January’s TRREB Market Report
How GTA Home Sales Have Shifted Month-Over-Month and Year-Over-Year
The Toronto Regional Real Estate Board (TRREB) has released its latest market stats, which show a considerable difference in price growth in the suburbs compared to the city of Toronto. The average sale price of a detached home was up an average of 31.5% year-over-year in Storey Collective’s communities (Burlington, Halton Hills, Milton, Mississauga, and Oakville) compared to 19% in Toronto.
Here’s our monthly breakdown of the stats.
GTA Home Sales: TRREB’s January 2022 Statistics
Below, you’ll find the main conclusions from TRREB’s January 2022 Market Watch report.
- GTA realtors reported 5,636 sales in January 2022, which is down 18.2% year over year.
- While sales were down substantially compared to last year’s record result, the January 2022 result was the second-best in history for the month. This result is in line with TRREB’s forecast for a strong sales result in 2022 but off the 2021 record.
- New listings were down 15.5%.
- Because sales and new listings moved in relative lockstep, active listings at the end of January amounted to 4,140 – down by 44% to the lowest level in more than two decades.
- The MLS® Home Price Index Composite Benchmark has climbed by nearly 33% since January 2021.
- The average selling price across all property types was up by 28.6% year-over-year to $1,242,793.
Looking Forward, TRREB’s outlook for 2022 is as follows:
Total home sales reported through TRREB’s MLS® System in the GTA will reach 110,000, representing a dip from 2021, but still a strong result in comparison to previous years; and
The average selling price for all home types combined is set to climb to $1,225,000, an approximate increase of 12% when compared to last year.
We’ve also taken a look at how GTA detached home sales have changed between January 2021 and January 2022 in Storey Collective’s communities.
- Home sales were down 9%.
- New listings were down by 3%.
- Average sale price was up by 19%.
- The sales to new listings ratio (SNLR) dropped by 4% to 60%. A SNLR of 55%+ indicates a seller’s market, which means there are more buyers than properties for sale.
- Home sales were up by 33%.
- New listings were up by 107%.
- Average sale price was up by 5.2%.
- The sales to new listings ratio (SNLR) dropped by 40% to 71%, still a seller’s market.
- Home sales were down 1%.
- New listings were up by 85%.
- Average sale price was up 17%.
- The sales to new listings ratio (SNLR) dropped by 57% to 65%, still a seller’s market.
- Home sales were up by 13%.
- New listings were up by 52%.
- Average sale price was down 12% (but median was up 8%).
- The sales to new listings ratio (SNLR) fell by 23% to 67%, still a seller’s market.
- Home sales were down 1%.
- New listings were up by 66%.
- Average sale price rose by 13%.
- The sales to new listings ratio (SNLR) fell by 50% to 73%, still a seller’s market.
- Home sales fell by 7%.
- New listings were up by 53%.
- Average sale price rose by 9%.
- The sales to new listings ratio (SNLR) fell by 46% to 72%, still a seller’s market.
You can also take a look at our community pages for Toronto, Halton Hills, Oakville, Milton, Burlington, and Mississauga. You’ll find our year-over-year and month-over-month market summaries on these pages.
How Storey Collective Can Help
We examine GTA home sales each month to advise buyers and sellers on how best to secure and sell properties in the Greater Toronto Area.
If you’d like advice on how to make the most of the housing market during a particular season, get in touch with Storey Collective for a free phone consultation.