{"id":19011,"date":"2022-05-04T16:20:05","date_gmt":"2022-05-04T20:20:05","guid":{"rendered":"https:\/\/www.zoocasa.com\/blog\/?p=19011"},"modified":"2022-05-04T17:21:49","modified_gmt":"2022-05-04T21:21:49","slug":"trreb-april-2022","status":"publish","type":"post","link":"https:\/\/www.zoocasa.com\/blog\/trreb-april-2022\/","title":{"rendered":"Great News for Buyers &#8211; Home Prices are Dropping in the GTA: TRREB"},"content":{"rendered":"\n<p>Following the <a href=\"https:\/\/www.zoocasa.com\/blog\/boc-april-2022\/\"><strong><span class=\"has-inline-color has-vivid-cyan-blue-color\">Bank of Canada\u2019s interest rate increase<\/span><\/strong><\/a>, we are finally seeing the red hot Toronto market begin to cool down, making way for buyers who have been wary of entering the competitive market.&nbsp; Some cities are leading the way in terms of becoming more affordable and opening up opportunities for those sitting on the fence. Below are the four most affordable cities in the GTA based on average composite home price index (HPI).&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/interest-rates-rising-april-2022\/\"><strong><span class=\"has-inline-color has-vivid-cyan-blue-color\">Reality Check: Interest Rates Are Rising, Securing a Mortgage Rate Now is Best for Buyers&nbsp;<\/span><\/strong><\/a><\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Home Prices are Becoming more Affordable Across Toronto and the GTA&nbsp;<\/strong><\/h2>\n\n\n\n<p>The April 2022 numbers from the Toronto Regional Real Estate Board (TRREB) show that the Home Price Index (HPI) Composite Benchmark was down in comparison to the March level, with the average selling price being $1,254,436 in April, compared to $1,300,082 in March. This is great news for buyers, especially those that have locked in a pre-approved mortgage rate.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Read: <\/strong><a href=\"https:\/\/www.zoocasa.com\/blog\/cheapest-houses-for-sale-mississauga\/\"><strong><span class=\"has-inline-color has-vivid-cyan-blue-color\">7 Houses Under $900,000 For Sale in Mississauga<\/span><\/strong><\/a><\/li><\/ul>\n\n\n\n<p>The majority of homes sold were townhouses and detached, with more than 1000 townhouse sales and over 2700 detached home sales in the GTA. The average price was $997,416 and $1,526,791 respectively, a year-over-year price increase of 20% and 16.8%. Month-over-month, the average price of townhouses fell by 7.6% in April, and detached homes by 6.5%. In the City of Toronto, the majority of sales were condo apartments, with an average sale price of $820,835.\u00a0<\/p>\n\n\n\n<p>\u201cIt is anticipated that there will be enough competition between buyers to support continued price growth relative to 2021, but the annual pace of growth will moderate in the coming months,\u201d said TRREB Chief Market Analyst, Jason Mercer. This signals a more balanced market and the time for motivated buyers to make their move.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"478\" height=\"1024\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-478x1024.jpg\" alt=\"\" class=\"wp-image-19014\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-478x1024.jpg 478w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-140x300.jpg 140w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-768x1645.jpg 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-717x1536.jpg 717w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-956x2048.jpg 956w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-750x1607.jpg 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG-1140x2442.jpg 1140w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/2IUBHIHG.jpg 600w\" sizes=\"auto, (max-width: 478px) 100vw, 478px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"478\" height=\"1024\" src=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-478x1024.jpg\" alt=\"\" class=\"wp-image-19015\" srcset=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-478x1024.jpg 478w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-140x300.jpg 140w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-768x1645.jpg 768w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-717x1536.jpg 717w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-956x2048.jpg 956w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-750x1607.jpg 750w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2-1140x2442.jpg 1140w, https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/TRREB-CITY-OF-TORONTO-2.jpg 600w\" sizes=\"auto, (max-width: 478px) 100vw, 478px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Four Most Affordable Cities in the GTA Right Now<\/strong><\/h2>\n\n\n\n<p>Here are the four cities with the most affordable average price in the GTA as of April 2022.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/brock-on-real-estate\" target=\"_blank\"><span class=\"has-inline-color has-vivid-cyan-blue-color\">Brock<\/span><\/a><\/strong><\/h3>\n\n\n\n<p>The leader on our list of most affordable cities in the GTA is Brock. The average price was $857,224 in April, meaning that Brock homes can be scooped up for $200,000 less than the GTA average. There were 13 home sales and 51 new listings. This led to the sales-to-new-listings ratio (SNLR), the measure of available inventory and new listings entering the market, of 69.2%.\u00a0<\/p>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=brock-on&#038;latitude=44.3451011731254&#038;longitude=-79.0977190366382&#038;zoom=14&#038;detached=true&#038;semidetached=true&#038;attached=true&#038;townhouse=true&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Brock%2C%20ON&#038;include-private-listings=false\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h3 class=\"wp-block-heading\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/essa-on-real-estate\" target=\"_blank\"><span class=\"has-inline-color has-vivid-cyan-blue-color\">Essa<\/span><\/a><\/strong><\/h3>\n\n\n\n<p>Second on our list is Essa. The average price was $918,126 in April, which much to the delight of buyers is $170,000 less than the average in the GTA. There were a total of 39 sales and 96 new listings, for a SNLR of 68%.