WHAT'S HAPPENING IN THE MARKET?
According to TRREB, GTA sales for the month of October 2022 went down by 49% from last year and went down by more than 1% from September 2022.  

The average selling price for this month had an overall decrease of 5.7% compared to October 2021, but compared to last month (September 2022), prices increased by $2,473 from $1,086,991.

Looking at the prices on a month-to-month basis, the increase is evident in most home types, specifically Semi-Detached homes, which are up by 3.48%. However, Condo Apartments are down by 1.96% while Condo Townhouses are slightly down by 0.12%. 

Looking at the trend, we are seeing lower prices in October and we are expecting to continually see that in November and December. 

We continue to see the similarities between the trend of this year and 2017, where numbers went down in November and December on a month-to-month basis.

We experienced a decrease of 49.3% compared to October of last year when comparing the number of total transactions.

Year to date, we are down by 36.5% compared to January - October of 2021.

Compared to October 2021, the number of active listings went up by 68.1%. However, it is a 3.77% decrease from last month (September 2022), which ended with 13,535 active listings.  

If we look at previous years, we can see that we are still at the normal level of inventory since 2021 is considered to have a significantly lower number.  

If you are thinking about buying, selling, investing, or just have some real estate questions, you can reach me directly at 647-298-7500 or by scheduling a meeting with me.

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