Market Watch - January 2022

By: gtacasa.ca

Market Watch - January 2022

Tags: MARKET WATCH, TREB, TORONTO REAL ESTATE, MARKET STATS, HOUSE PRICES

Demand for ownership housing remained very strong from a historic perspective in January 2022. At the same time, listings remained in short supply, resulting in tight market conditions and very strong year-over-year price growth.

There were 5,636 sales reported through TRREB in January 2022 – down by 18.2% compared to 6,888 sales in January 2021. While sales were down 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%) as sales. Because sales and new listings moved in relative lock step, active listings at the end of January amounted to 4,140 – down by 44% to the lowest level in more than two decades.

The average selling price was up by 28.6% year-over-year to $1,242,793 due to tight market conditions.

Are you looking to sell your home soon? Do you want to know what this means for you, explained to you in detail by a seasoned real estate agent?

Nick will do a free, no obligations, comparative market analysis on your home to give you a good idea of your home worth - get in touch at (416) 271-1305