02/10/2022
GTA REALTORS® RELEASE JANUARY STATS
GTA Real Estate Market Update by Toronto Real Estate Board
TORONTO, ONTARIO, February 3, 2022 – 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 the TRREB MLS® System in January 2022 – down by 18.2% compared to 6,888 sales in January 2021. While sales were down substantially compared last year’s record result, the January 2022 result was the second best in history for the month. This result is in line with TRREB’s forecast for a strong sales result in 2022, but off the 2021 record.
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 continuation of tight market conditions resulted in a 33.3% annual increase in the MLS® Home Price Index Composite benchmark. Similarly, the average selling price was up by 28.6% year-over-year to $1,242,793.
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, representing a dip from 2021, but still a strong result in comparison to previous years; and
The average selling price for all home types combined is set to climb to $1,225,000, an approximate increase of 12% when compared to last year.
GTA
MARKET REPORT
JAN 2022
$1,259,900
Benchmark Price
.
33.29%
Year Over Year
Avg Sold Price
$1,242,793
Sold Properties
5,636
Avg Days on Market
13days
DETACHED
$1,587,300
Benchmark Price
72.27%
3 years changes
SEMI DETACHED
$1,238,000
Benchmark Price
72.83%
3 years changes
TOWNHOUSE
$879,100
Benchmark Price
63.56%
3 years changes
CONDO
$728,000
Benchmark Price
43.48%
3 years changes
Source: Toronto Real Estate Board | MLS® Home Price Index (HPI).
What's Happening This Month
Here are a few places that you will be able to visit virtually this month:
