Monday Feb 14th, 2022
Strong demand continues into the new year as listings remained in short supply.
The Toronto Regional Real Estate Board reported 5,636 sales through the MLS System which is a 18.2% decrease compared to January 2021, however, it still marks the second-highest number of sales for this month.
As sales numbers dip year-over-year, it is expected that active listings are down as well. TRREB reported a staggering 44% decrease to 4,140, making it the lowest level in more than two decades!
TRREB's 2022 outlook states that home sales will dip slightly to 110,000 while the average selling price of all home types may continue to climb 12% year-over-year to $1,225,000.
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