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Toronto Real Estate Board Marketwatch Report
October had 4.961 sales - a similar number to September 2022 but down 49.1% compared to 9,743 in October 2021.
New listings were down by 11.6% with active listings at the end of October at 10,390 compared to 11,749 in Octo 2021. New listings in the mid to high density home types were down which helps to explain why prices have held up better in these categories compared to detached homes.
Average sales price was down 5.7% from $1,155,624 in October 2021 to $1,089,428 in October 2022. The persistent lack of inventory helps explain why the downward trend in home prices experienced in the spring has flattened over the past three months.
Average days on the market for October 2022 is 21 compared to 13 days in October 2021 - an increase of 61.5%.
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