Ontario MLS® home sales down to average April, more supply returning to market
Residential sales activity reported through the MLS® Systems of real estate boards in Ontario numbered 20,021 units in April 2022. This was a sharp decrease of 34.1% from April 2021.
Home sales were 1.2% above the five-year average and 6.6% below the 10-year average for the month of April.
On a year-to-date basis, home sales totalled 76,127 units over the first four months of the year. This was down sharply by 22.9% from the same period in 2021.
Nationally, home sales activity posted a substantial decline of 25.7% from year-ago levels in April 2022.
The average price of resale residential homes sold across the province in April 2022 was $985,354, an increase of 13.3% from April 2021.
The more comprehensive year-to-date average price was $1,034,820, a sizable gain of 19.7% from the first four months of 2021.
The national average price, by comparison, was up by 7.4% on a year-over-year basis to $746,146 in April 2022.
The number of new listings on MLS® Systems of real estate boards in Ontario saw a decline of 7.8% from April 2021. There were 39,490 new residential listings in April 2022.
New listings were 17.5% above the five-year average and 7.7% above the 10-year average for the month of April.
Active residential listings numbered 27,232 units on the market at the end of April, up by 11.7% from the end of April 2021.
Active listings were 22.1% below the five-year average and 42.5% below the 10-year average for the month of April.
Months of inventory numbered 1.4 at the end of April 2022, up from the 0.8 months recorded at the end of April 2021 and below the long-run average of 2.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
The dollar value of all home sales in the province in April 2022 was $19.7 billion, a decline of 25.3% from the same month in 2021.
1 Oakville-Milton, Greater Toronto
2 Cornwall, Kingston and Area, Ottawa, Renfrew County, Rideau-St. Lawrence
3 Bancroft & District, Barrie & District, Kawartha Lakes, Lakelands, Northumberland Hills, Peterborough and the Kawarthas, Quinte & District
4 North Bay, Saul Ste. Marie, Sudbury, Thunder Bay, Timmins, Cochrane & Timiskaming Districts
5 Brantford Region, Cambridge, Guelph & District, Hamilton-Burlington, Kitchener-Waterloo, Niagara Region, Simcoe
6 Chatham-Kent, Grey Bruce Owen Sound, Huron Perth, London & St. Thomas, Sarnia-Lambton, Tillsonburg District, Windsor-Essex, Woodstock-Ingersoll
BOARD & ASSOCIATION INFORMATION
The Ontario Real Estate Association represents 78,000 brokers and salespeople who are members of the 38 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services. The association provides all real estate licensing courses in Ontario. REALTOR® is a trademark, which identifies real estate professionals who are members of the Canadian Real Estate Association and, as such, subscribe to a high standards of professional service and to a strict Code of Ethics.
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