On this page, you can find VIP Condos Toronto's summary of the Toronto Regional Real Estate Board (TRREB)'s January 2022 real estate market watch, with info on prices & trends in the region's housing market. VIP's report will provide information such as an overall real estate market outlook, updates & news from January 2022 - as well as specific info on both condo and home prices in the GTA:
Real Estate Market Watch: Residential Transactions
- 5,636 residential home transactions took place in January 2022, down from 6,888 in January 2021 - a decrease of 18.2%.
- When seasonal adjustments are taken into account, there was a 0.7% decrease in the number of purchases from December 2021 (9,668) to January 2022 (9,602).
January 2022 Real Estate News: Average Selling Prices
- The average sale price for January 2022 was $1,242,793. This is an increase of 28.6% over January 2021, when it was $966,068.
- With seasonal adjustments, prices saw a 6.9% increase from December 2021 (from $1,206,571 to $1,290,297).
Monthly Market Update: New Listings
- There were 7,979 listings available for January 2022, which is a 15.5% decrease from January 2021 (when there were 9,438).
- The sales-to-listings ratio has decreased by 5% from January 2021, from 73% to 71%.
Click Here To Read TRREB's January 2022 Real Estate Market Watch Report for Both Homes and Condos
In order for you to use these monthly market updates to your advantage, our informative guide for buying pre-construction properties can be found under the Resources tab in the top right corner of this page. It will answer common questions such as:- How do I get my down payment?
- Can I use my RRSP for my down payment?
- How can I make the profits from my pre-construction purchases tax-free?
- What type of home or mortgage can I afford?
- Which incentives are available for first-time buyers?
- What is a PDI?
- What are the pros & cons of buying or selling an assignment before closing?
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