➕ 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 less frenzied buying experience.
That said, the initial signs of tightening can be seen with sales making up a higher share of new listings. Moreover, August marked the first month since the spring peak that the average price of a Toronto home [$1,031,979] was up both month-over-month [+1% vs. July 2022] and year-over-year [+3% vs. August 2021].
For Sellers, the average selling prices in the ‘416’ were: detached houses [-2%], semi-detached houses [-7%], townhouses [+1%] and condos [+2%] vs. August 2021.
Looking to buy or sell a home in Toronto? Average prices in August were as follows:
Data presented is for Toronto Only. Source: TRREB.