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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’ [january 2023]

➕january 2023➕   ➕‘the numbers’ for the first month of 2023 are in, and as expected, the data reflects a continuation of late 2022 trends.  The number of sales in January were similar to December, but are down significantly [-51%] when compared to the highly...

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2022 year in review [+ looking forward to 2023]

➕What began as an extension of 2021’s high-flying real estate buying and selling frenzy soon enough tumbled and fell to a near standstill with the Bank of Canada’s hiking interest rates.  As rates rose, resale home sales fell and property sat on the sidelines far...

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‘the numbers’ [december 2022]

➕december 2022➕   ➕‘the numbers’ for the last month of 2022 are are in!   December marked a historically quiet month in both sales and new listings - driven largely by seasonality and the continued aggressive Bank of Canada rate hikes. However there were a couple...

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‘the numbers’ [november 2022]

➕november 2022➕   ➕‘the numbers’ for November are in!  The market continues to be influenced by higher borrowing costs that commenced in the spring.  Total Sales have flattened month over month and remain down -50% when compared to November 2021.   However with...

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‘the numbers’ [october 2022]

➕october 2022➕   ➕‘the numbers’ for October are in!  The Toronto housing market continues to adjust to increasing borrowing costs.  Total Sales for Toronto were down -50%, new listings also declined by -20%, and active listings increased +26% when compared to...

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‘the numbers’ [september 2022]

➕september 2022➕   ➕‘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...

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