- There were 4,912 home sales reported through the Toronto Regional Real Estate Board (TRREB) MLS® System in July 2022 – down by 47% 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 4%.
- 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.
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
- 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% year-over-year.
- The average selling price was up by 1.2% compared to July 2021 to $1,074,754.
- Less expensive home types, including condo apartments, experienced stronger rates of price growth as more buyers turned to these segments to help mitigate the impact of higher borrowing costs.
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 July highlights from the Toronto Regional Real Estate Board (TRREB).
We’d welcome an opportunity to discuss the July Toronto Regional Real Estate Market Watch presentation. If you have any questions about our services, please contact our team.