WHAT'S HAPPENING IN THE MARKET?
According to TRREB, GTA sales for the month of September 2022 went down by 44% from last year and went down by more than 10% from August 2022.  

The average selling price for this month had an overall decrease of 4.4% compared to September 2021, but compared to last month (August 2022), the average price increased by $7,262 from $1,079,500.

However, looking at the prices on a month-to-month basis, the increase is evident in most home types, specifically Semi-Detached homes, which are up by 4.47%. Detached properties, however, are down by 0.76%. 

The decrease in the average selling price was expected and it is expected that we will continually see the prices remain lower compared to the last quarter of last year.  

However, on a month-to-month basis, we may witness a slight increase in prices starting in October if we continue to follow the trend of the 2017 market. 

We experienced a decrease of 44.3% compared to September of last year when comparing the number of total transactions. 

Year to date, we are down by 35.2% compared to January - September of 2021.

Compared to September 2021, the number of active listings went up by 47.3% and a 1.71% increase from last month (August 2022) which ended with 13,307 active listings. 

The number of active listings for all home types significantly increased with Condo Townhouses and Townhouses increasing by more than 70% compared to September of last year.  

If you are thinking about buying, selling, investing, or just have some real estate questions, you can reach me directly at 647-298-7500 or by scheduling a meeting with me.

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