AS published monthly by the Toronto Regional Real Estate Board
January 2022 witnessed the demand for ownership very strong from a historic perspective. GTA home price stats are impressive to many forecasters. At the same time, inventory and active listings remained in short supply. This resulted in tight market conditions and very strong year-over-year price growth.
January 2022 witnessed 5,636 sales through the TRREB MLS® System. This was down by 18.2 percent compared to 6,888 sales in January 2021.
While sales were down substantially. Compared to last year’s record result, the January 2022 result was the second-best in history for the month.
New listings were down by a similar annual rate (-15.5 percent) as sales. Sales and new listings moved in relative lockstep. Active listings at the end of January amounted to 4,140. Down by 44 percent to the lowest level in more than two decades.
The GTA home price stats reflect a continuation of tight market conditions resulting in a 33.3 percent annual increase. Similarly, the average selling price was up by 28.6 percent year-over-year to $1,242,793.
If you would like a copy of your Community Home Price Index, please reach out and we will email you a pdf copy for your review.
Looking Forward, TRREB’s outlook for 2022 is as follows.
Total home sales reported through TRREB’s MLS® System in the GTA will reach 110,000. This represents a dip from 2021. But still a strong result in comparison to previous years. The average selling price for all home types combined will climb to $1,225,000. An approximate increase of 12 percent when compared to last year.
Accurate report based on current up-to-date information.