market report
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Condo Sales in the GTA Were down While New Listings Remained Steady
The Greater Toronto Area (GTA) condominium apartment market followed a similar trend to the housing market as a whole in Q2 2022. With 5,687 sales, the Q2 result represented a decline of 35.2 per cent compared to Q2 2021. Over the same period, new listings remained flat at 14,316. With sales accounting for a lower…
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Average Rent Reaches New High as Competition Heats up in the GTA
Condominium apartment rental market conditions have tightened dramatically over the past year. Average rents for one-bedroom and two-bedroom apartments are now both at record levels, surpassing the previous peak in Q3 2019.
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TRREB Forecasts Current Market Conditions to Remain over Summer
Higher borrowing costs continued to impact home sales in June 2022. Sales totalled 6,474 – down by 41 per cent compared to last year’s strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market.
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Market Continues to Balance out as Borrowing Costs Trend Higher
Greater Toronto Area (GTA) housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May 2022 sales were down on a monthly and annual basis. Conversely, active listings at the end of May were up on a monthover-month and year-over-year basis. More balanced market conditions have provided buyers with…
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Market Adjusts to Higher Borrowing Costs in April
The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given…
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The Average Price of Condos Increased While New Condo Listings Remained Flat in GTA
Condominium apartment sales remained strong historically in Q1 2022. Seller’s market conditions remained in place with the average selling price increasing by more than 20 per cent year-over-year.
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The Cost to Rent Rises While Rental Listings Fall in GTA
Tight rental market conditions continued in the first quarter of 2022, pushing average rents closer to the pre-pandemic peak. Rental transactions were down year-overyear in the first quarter, largely due to the fact that rental listings dropped by an even greater annual rate. The result was increased competition between renters and double-digit rent increases.
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Average GTA Home Price Hovers at $1.3m
There were almost 11,000 Greater Toronto Area (GTA) home sales reported in March 2022, capping off the third-best March and second-best first quarter on record. Tight market conditions continued to support a double-digit annual pace of price growth, with an average selling price of $1.3 million. The average selling price dipped slightly month-over-month, bucking the…
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Second Highest February Sales on Record
February home sales were down compared to the all-time record in 2021, but represented the second-best result for the month of February in history. New listings dropped, but by a marginally lesser annual rate than sales, pointing to a modest move to a slightly more balanced market. Competition between buyers, however, remained tight enough to…
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2022 Market Outlook: Supply is Critical
Demand in the GTA isn’t going away. Population is set to reach new levels and increasing housing supply remains a key solution to address affordability issues. TRREB’s highly-awaited 2022 Market Outlook & 2021 Year in Review is in its seventh year of sharing drivers and trends in the real estate market. This year’s report, The Post-Pandemic Future: Communities, Housing…
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TRREB Unveils Key Market Drivers For 2022 And January Numbers
The market outlook for 2022 is calling for strong home sales in the Greater Toronto Area (GTA) with the average selling price expected to hit a new record. The latest polling conducted for the Toronto Regional Real Estate Board (TRREB) by Ipsos shows detached homes are on the top of the list for buyers while…
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Condo Sales Reached An All – Time High
A record fourth quarter capped off a record year for condominium apartment sales in 2021. While condo listings were high from a historic perspective, it was not a record year on the supply side of the market. In fact, condo buyers experienced some of the tightest market conditions in 20 years. Strong competition between buyers…