December 12, 2022

In November only 4,544 residential properties were reported sold for the greater Toronto area. This is the lowest number of monthly sales recorded in 2022 and almost 50 percent fewer than the 8,979 sales reported for the same month last year. It has been almost 15 years since the market has seen numbers as low as those produced in November.

Although the average sale price has declined substantially since the spring, in fact it has declined by almost 20 percent, it appears to...