Cynthia Yan's video: Toronto Real Estate Market Update June 2022

Toronto Real Estate Market Update June 2022 - In May 2022, there were 7,283 home sales reported through the TRREB MLS System - down by 38.8 per cent compared to the 11,903 sales reported last May, in 2021. - The active listings at the end of May amounted to 15,433 - up 26% year-over-year. - Although many potential home buyers are putting their purchases on hold, showing decreased sales rates, housing demand is still continuing to be supported by other factors such as extremely low unemployment rates, high job vacancies, rising incomes and record immigration. - As higher borrowing costs result in more balanced market conditions, buyers are wielding more negotiating power. - Although average home prices are substantially up year-over-year, selling prices are trending lower month-to-month. - In May 2022, the average selling price for all home types was $1,212,806, a 9.4% increase from last May’s average of $1,108,124 yet a decrease from last month’s average selling price of $1,254,436. - Breaking it down by home type, the average selling price in the GTA for detached homes increased by 9.5% year-over-year, semi-detached increased by 13.2%, townhomes increased by 12.7% and condos increased by 12.9%. For a Free Home Evaluation, hassle free buyer consultation, contact Cynthia Yan at (416) 884-1288, or visit us online at www.cynthiayan.com Website: www.cynthiayan.com Youtube: https://www.youtube.com/channel/UC1IOVpiwGZ6aIJwQrZEeN6Q Facebook: https://www.facebook.com/cynthianyc Instagram: https://www.instagram.com/cynthiayan_elite/ Linked In: https://www.linkedin.com/in/cynthia-yan-01a10b40/