As per TRREB Market Watch Report, in April 2022, number of home sales went down by 26.8% compared to March 2022. When we look at the year over-year change in number of sales, April 2022 was down by 41.2% from April 2021.
This slow down can be attributed to increased cost of borrowing and its impact on affordability, which caused some home buyers to take a pause to decide how they will position themselves in the market.
As per TRREB Market Watch Report, in April 2022, average sales price went down by 3.5% from March 2022. This is due to the relative increase in the number of condo sales compared to other market segments, bringing the average price down. The year-over-year increase in average sales price was 15.0%.
Please contact me with any questions on how to interpret this data or if I can provide further insight for your specific situation. As a REALTOR®, I have access to a lot more information that I can present here. I will do a deep-dive and extract the information you are looking for to make decisions.
Check out my summary chart for Toronto, Mississauga, and Oakville HERE.
Click HERE to see the full TRREB report.