You are here: 

Next Step in Selling Process

TRREB (Toronto Regional Real Estate Board) Average Single Family Historical Home Prices and trends for Toronto, GTA and Mississauga

The average prices and the number of sales, once again, both were very strong last month. 

To read the entire Market Watch Report including figures and graphs, please click here

This is the report for latest month in real estate sales from the Toronto Regional Real Estate Board and indicates a 'normal' amount of activity and price levels.

Below is the latest release of figures

	Highlights of the latest report from TRREB for the Residential Real Estate Market in the GTA Real Estate Prices DOWN and Sales Volume DOWN - Mississauga and GTA Real Estate Newsletter January 2023 - Issue 01:06 This months Real Estate Update brings more market news from our real estate market here in Mississauga, Toronto and the GTA. Enjoy and I wish you all the best!  Mark The average selling price for last month was $1,051,216 (it was $1,079,395 last month) and this represents nearly a 9.2% decrease compared to the same month last year. see graph of prices here GTA REALTORS® reported 3,117 (last month was 4,544) home sales through TRREB’s MLS® System in December 2022 – down 48.2 per cent compared to December 2021. New listings totalled 4,074 – down 21.3 per cent compared to 5,177 in December 2021. The MLS Home Price Index Composite Benchmark was down by 8.9 per cent year-over-year in December 2022. On October 26, 2022 the Bank of Canada raised it's benchmark interest rate again, this time to 4.75%   Bank of Canada raises borrowing costs for sixth time in a row amid stubbornly high inflation. The Central bank has been raising rates aggressively to rein in sky-high inflation. Since March of 2022, the central bank has raised its key interest rate six consecutive times, bringing it from 0.25 per cent to 3.75 per cent. The Bank of Canada hiked its trendsetting interest rate by 1/2 percentage point on Wednesday. The current rate is 4.75% The Bank Prime rate for most lenders now stands at 6.95%   read more about interest rates in Canada Summary of 2021:   The average selling price for all properties in 2021 reached a new record of $1,095,475 up by 17.8 per cent compared to the average of $929,699 in 2020. A total of 121,712 sales were reported through the TRREB MLS® System in 2021 up by 28 per cent compared to the 95,151 in 2020.   See more at this page about average prices and read the TRREB full price and data report below.
	PRESS RELEASE: Sales & Price Growth Continue last month See the full press release above.   Please refer to this page to see a graph of Average prices and More
	This is the full price and data report from TRREB for last month GTA REALTORS® RELEASE MONTHLY RESALE HOUSING MARKET FIGURES TRREB RELEASES RESALE MARKET FIGURES AS REPORTED BY GTA REALTORS® A LOOK BACK AT THE 2022 GTA HOUSING MARKET Home Sales and Listings Down While Selling Price and Rent Up TORONTO, ONTARIO, January 5, 2023 – The Greater Toronto Area (GTA) housing market experienced a marked adjustment in 2022 compared to record levels in 2021. Existing affordability issues brought about by a lack of housing supply were exacerbated by sustained interest rate hikes by the Bank of Canada. December 2022 Results • There were 3,117 sales reported through TRREB’s MLS® System in December 2022 – down 48.2 per cent compared to December 2021. • New listings totalled 4,074 – down 21.3 per cent compared to 5,177 in December 2021. • The MLS® Home Price Index Composite benchmark was down 8.9 per cent on a year-over-year basis in December 2022. • The December average selling price, at $1,051,216, was down by 9.2 per cent compared to the December 2021 average of $1,157,837. “Following a very strong start to the year, home sales trended lower in the spring and summer of 2022, as aggressive Bank of Canada interest rate hikes further hampered housing affordability. With no relief from the Office of Superintendent of Financial Institutions (OSFI) mortgage stress test or other mortgage lending guidelines including amortization periods, home selling prices adjusted downward to mitigate the impact of higher mortgage rates. However, home prices started levelling off in the late summer, suggesting the aggressive early market adjustment may be coming to an end,” said new Toronto Regional Real Estate Board (TRREB) President Paul Baron. There were 75,140 sales reported through TRREB’s MLS® System in 2022 – down 38.2 per cent compared to the 2021 record of 121,639. The number of new listings amounted to 152,873 – down 8.2 per cent compared to 166,600 new listings in 2021. Seasonally adjusted monthly data for sales and price data show a marked flattening of the sales and price trends since the late summer. “While home sales and prices dominated the headlines in 2022, the supply of new listings continued to be an issue as well. The number of homes listed for sale in 2022 was down in comparison to 2021. This helps explain why selling prices have found some support in recent months. Lack of supply has also impacted the rental market. As renting has become more popular in this higher interest rate environment, tighter rental market conditions have translated into double-digit average rent increases,” said TRREB Chief Market Analyst Jason Mercer. The average selling price for 2022 was $1,189,850 – up 8.6 per cent compared to $1,095,333 in 2021. This growth was based on a strong start to the year, in terms of year-over-year price growth. The pace of growth moderated from the spring of 2022 onwards. “As we look forward into 2023, there will be two opposite forces impacting the housing market. On the one hand, we will continue to feel the impact of higher borrowing costs. On the other hand, record levels of immigration will support demand for ownership and rental housing, while we struggle to come to terms with a housing and infrastructure deficit in the Greater Golden Horseshoe. These themes will be discussed in TRREB’s upcoming Market Outlook and Year in Review report to be released in early February,” said TRREB CEO John DiMichele. Mark

See the seasonal trends in graphical form

I hope this finds you Happy and Healthy!

