On this page, you can find VIP Condos Toronto's summary of the Toronto Regional Real Estate Board (TRREB)'s June 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 June 2022 - as well as specific info on both condo and home prices in the GTA:
Real Estate Market Watch: Residential Transactions
- 6,474 residential home transactions took place in June 2022, down from 11,053 in June 2021 - a decrease of 41.4%.
- When seasonal adjustments are taken into account, there was a 4.7% decrease in the number of purchases from May 2022 (6,204) to June 2022 (5,910).
June 2022 Real Estate News: Average Selling Prices
- The average sale price for June 2022 was $1,146,245. This is an increase of 5.3% over June 2021, when it was $1,088,993.
- The average price for homes in the Greater Toronto Area went down by 3% compared to the previous month (from $1,175,111 to $1,139,957).
Monthly Market Update: New Listings
- There were 16,347 listings available for June 2022, which is a 1% increase from June 2021 (when there were 16,193).
- The sales-to-listings ratio has decreased by 28% from June 2021, from 61% to 40%.
Real Estate Market Watch for June 2022: Days On The Market
- The average property spent 24 days on the market, compared to 17 last year - an increase of 41.2%.
- Listings spent an average of 15 days on the market, which is a 15.4% increase from this month last year (when they spent an average of 13).
Click Here To Read TRREB's June 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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