- There were 3,117 sales reported through Toronto Real Regional Real Estate Board’s (“TRREB”) MLS® System in December 2022 –down 48.2 per cent compared to December 2021.
- New listings totalled 4,074 – down 21.3 per cent compared to 5,177 in December 2021.
- The MLS® Home Price Index Composite benchmark was down 8.9 per cent on a year-over-year basis in December 2022.
- The December average selling price, at $1,051,216, was down by 9.2 per cent compared to the December 2021 average of $1,157,837.
The “All Leasing Activity (Sq. Ft.)” chart summarizes total industrial, commercial/retail and office square feet leased through Toronto MLS® regardless of pricing terms.
The “All Sales Activity” chart summarizes total industrial and commercial/retail and office sales through Toronto MLS® regardless of pricing terms.
GTA Market Snapshot
- The Greater Toronto Area (GTA) housing market experienced a markedadjustment in 2022 compared to record levels in 2021. Existing affordability issues brought about by a lack of housing supply were exacerbated by sustained interest rate hikes by the Bank of Canada.
- There were 75,140 sales reported through TRREB’s MLS® System in 2022 down 38.2 per cent compared to the 2021 record of 121,639.
- The number of new listings amounted to 152,873 –down 8.2 per cent compared to 166,600 new listings in 2021. Seasonally adjusted monthly data for sales and price data show a marked flattening of the sales and price trends since the late summer.
CONDOMINIUM SALES STATS
CONDOMINIUM RENTAL STATS
In conjunction with the Toronto Regional Real Estate Board (TRREB) redistricting project, historical data may be subject to revision moving forward. This could temporarily impact per cent change comparisons to data from previous years.
Distinctive Real Estate Advisors Inc., Brokerage is pleased to present a recap of the latest market forecast release and September highlights from the Toronto Regional Real Estate Board (TRREB).
We’d welcome an opportunity to discuss the December Toronto Regional Real Estate Market Watch presentation. If you have any questions about our services, please contact our team.