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Toronto and West GTA Real Estate Market Update – Oct 2022

Nov 22, 2022 | Market News

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for October 2022 vs. 2021 home sales in Toronto, Mississauga, Oakville, Burlington 📈

𝐇𝐨𝐦𝐞 𝐬𝐚𝐥𝐞𝐬 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐭𝐨 𝐚𝐝𝐣𝐮𝐬𝐭 𝐛𝐨𝐭𝐡 𝐨𝐧 𝐚𝐧 𝐚𝐧𝐧𝐮𝐚𝐥 𝐚𝐧𝐝 𝐦𝐨𝐧𝐭𝐡𝐥𝐲 𝐛𝐚𝐬𝐢𝐬.

We’re a little late in sharing this update as ironically despite the market slow down, our team has been quite active with real estate activity. Our direct experience is more encouraging than what the stats suggest.

There are several factors that impact today’s activity, and it’s not a ‘one size fits all approach’. Remember, the media will always make things sound more dramatic.

To have a true understanding of today’s real estate market it is important to review on a macro level within a specific neighbourhood/community, product type, home features and price point. We can provide you with a concise analysis based on your home’s location and unique attributes.

The values are down almost across the board (excluding condos) for the areas in our report, however the variance will depend on the factors mentioned above.

We continue to require more listings to hit the market for balance and to account for a potential critical shortage to come.

𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝗼𝘂𝗿 𝗻𝗼𝘁𝗮𝗯𝗹𝗲 𝘁𝗮𝗸𝗲 𝗮𝘄𝗮𝘆’𝘀 𝗳𝗿𝗼𝗺 𝗢𝗰𝘁𝗼𝗯𝗲𝗿’𝘀 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗮𝗰𝘁𝗶𝘃𝗶𝘁𝘆 📑

◻️ All freehold home categories are down year over year – however the % decrease varies by location. Burlington was the least impacted with only a 4% decline in detached and flat to last year with townhouses.

◻️  Toronto, Mississauga and Oakville freehold detached down between 8 – 10%. This provides an excellent opportunity to buy a detached home in Oakville at a much better value than last year.

◻️  The condo market is on the upside: healthy appreciation in value in Mississauga and Oakville ranging between 6-7% and a whopping 18% increase in Burlington condos, whereas Toronto is flat to last year.

Be sure to view the full details of each area within our update. Click each image to view.⁣⁣

⁣⁣⁣𝗧𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝘀𝗲𝗹𝗹𝗶𝗻𝗴 𝗶𝗻 𝘁𝗵𝗲 𝗻𝗲𝘄 𝘆𝗲𝗮𝗿? 𝗡𝗼𝘄 𝗶𝘀 𝘁𝗵𝗲 𝘁𝗶𝗺𝗲 𝘁𝗼 𝘀𝘁𝗮𝗿𝘁 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴.

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Toronto real estate market update Mississauga real estate market update Oakville real estate market update Burlington real estate market update