2022년 8월 17일
Real Estate Trends for July 2022 for the GTA & Toronto Market
GTA Market Analysis for July 2022
Today, we will would like to examine the Real Estate trends of July 2022!
Current Prime and Mortgage Rate Averages for July 2022
The Real Estate Market in both the GTA & Toronto in July is showing continuing signs of a balanced housing market with significant decreases in sales activity
Detached Prices prices have shown price decreases in comparison to 2021 July Prices with Toronto prices decreasing by 7.3%
Toronto East Region (E01-E11) is an outlier with a positive Sales Price/Listing Price Ratio.
Toronto East Region which includes Scarborough, Old Toronto , and East York is the only Area with Average Sold Price to Listing Price Ratio for Detached Homes in Toronto highlighting detached homes being bought over asking price. Toronto East Region also has the lowest Listing Days on Market (Average 13 Days) further pointing out high demand within this area.
The Year over Year Summary of the Toronto & GTA housing Markets point out some interesting information
There is currently high amounts of inventory that still remain on the market demonstrated by the number of active listings.
The 19 Day Average Listing Days on Market (LDOM) is an indicator that houses are increasingly taking longer to sell. Last month's LDOM was 15 Days. This can point that buyers are taking a slower approach to buying properties because of the increased supply.
July 2021 --> July 2022 : Average Housing Prices decreased by 1.2%
This minor decrease can primarily attributed to the total decreases of Detached housing prices from both the 416 & 905 Region
(Includes Detached,Semi-Detached, TH, and Condos)
Sales Activity numbers from 2021 July and July 2022 show a 47.4% Decrease in Sales. This could lead the trend to increasing supply potentially pushing down prices.