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‘the numbers’ [april 2022]
by sutton old mill

➕april 2022➕

➕‘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

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‘the numbers’ [august 2022]

➕august 2022➕   ➕ the numbers’ for August are in.  Toronto market conditions in August continued as a ‘balanced market’,.  August 2022 sales volume was down -37%, along with a -10% decline in new listings, and Buyers continue to benefit from more choice and a...

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‘the numbers’ [july 2022]

➕july 2022➕   ➕‘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 remained flat...

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‘the numbers’ [june 2022]

➕june 2022➕   ➕‘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...

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‘the numbers’ [may 2022]

➕may 2022➕   ➕‘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...

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‘the numbers’ [march 2022]

➕march 2022➕ ➕‘the numbers’ for March are in. Market conditions remain tight across all home segments however with more Sellers returning to the market vs. the preceding nine months, some Buyers may not have experienced the same level of competition on offer night....

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‘the numbers’ [february 2022]

➕february 2022➕   ➕‘the numbers’ for February are in. A small year-over-year increase in new listings [+4% vs. Feb 2021] was not enough to lessen the competition between Toronto Buyers in February. Double digit year-over-year price growth was experienced across...

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