June Market Update

Wednesday Jul 06th, 2022

Share

TRREB's June Market Watch Released 👀

 

Higher borrowing costs continued to impact home sales in June 2022. The average selling price was 5.3% above the June 2021 level at $1,146,254, but continued to trend lower every month.

 

While the number of transactions was down year-over-year, the number of new listings changed little over the same period. This has provided for greater balance in the market, resulting in a more moderate annual pace of price growth.

 

Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long term, given continued population growth, strong immigration inflows, returning post-secondary students, lack of housing supply and other factors.

 

🔍 Market Stats Quick Overview:

📎 Total Sales: 6,474 ⬇41.4%

📎 Avg Sold Price: $1,146,254 ⬆5.3%

📎 Avg DOM: 15 days ⬆15.4%

📎 New Listing: 16,347 ⬆1.0%

 

Source: @thereal_trreb

 

#torontoregionalrealestateboard #trreb #gtarealestate #gtamarketreport #junemarketwatch #homelifelandmark #RealEstateNews #Condos #Toronto #Peel #buyers #sellers #investment #home #housing #mortgage #York #GTA 

Post a comment