#TorontoRealEstate #TorontoHousingMarket #TorontoRealEstateMarket

Toronto’s real estate market saw substantial prices drops in June, with prices down over $100,000 since April. With buyers sitting out and inventory increasing, the housing market saw sales slump by 41% since this time last year.

With prices dropping Toronto realtors are reporting a trend where home buyers are waiting out the market slump, hoping for further price reversals before getting into the market. Further, many buyers are still working mortgage preapprovals from a few months ago, before rates rose
substantially.

April Toronto Benchmark Home Price – $1,354,000
May Toronto Benchmark Home Price – $1,261,800
June Toronto Benchmark Home Price – $1,204,900

April Toronto Average Home Price – $1,254,436
May Toronto Average Home Price – $1,212,806
June Toronto Average Home Price – $1,146,254

April Toronto Median Home Price – $1,098,000
May Toronto Median Home Price – $1,050,000
June Toronto Median Home Price – $985,000

April SP/LP – 107%
May SP/LP – 103%
June SP/LP – 10%

April Months of Inventory – 0.9
May Months of Inventory – 1.0
June Months of Inventory – 1.1

LINKS:

Market Watch June 2022:

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Market Watch May 2022:

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Market Watch April 2022:

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GTA home prices dropped for fourth consecutive month in June:

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"The frenzy is over" for the Toronto-area housing market: RBC:

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In Toronto real estate, buyers gain the upper hand:

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Canada inflation up near 40-year high; calls mount for 75-bps rate hike:

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Distressed Deals Pile Up in Canada’s Once-Booming Housing Market:

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Toronto home sales down 41% from June 2021: real estate board:

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In Ontario, real estate buyers are holding out for a price cut:

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Mark Mitchell – Mortgage Broker London Ontario
920 Commissioners Road East
London, Ontario N5Z 3J1
Phone: (519)860-2102 (Call or Text)
MarkMitchell@LondonOntarioMortgages.ca
Brokerage Lic: 10464
Broker Lic: M16001479
[ Ссылка ] – Apply Online!!
Youtube Channel: [ Ссылка ]

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