Distinctive Real Estate Advisors Inc., Brokerage is pleased to present a recap of the latest market forecast release and April highlights from the Toronto Regional Real Estate Board (TRREB).
Some highlights from this April report include:
- 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
- Home buyers are determining how they will reposition themselves in the marketplace given the higher housing rate environment and impact on affordability.
GTA Market Statistics for April:
- GTA REALTOR reported 8,008 homes sold through TRREB’s MLS? System in April 2022.
- This is a 41.2 per cent decrease in comparison to April 2021 and a 27 per cent 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 MLS Home Price Index Composite Benchmark was up by 30.6 per cent year-over-year in April 2022. The benchmark level in April was down in comparison to the March level.
- The average selling price, at $1,254,436, was up by 15 per cent compared to April 2021.
- This is a decrease in comparison to the average selling price of $1,300,082 in March 2022.
We’d welcome an opportunity to discuss the April Toronto Regional Real Estate forecast and Market Watch presentation.If you have any questions about our services, please contact our team.