How Has the Market Shift Impacted Your Home’s Value?
Learn More

By The Numbers 

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

Get Your Community Specific Report Here

6,474

TREB Sales 

June 2022

11,053

TREB Sales 

June 2021

$1,146,254

TREB Average 

June 2022

$1,088,991

TREB Average Price June 2021

June Numbers 2022

  • Number of Sales 2022
    6,474 | -41.4%
  • Number of Sales 2021
    11,053
  • Number of New Listing 2022
    16,347 | +1.0%
  • Number of New Listings 2021
    16,193
  • Number of Active Listing 2022
    16,093 | +42.5%
  • Number of Active Listings 2021
    11,293
  • Average Price 2022
    $1,146,254| +5.3%
  • Average Price 2021
    $1,088,991
  • Average Days on the Market (DOM) 2022
    15 Days | +15.4%
  • Average Days on the Market (DOM) 2021
    13 Days

TREB Market Summary

Higher borrowing costs continued to impact home sales in June 2022. Sales totalled 6,474 – down by 41 percent compared to last year’s strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market.

The average selling price, at $1,146,254, remained 5.3 percent above the June 2021 level but continued to trend lower on a monthly basis. The MLS® Home Price Index Composite Benchmark was up by 17.9 percent year-over-year but also experienced a month-over-month dip compared to May. Annual price growth was driven more so by less expensive market segments, including townhouses and condominium apartments.

“Home sales have been impacted by both the affordability challenge presented by mortgage rate hikes and the psychological effect wherein home buyers who can afford higher borrowing costs have put their decision on hold to see where home prices end up. Expect current market conditions to remain in place during the slower summer months. Once home prices stabilize, some buyers will re-enter the market despite higher borrowing costs,” said TRREB President Kevin Crigger.

While the number of transactions was down year-over-year, the number of new listings was little changed over the same period. This has provided for more balance in the market, resulting in a more moderate annual pace of price growth.

“Listings will be an important indicator to watch over the next few months. With the unemployment rate low, the majority of households aren’t in a position where they need to sell their home. If would-be sellers decide to take a wait-and-see attitude over the next few months, it’s possible that active listings could trend lower as well. This could cause market conditions to tighten somewhat, providing some support for home prices,” said TRREB Chief Market Analyst Jason Mercer.

“Our region continues to grow because we attract people and businesses from all around the world. All of these people will require a place to live, whether they choose to buy or rent. Despite the shorter-term impact of higher borrowing costs, housing demand will remain strong over the long term, as long as we can produce homes within which people can live. Policymakers at all levels need to make this their key goal,” said TRREB CEO John DiMichele.

Breaking Down The Numbers

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

Get Your Community Specific Report!

Detached

$1,454,902 | +3.5%

3,012 | -41.4%

Townhouse

$933,056 | +8.6%

1,097 | -44.0%

Semi Det. 

$1,124,723 | +6.4%

634 | -39.5%

Condo Apt.

$747,216 | +9.3%

1,678 | -39.9%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    747 | -30.8%.
  • 905 - Detached
    2,265 | -44.3%
  • 416 - Semi Detached
    245 | -41.8%
  • 905 - Semi Detached
    389 | -38.0%
  • 416 - Townhouse
    243 | -42.6%
  • 905 - Townhouse
    854 | -44.4%.
  • 416 - Condos
    1,165 | -38.5%
  • 905 - Condos
    513 | -42.8%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,737,012 | +2.4%
  • 905 - Detached
    $1,361,862 | +2.4%
  • 416 - Semi Detached
    $1,343,378 | +5.9%
  • 905 - Semi Detached
    $987,009 | +7.8%
  • 416 - Townhouse
    $1,027,050 | +9.1%,
  • 905 - Townhouse
    $906,311 | +8.3%
  • 416 - Condo
    $771,267 | +7.4%
  • 905 - Condo
    $692,598 | +13.2%.

Economic Indicators

  • Real GDP Growth | Q1 - 2022
    Down | 3.1%
  • Toronto Employment Growth | May 2022
    Up| 8.5%.
  • Inflation Rate (Yr/Yr CPI Growth) | May 2022
    Up | 7.7%
  • Toronto Unemployment Rate | May 2022
    Down | 6.2%
  • Bank of Canada Overnight Rate | May 2022
    Up | 1.50%
  • Prime Rate | May 2022
    Unchanged | 3.70%
  • Mortgage Rates June 2022 (1yr/3Yr|5Yr)
    4.74% | 5.39% | 6.04%
We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info