Demand for housing remained very strong from a historic perspective in January 2022, while listings remained in short supply. This resulted in tight market conditions and very strong year-over-year price growth.

January 2022 had 5,636 sales reported through the TREBB MLS System, which was down by 18.2 percent compared to January 2021. Though sales were down substantially when compared to last year, the January 2022 result was the second best in history for the month.

New listings were down to the lowest level in more than two decades. There were just 4,140 active listings in January, a decrease of 44% from the year earlier.

The continuation of the tight market conditions in Toronto resulted in a 33.3 percent…

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January’s sales were very strong for a traditionally slower month, as OREB Members sold 936 residential properties this past month, a decrease of 3 percent compared with 963 in January 2021. There were 661 sales of residential properties, which is down just 2 percent from 2021. Sale prices have continued to steadily increase with the lack of inventory.

The average sale price for condominiums was $447,943 for an 18 Percent increase from last year. The average sale price was up 14 percent from last year for residential property types at $771,739.

If you are thinking about selling your home, there has never been a better time. Contact me today and let’s talk.

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