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By The Numbers 

The Toronto Real Estate Boards statistics year over year for the month of April. 

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8,008

TREB Sales 

April 2022

13,613

TREB Sales 

April 2021

$1,254,436

TREB Average 

April 2022

$1,090,414

TREB Average Price April 2021

April Numbers 2022

  • Number of Sales 2022
    8,008 | -41.2%
  • Number of Sales 2021
    13,613
  • Number of New Listing 2022
    18,413 | -11.7%
  • Number of New Listings 2021
    20,841
  • Number of Active Listing 2022
    13,098 | +12.3%
  • Number of Active Listings 2021
    11,668
  • Average Price 2022
    $1,254,436| +15.0%
  • Average Price 2021
    $1,090,414
  • Average Days on the Market (DOM) 2022
    11 Days | +1.1%
  • Average Days on the Market (DOM) 2021
    10 Days

TREB Market Summary

The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given the higher rate environment and related impact on affordability.

“Based on the trends observed in the April housing market, it certainly appears that the Bank of Canada is achieving its goal of slowing consumer spending as it fights high inflation. Negotiated mortgage rates rose sharply over the past four weeks, prompting some buyers to delay their purchase. Moving forward, it will be interesting to see the balance the Bank of Canada strikes between combatting inflation versus stunting economic growth and related government revenues as we continue to recover from and pay for pandemic-related programs,” said TRREB President Kevin Crigger.

GTA REALTORS® reported 8,008 homes sold through TRREB’s MLS® System in April 2022 – a 41.2 percent decrease compared to April 2021 and a 27 percent decrease compared to March 2022. On a year-over-year basis, the decline in sales was greater in the ‘905’ area code regions surrounding Toronto, particularly for detached houses. The MLS® Home Price Index Composite Benchmark was up by 30.6 percent year-over-year in April 2022. The benchmark level in April was down in comparison to the March level. The average selling price, at $1,254,436, was up by 15 percent compared to April 2021, but down compared to the average selling price of $1,300,082 in March 2022.

“Despite slower sales, market conditions remained tight enough to support higher selling prices compared to last year. However, in line with TRREB’s forecast, there is evidence of buyers responding to increased choice in the marketplace, with the average and benchmark prices dipping month-over-month. It is anticipated that there will be enough competition between buyers to support continued price growth relative to 2021, but the annual pace of growth will moderate in the coming months,” said TRREB Chief Market Analyst Jason Mercer.

Breaking Down The Numbers

Sales Numbers, average price  percentage changes over the same time last year.

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Detached

$1,628,343 | +17.5%

3,600 | -44.5%

Townhouse

$1,019,350 | +18.8%

1,368 | -43.5%

Semi Det. 

$1,259,243| +17.8%

802 | -38.2%

Condo Apt.

$789,869 | +14.1%

2,173 | -33.8%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    868 | -23.9%.
  • 905 - Detached
    2,732 | -47.2%
  • 416 - Semi Detached
    311 | -29.7%
  • 905 - Semi Detached
    491 | -39.6%
  • 416 - Townhouse
    335 | -30.1%
  • 905 - Townhouse
    1,033 | -44.1%.
  • 416 - Condos
    1,481 | -18.3%
  • 905 - Condos
    685 | -32.2%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,947,975 | +14.9%
  • 905 - Detached
    $1,526,791 | +16.8%
  • 416 - Semi Detached
    $1,494,640 | +14.1%
  • 905 - Semi Detached
    $1,110.142| +19.9%
  • 416 - Townhouse
    $1,086,986 | +15.0%,
  • 905 - Townhouse
    $997,416 | +20.0%
  • 416 - Condo
    $831,351 | +12.8%
  • 905 - Condo
    $722,601 | +18.0%.

Economic Indicators

  • Real GDP Growth | Q4 - 2021
    Up | 6.6%
  • Toronto Employment Growth | March 2022
    Up| 7.8%.
  • Inflation Rate (Yr/Yr CPI Growth) | March 2022
    Up | 6.7%
  • Toronto Unemployment Rate | March 2022
    Down | 7.2%
  • Bank of Canada Overnight Rate | April 2022
    Unchanged | 1.00%
  • Prime Rate | April 2022
    Unchanged | 3.20%
  • Mortgage Rates March 2022 (1yr/3Yr|5Yr)
    3.29% | 4.09% | 4.99%
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