“In 2022, we saw one of the biggest single-year shifts on record in Canadian housing activity, from record highs last winter to just below the 10-year average to end the year,” said Jill Oudil, Chair of CREA. “That said, the market’s adjustment to higher rates may be mostly in the rear-view mirror at this point. That could start to bring buyers back off the sidelines this spring. There is long term value in homeownership, and if you’re looking for information and guidance, your best bet is to contact a local REALTOR®,” continued Oudil.
Some highlights of January 2023 real estate activity:
| January Stats | 2022 | 2023 | CHANGE |
| Total Transactions | 5,594 | 3,100 | – 44.6% |
| Average Selling Price | $ 1,242,407 | $ 1,038,668 | – 16.4% |
| Total new Listings | 7,983 | 7,688 | – 3.7% |
Following are the actual sales numbers in January Greater Toronto Area’s major cities compared to January 2022 sales activity: Click the images below to zoom in:
Toronto West
Toronto Central
Toronto East
Durham
Halton
Peel
York
