month-over-month basis.

Read the full report on TRREB website!

 


 

The following data is a comparison between May 2022 and May 2021 numbers, and is current as of June 2022. For last month’s numbers, check out our previous...

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INFOGRAPHICS: April 2022 TRREB Toronto Market Reports

GTA REALTORS® RELEASE APRIL STATS

The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given the higher rate environment and related impact on affordability.

“Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase. Moving forward, it will be interesting to see the balance the Bank...

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INFOGRAPHICS: March 2022 TRREB Toronto Market Reports

GTA REALTORS® Release March Stats

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.

“Now is the time for governments to govern and focus on measures that are proven to increase housing supply. The GTA population will experience rapid growth in the coming years as our region’s economic strength and diversity continues to attract people from around the world. In order to sustain this growth, we need adequate housing supply and choice. This needs to be the focus...

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INFOGRAPHICS: February 2022 TRREB Toronto Market Reports

Demand for ownership housing remains strong throughout the GTA

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.

Greater Toronto Area (GTA) REALTORS® reported 9,097 sales 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 ye...

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INFOGRAPHICS: January 2022 TRREB Toronto Market Reports

Demand for ownership housing remained very strong from a historic perspective in January 2022

Demand for ownership housing remained very strong from a historic perspective in January 2022. At the same time, listings remained in short supply, resulting in tight market conditions and very strong year-over-year price growth.

There were 5,636 sales reported through the TRREB MLS® System in January 2022 – down by 18.2 per cent compared to 6,888 sales in January 2021. While sales were down substantially compared last year’s record result, the January 2022 result was the second best in history for the month. This result is in line with TRREB’s forecast for a strong sales result in 2022, but off the 2021 record.

New listings were down by a similar annual rate (-15.5 per cent) as sales. Because sales...

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INFOGRAPHICS: December 2021 TRREB Toronto Market Reports

GTA Home Sales Hit New November Record While Listings Drop

Home sales reached a new record for the month of November, and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA).

GTA REALTORS® reported 9,017 home sales through TRREB’s MLS® System in November 2021 – 3.3 per cent above the November 2020 result, setting a new record. In contrast, new listings were down by 13.2 per cent year-over-year, with double-digit declines for low-rise home types and condominium apartments.

Read the full report on TRREB website!

 


 

The following data is a comparison between December 2020 and December 2021 numbers,...

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INFOGRAPHICS: November 2021 TRREB Toronto Market Reports

GTA Home Sales Hit New November Record While Listings Drop

Home sales reached a new record for the month of November, and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA).

GTA REALTORS® reported 9,017 home sales through TRREB’s MLS® System in November 2021 – 3.3 per cent above the November 2020 result, setting a new record. In contrast, new listings were down by 13.2 per cent year-over-year, with double-digit declines for low-rise home types and condominium apartments.

Read the full report on TRREB website!

 


 

The following data is a comparison between November 2020 and November 2021 numbers,...

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