05/05/2022
🏡📈𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐭𝐚𝐭𝐬 𝐟𝐨𝐫 𝐀𝐩𝐫𝐢𝐥 𝟐𝟎𝟐𝟐🏡📈
GTA REALTORS® reported 8,008 homes sold through TRREB’s MLS® System in April 2022
– a 41.2 per cent decrease compared to April 2021 and a 27 per cent decrease compared to March 2022.
On a year-over-year basis, the decline in sales was greater in the ‘905’ area code regions surrounding Toronto, particularly for detached houses.
The average selling price, at $1,254,436, was up by 15 per cent compared to April 2021, but down compared to the average selling price of $1,300,082 in March 2022.📉
Despite slower sales, market conditions remained tight enough to support higher selling prices compared to last year. However, in line with TRREB’s forecast, there is evidence of buyers responding to increased choice in the marketplace, with the average and benchmark prices dipping month-over-month. It is anticipated that there will be enough competition between buyers to support continued price growth relative to 2021, but the annual pace of growth will moderate in the coming months.
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