Market Update: November 2022

November 2022 Market Update

The Market is still trying to navigate through the transition of higher borrow costs. 

Let’s get in to the numbers:

In November, we had just over 4500 sales. Which was a 49.4% decline from just a year ago, where we had a super sellers market. 

 New listings were down 11.6% over the previous year and also down from October. 

The average sale price in the GTA for November was $1,079,395. This was a slight decrease from the previous few months, but is still remaining fairly steady, and above the lowest level we saw in July. 

With the holidays and winter season upon us, prices and sales have historically dropped during this time and this year should be no different!