➕‘the numbers’ for September are in.  As the housing market continues to adjust to higher borrowing costs, the the sales volume for Toronto in August 2022  was down -49%, and new listings declined by -24%.  The market conditions for month of September moved Toronto into a ‘Buyer’s Market’, however a continuation of tightening market can be seen with an average increase of +5% in overall prices - driven by the gains in the condo and townhouse segments, as well as certain neighbourhoods within Toronto.


For Sellers, the average selling prices in the ‘416’ were:  detached houses [-11%], semi-detached houses [-7%], townhouses [+1%] and condos [+3%] vs. September 2021.


Looking to buy or sell a home in Toronto? Average prices in September were as follows:


➕Detached $1,585,589
➕Semi-detached $1,210,715
➕Townhouse $943,922
➕Condo $769,058
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Data presented is for Toronto Only.   Source: TRREB.

➕‘the numbers’ for July are in.  Market conditions in Toronto moved into a balanced market in July 2022. Buyers continue to benefit from more choice and the annual rate of price growth has moderated.

Overall, the average selling price in Toronto remained flat when compared to July 2021 to $1,019,100. Less expensive home types, including condo apartments, townhomes, and semi-detached properties experienced positive price growth as more buyers turned to these segments to help mitigate the impact of higher borrowing costs. The average selling price for detached homes declined -7% vs. July 2021

July 2022 sales volume was down -44%, along with a -14% decline in new listings.  With significant increases to lending rates in a short period, there has been a shift in consumer sentiment.  However, long term demand for housing will remain strong and once prices stabilize it is expected to bring more activity to the market.

For Sellers, the average selling prices in the ‘416’ were:  detached houses [-7%], semi-detached houses [+5%], townhouses [+8%] and condos [+4%] vs. July 2021.

Looking to buy or sell a home in Toronto? Average prices in July were as follows:

➕Detached $1,515,763
➕Semi-detached $1,268,630
➕Townhouse $963,545
➕Condo $744,092

Data presented is for Toronto Only.   Source: TRREB.

➕‘the numbers’ for June are in.  Once again, Toronto real estate market conditions continued to moderate in response to higher borrowing costs with some home buyers putting their decision on hold to see where home prices end up and others challenged by affordability.  For active buyers, the more balanced conditions have provided more negotiating power.

June 2022 sales volume trended down on a monthly and annual basis, and the current market conditions are expected to remain throughout the summer.   However, long term demand for housing will remain strong and once prices stabilize, it is expected to bring more buyers back to the market.

For Sellers, market conditions supported moderate year over year gains in average selling prices in the ‘416’ including detached houses [+2%], semi-detached houses [+6%], townhouses [+9%] and condos [+7%] vs. 2021.

Looking to buy or sell a home in Toronto? Average prices in June were as follows:

➕Detached $1,737,012
➕Semi-detached $1,343,378
➕Townhouse $1,027,050
➕Condo $771,267

Data presented is for Toronto Only.   Source: TRREB.

➕‘the numbers’ for May are in.  Toronto real estate market conditions continued to evolve in response to higher borrowing costs and other market influences. Similar to April results, May 2022 sales were down on a monthly and annual basis.


While May technically remained a ‘sellers’ market when looking at the entire month, the more balanced market conditions have provided active buyers with more negotiating power.  Moreover, month over month trends indicate an official ‘balanced’ market is on the horizon, if not already arrived.


The current rate tightening cycle has changed market dynamics, with many potential home buyers putting their purchase on hold for now.  As home buyers adjust to higher borrowing costs, demand for housing will be supported by low unemployment, rising incomes and record immigration.


For Sellers, market conditions remained tight enough to support year over year gains in average selling prices in the ‘416’ including detached houses [+12%], semi-detached houses [+8%], townhouses [+11%] and condos [+11%] vs. 2021.


Looking to buy or sell a home in Toronto? Average prices in May were as follows:


➕Detached $1,914,890
➕Semi-detached $1,426,273
➕Townhouse $1,045,874
➕Condo $793,124
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Data presented is for Toronto Only.   Source: TRREB.

➕‘the numbers’ for April are in. The Bank of Canada’s goal of slowing consumer spending is reflected in this month’s Toronto Real Estate market statistics with transactions down vs. last month [-6%], and last year [-36%]. Consistent with historical rate tightening cycles, the recent sharp 0.5% rate hike has prompted some buyers to delay their purchase. However, despite the lower volume, market conditions remained tight enough that the average selling prices in April grew by double digits vs. last year, and it is expected that the supply/demand dynamic will remain competitive enough to support price growth vs. 2021, but the rate of increase will moderate in the coming months.
Specifically, properties in the ‘416’ area code realized gains in average selling prices for detached houses [+15%], semi-detached houses [+14%], townhouses [+15%] and condos [+13%] vs. 2021.
Looking to buy or sell a home in Toronto? Average prices in April were as follows:
➕Detached $1,947,975
➕Semi-detached $1,494,640
➕Townhouse $1,086,986
➕Condo $820,835
Data presented is for Toronto Only.   Source: TRREB.