The following are the latest statistics as they relate to both the City of Toronto and the Greater Toronto Area (GTA) in respect of sales for the month of MAY 2022.
As you can see, the downward trend in the number of sales for the City of Toronto has continued its march through the marketplace with an astounding phenomenon occurring. Sales have dropped dramatically (both month-over-month and year-over-year) while prices mostly continued to climb at least as compared to last year.
So, for the City of Toronto, these were the statistics for May 2022:
- Detached solds = 814 a 34.8% decline y-o-y and 6.2% decline m-o-m
- Average Price = $1,914,890 increase 11.5% y-o-y and decrease 1.7% m-o-m
- Semi-Detached solds = 316 a 29.1% decline y-o-y and 1.6% increase m-o-m
- Average Price = $1,426,273 increase 7.5% y-o-y and decrease 4.57% m-o-m