416.234.2424

[mon-fri] 9-8 [sat] 9-4 [sun] 10-2

oldmill@sutton.com

drop us a line anytime!

where you’ll find us!

74 Jutland Road Unit #40

Toronto, ON M8Z 0G7

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

➕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 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.

more of what you love

‘the numbers’ [january 2024]

➕january 2024➕ The numbers for the first month of 2024 are in! The initial market indicators suggest an early thaw for the Toronto Real Estate Market in 2024. It’s been a positive start to the new year. Home sales across all property types were up by +33% compared to...

read more

2023 year in review [+ looking forward to 2024]

From a bird's-eye view, surprisingly, the Toronto real estate market in 2023 closely resembled that of 2022. It was a year marked by discussions on interest rates, affordability, supply, volatility, and expectations. Furthermore, similar to 2022, we witnessed a robust...

read more

‘the numbers’ [december 2023]

➕december 2023➕ December was generally a quiet month for Toronto real estate, driven largely by seasonality and the continued high cost of borrowing.  However, there were a couple of noteworthy insights in the monthly data. Firstly, the townhouse segment experienced...

read more

‘the numbers’ [november 2023]

➕november 2023➕ Uncertain economic conditions and high borrowing costs continue to be barriers for many potential home buyers in Toronto, resulting in a decline in sales by 11% compared to November 2022. On a somewhat positive note for buyers, home prices have...

read more

‘the numbers’ [october 2023]

➕october 2023➕ Lack of affordability and uncertainty of interest rate decisions remained barriers for many would-be home buyers in Toronto.  As a result, sales edged slightly lower, vs. October 2022.  Yet, robust population growth and a resilient regional economy...

read more

‘the numbers’ [september 2023]

➕september 2023➕ Despite persistent high borrowing costs, elevated inflation, a deceleration in economic growth, and uncertainty surrounding the decision-making process of the Bank of Canada, the Toronto housing market experienced a notable shift. In the face of a...

read more