&nbsp;<\/p>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=essa-on&#038;latitude=44.2610726537132&#038;longitude=-79.8126670499294&#038;zoom=14&#038;detached=true&#038;semidetached=true&#038;attached=true&#038;townhouse=true&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Essa%2C%20ON&#038;include-private-listings=false\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h3 class=\"wp-block-heading\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/oshawa-on-real-estate\" target=\"_blank\"><span class=\"has-inline-color has-vivid-cyan-blue-color\">Oshawa<\/span><\/a><\/strong><\/h3>\n\n\n\n<p>The average price in Oshawa was $936,561. It was a busy month for real estate in the city, with the average home price coming in $150,000 below the GTA average, there were 296 sales and 636 new listings, for a SNLR of 75.5%.&nbsp;<\/p>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=oshawa-on&#038;latitude=43.9368172383732&#038;longitude=-78.8721386400306&#038;zoom=14&#038;detached=true&#038;semidetached=true&#038;attached=true&#038;townhouse=true&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Oshawa%2C%20ON&#038;include-private-listings=false\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n\n<h3 class=\"wp-block-heading\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.zoocasa.com\/orangeville-on-real-estate\" target=\"_blank\"><span class=\"has-inline-color has-vivid-cyan-blue-color\">Orangeville<\/span><\/a><\/strong><\/h3>\n\n\n\n<p>Last on our list is Orangeville. Coming in $150,000 below the GTA average, Orangeville\u2019s average price in April was $938,711. There were 64 sales in April and 118 new listings, for a SNLR of 76.6%.&nbsp;<\/p>\n\n\n\n<!-- iframe plugin v.4.5 wordpress.org\/plugins\/iframe\/ -->\n<iframe loading=\"lazy\" src=\"https:\/\/www.zoocasa.com\/team\/listings-widget?rental=false&#038;status=available&#038;slug=orangeville-on&#038;latitude=43.9154571042071&#038;longitude=-80.108566828668&#038;zoom=14&#038;detached=true&#038;semidetached=true&#038;attached=true&#038;townhouse=true&#038;condo=true&#038;bedrooms=0%2B&#038;bathrooms=1%2B&#038;parking-spaces=0%2B&#038;open-house=false&#038;garage=false&#038;pool=false&#038;fireplace=false&#038;waterfront=false&#038;single-family=false&#038;basement-apartment=false&#038;duplex=false&#038;triplex=false&#038;fourplex=false&#038;locker=any&#038;area-name=Orangeville%2C%20ON&#038;include-private-listings=false\" style=\"min-height: 500px;\" width=\"100%\" height=\"500\" scrolling=\"yes\" class=\"iframe-class\" frameborder=\"0\"><\/iframe>\n\n\n\n<div class=\"cta\">\n<div class=\"cta-left\">\n<div class=\"cta-title\">Considering Getting Into The Market This Spring?<\/div>\n<div class=\"cta-body\">Sign Up for a Free Buyer Consultation<\/div>\n<\/div>\n<div class=\"cta-right\"><a href=\"https:\/\/www.zoocasa.com\/buy-with-zoocasa\"><button class=\"cta-button\">Talk To Our Experts<\/button><\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Following the Bank of Canada\u2019s interest rate increase, we are finally seeing the red hot Toronto market begin to cool down, making way for buyers who have been wary of entering the competitive market.&nbsp; Some cities are leading the way in terms of becoming more affordable and opening up opportunities for those sitting on the [&hellip;]<\/p>\n","protected":false},"author":121,"featured_media":19012,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"subtitle":"","format":"standard","video":"","gallery":"","source_name":"","source_url":"","via_name":"","via_url":"","override":[{"single_blog_custom":"","sidebar":"","second_sidebar":"","share_position":"","share_float_style":"","post_date_format":"","post_date_format_custom":"","post_reading_time_wpm":"","zoom_button_out_step":"1","zoom_button_in_step":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"","single_post_gallery_size":""}],"trending_post_position":"","trending_post_label":"","sponsored_post_label":"","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo":"","sponsored_post_desc":""},"jnews_primary_category":{"id":""},"footnotes":""},"categories":[58,76,1107,181],"tags":[],"class_list":["post-19011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-affordability","category-buying-a-home","category-infographics","category-toronto-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Great News for Buyers - Home Prices are Dropping in the GTA: TRREB | Zoocasa Blog<\/title>\n<meta name=\"description\" content=\"Following the Bank of Canada\u2019s interest rate increase, we are finally seeing the red hot Toronto market begin to cool down, making way for buyers who have\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zoocasa.com\/blog\/trreb-april-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Great News for Buyers - Home Prices are Dropping in the GTA: TRREB | Zoocasa Blog\" \/>\n<meta property=\"og:description\" content=\"Following the Bank of Canada\u2019s interest rate increase, we are finally seeing the red hot Toronto market begin to cool down, making way for buyers who have\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zoocasa.com\/blog\/trreb-april-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"Zoocasa Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Zoocasa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-04T20:20:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-04T21:21:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.zoocasa.com\/blog\/wp-content\/uploads\/2022\/05\/Hero-Blog-TRREB.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"338\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Patti Cosgarea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:site\" content=\"@Zoocasa\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patti Cosgarea\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/trreb-april-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.zoocasa.com\/blog\/trreb-april-2022\/\"},\"author\":{\"name\":\"Patti Cosgarea\",\"@id\":\"https:\/\/www.zoocasa.com\/blog\/#\/schema\/person\/58db069b6f1e63e7b8dc3da91b554892\"},\"headline\":\"Great News for Buyers &#8211; 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