Toronto average home price declined in May 2022

Toronto average home price declined in May 2022

Toronto average home price declined in May 2022

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Toronto average home price declined in May 2022!

Freehold Market

The freehold houses' average price, was down 4.1% from the previous month, up 9.3% from the same month last year. The average time to sell this type of home is around 10.5 Days. The current month of inventory of freehold houses in Toronto is about 2. Therefore, this segment of housing is currently in a Seller's Market.

Condo Market

The condo market is a Balanced Market. It takes an average of 14 days to sell a condo unit in Toronto. The average price was down 3.8% from the previous month, up 9.7% from the same month last year. The new listings were down 1.0% from the previous month, and down 7.0% from the same month last year.

Condo market at downtown Core

Condos average price at downtown east of University of Toronto was unchanged v.s. last month, up 10.5% from the same month last year. The average time to sell a condo in Bay Street and Church-Yonge Corridor is around 18.9 Days. The current month of inventory is about 4.6. The condo market in this area is currently in a Strong Buyer's Market.

If you plan to move to Toronto or you want to learn more about real estate investment opportunities in Toronto, please contact Toronto real estate agent Realtor Alan Zheng at 647-877-9311.