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Toronto and West GTA Real Estate Market Update – Dec 2022

Jan 24, 2023 | Market News

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

𝐒𝐞𝐚𝐬𝐨𝐧𝐚𝐥𝐥𝐲 𝐚𝐝𝐣𝐮𝐬𝐭𝐞𝐝 𝐦𝐨𝐧𝐭𝐡𝐥𝐲 𝐝𝐚𝐭𝐚 𝐟𝐨𝐫 𝐬𝐚𝐥𝐞𝐬 𝐚𝐧𝐝 𝐩𝐫𝐢𝐜𝐞 𝐝𝐚𝐭𝐚 𝐬𝐡𝐨𝐰 𝐚 𝐦𝐚𝐫𝐤𝐞𝐝 𝐟𝐥𝐚𝐭𝐭𝐞𝐧𝐢𝐧𝐠 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐚𝐥𝐞𝐬 𝐚𝐧𝐝 𝐩𝐫𝐢𝐜𝐞 𝐭𝐫𝐞𝐧𝐝𝐬 𝐬𝐢𝐧𝐜𝐞 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐮𝐦𝐦𝐞𝐫.

The market stats for December in the GTA continued on the trend that values have remained relatively level since the Fall season.

Supply of new listings continue to be an issue as the year ended, down 8.2% over 2021 across TRREB regions.

It is important to note that the average selling price in December 2022 vs. 2021 is up, as we experienced the most distinct growth in property values in Q1 of 2022.

In today’s market it’s critical to present a home in the best possible way in terms of taking care of specific cost effective improvements, home staging, pricing strategy and marketing to ensure success. These are the homes that will sell and in minimal time as compared to the average for each respective home type and category.

Here are our notable take away’s from December 2022’s real estate market activity 📑

◼️ All freehold home categories are down year over year. Toronto with the least decline at 4%

◼️ Mississauga and Oakville detached home values down 17% and 14% to last year, making this a great time for buyers of detached in these areas.

◼️ Toronto condo market flat to last year with a slight 1.5% increase.

◼️ Oakville condos up a whopping 23% over last year. An incredible increase with consistent growth in Oakville condos over the last year.

Buying a condo product in Oakville or Burlington may provide to be a sound investment for 2023. 𝙏𝙖𝙡𝙠 𝙩𝙤 𝙪𝙨 𝙛𝙤𝙧 𝙢𝙤𝙧𝙚 𝙙𝙚𝙩𝙖𝙞𝙡𝙨 𝙖𝙣𝙙 𝙩𝙤 𝙥𝙪𝙩𝙩𝙤𝙜𝙚𝙩𝙝𝙚𝙧 𝙖 𝙥𝙡𝙖𝙣 𝙛𝙤𝙧 𝙮𝙤𝙪𝙧 𝙞𝙣𝙫𝙚𝙨𝙩𝙞𝙣𝙜 𝙣𝙚𝙚𝙙𝙨.

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

⁣⁣⁣𝗧𝗵𝗶𝗻𝗸𝗶𝗻𝗴 𝗼𝗳 𝗯𝘂𝘆𝗶𝗻𝗴 𝗼𝗿 𝘀𝗲𝗹𝗹𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿? 𝗟𝗲𝘁’𝘀 𝗵𝗮𝘃𝗲 𝗮 𝗰𝗼𝗻𝘃𝗲𝗿𝘀𝗮𝘁𝗶𝗼𝗻.

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Toronto Real Estate Market Update December 2022Mississauga Real Estate Market Update December 2022Oakville Real Estate Market Update December 2022Burlington Real Estate Market Update December 2022