GTA Toronto Home Average Sale Price
The Greater Toronto Area (GTA) housing market experienced a marked adjustment in 2022 compared to record levels in 2021. Existing affordability issues brought about by a lack of housing supply were exacerbated by sustained interest rate hikes by the Bank of Canada.
There were 75,140 sales reported through TRREB’s MLS® System in 2022 down 38.2 per cent compared to the 2021 record of 121,639. The number of new listings amounted to 152,873 3 down 8.2 per cent compared to 166,600 new listings in 2021. Seasonally adjusted monthly data for sales and price data show a marked flattening of the sales and price trends since the late summer.
The average selling price for 2022 was $1,189,850 3 up 8.6 per cent compared to $1,095,333 in 2021. This growth was based on a strong start to the year, in terms of year-over-year price growth. The pace of growth moderated from the spring of 2022 onwards. Source: Toronto Regional Real Estate Board.
Click here for MLS / HOMES for SALE