All the Best!

Mark

Read about Housing market indicators from last month

See the Average Price Cycles from January 1995 to Date - a very interesting cyclical pattern is clearly seen!

See how the historical 1 year mortgage interest rate compares to the 5 year rate

Mississauga District Prices

This graph shows the 1989 real estate recession in the GTA and how long it took to recover from the drop in the average price from the peak price in February of 1989 to 2002

Economic Indicators

Statistics Canada, Quarter-over-quarter growth, on an annual basis, Statistics Canada, Year-over-year growth for the most recently reported month, Bank of Canada, Rate from most recent Bank of Canada announcement Bank of Canada, Rates for most recently completed month

Of Mississauga’s 240,660 households, 66,655 or 27.7 per cent were renters in 2016, earning an annual income of $58,272. The average cost of rent and utilities per month for Mississauga renters came in at $1,281 compared to $1,109 for the rest of Ontario.

https://www.bramptonguardian.com/news-story/8599132-rental-housing-supply-and-affordability-in-mississauga-and-brampton-are-critical-/

TRREB (Toronto Regional Real Estate Board) Boundaries Districts and Service Districts and Areas

Notes
1. Sales, dollar volume, average sale prices and median sale prices are based on firm transactions entered into the TRREB MLS® System between the first and last day of the month/period being reported.
2. New listings entered into the TRREB MLS® System between the first and last day of the month/period being reported.
3. Active listings at the end of the last day of the month/period being reported.
4. Ratio of the average selling price to the average listing price for firm transactions entered into the TRREB MLS® System between the first and last day of the month/period being reported.
5. Average Listing Days on Market (Avg. LDOM) refers to the average number of days sold listings were on the market. Average Property Days on Market (Avg. PDOM) refers to the average number of days a property was on the market before selling, irrespective of whether the property was listed more than once by the same combination of seller and brokerage during the original listing contract period.
6. Active Listings at the end of the last day of the month/period being reported.
7. Past monthly and year-to-date figures are revised on a monthly basis.
8. SNLR = Sales-to-New-Listings Ratio. Calculated using a 12 month moving average (sales/new listings).
9. Mos. Inv. = Months of Inventory. Calculated using a 12 month moving average (active listings/sales).
10. "Bradford West Gwillimbury" is referred to as "Bradford" and "Whitchurch-Stouffville" is referred to as "Stouffville" in the report

Historic Sales Figures

• Average Price Report for 2022
  
  
• Average Price Report for 2021
• Average Price Report for 2020
• Average Price Report for 2019
• Average Price Report for 2018
• Average Price Report for 2017
• Average Price Report for 2016
• Average Price Report for 2015
• Average Price Report for 2014
• Average Price report for 2013
• Average Price report for 2012
• Average Price report for 2011
• Average Price report for 2010
• Average Price report for 2009
• Average Price report for 2008
• See 2007 year sales figures
• See 2006 year sales figures
• See 2005 year sales figures
• See 2004 year sales figures

Rental Market indicators in the GTA

Archived issues of my TRREB Market Watch reports

• January 2023
  
  
• December 2022
  
• October 2022
  
• September 2022
  
• June 2022
  
• May 2022
  
• April 2022
  
• March 2022
  
• February 2022
  
  
• December 2021
  
• November 2021
  
• October 2021
  
• July 2021
  
• May 2021
  
• April 2021
  
• March 2021
  
• February 2021
  
• January 2021
  
  
• See Past Reports and figures as far back as 1981

Next Step in Selling Process

Sept, '51 da 2021 

Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale  | All Pages including Mississauga Real Estate Blog all maintained by info@mississauga4sale.com Copyright © A. Mark Argentino, P.Eng., Broker, RE/MAX Realty Specialists Inc., Brokerage, Mississauga, Ontario, Canada L5M 7A1 (905) 828-3434  First created - Tuesday, July 16th, 1996 at 3:48:41 PM - Last Update of this website: Thursday, June 1, 2023 6:45 AM
At this Mississauga, (Erin Mills, Churchill Meadows, Sawmill Valley, Credit Mills and or Meadowvale ) Ontario, Canada Real Estate Homes and Property Internet web site you will find relevant information to help you and your family.