Note: Numbers in parentheses are from last May
Average sold price (ASP) dropped once again. New listings also decreased to 5,988 (6,877). The number of sold properties went down 37% (-34.9%) from a year ago. Days on market further increased to 16.
Prices for the different housing categories still increased by slimmer margins year-over-year but with mixed outcomes compared to last May. See below for details:
👉 ASP for detached homes is $1,737,012. That is drastically lower than last month’s nearly $2M but 2.1% (11.5%) higher than last year.
GTA – ASP of $1,454,902 ($1,549,498), 3.5% (9.5%) YOY
👉 Semi-detached homes are at 6% (7.5%) YOY with an ASP of $1,343,378 ($1,426,273).
GTA – ASP of $1,124,723 ($1,204,893) average sale price, 6.4% (13.2%) YOY
👉 ASP for condos went up to $909,285 ($793,124), a staggering 26.7% (10.4%) higher than June 2021.
GTA – ASP $747,216 ($770,894), 9.3% (12.9%) YOY
👉 Townhomes also increased to an ASP of $1,276,167 ($1,238,845) with a 2.4% (1%) YOY.
GTA – ASP $933,056 ($977,194), 8.6% (12.7%) YOY
On the ground those numbers mean that fewer houses got listed & sold, homes stayed on the market longer, & sold for lesser compared to the first couple months this year. Whereas prices plunged across all housing categories in the GTA suburbs, condos & townhomes did well in Toronto posting an average price increase of almost $120K for condos & nearly $40K for towns compared to May. Many players await further developments before making their move especially after the most recent interest rate hike & with more to come.
Buyer & seller alike can benefit from professional help. If you have questions or need assistance, send us a message. We are always happy to discuss. 📩