Eugene Palermo

Office: 416-925-9191 |


December 2022 Toronto Real Estate Market Report

The Toronto and area residential resale market limped to the end of 2022, a continuation of the pattern that became clear and established as interest rates began to rise in March of this year. As the Bank of Canada continued its punishing benchmark rate hikes, both sales and average sale prices have been decimated. Once again, no surprises in December.

Here is what has happened to sales since the Bank of Canada commenced its rate hikes in March.

December’s sales results were more than 48 percent...