When referring to the media’s tendency to print bad news, almost everyone is familiar with the saying, “If it bleeds it leads.” No one is going to click on an article that leads with, “All is well, go about your day.” The best chance for any form of media, whether print or digital, is to lead with bad news, which nowadays is referred to as, “Clickbait”.
They bait you with a doom and gloom headline and then they make their money from the “Click” they receive when you click on the article, which they then tally up and show to advertisers so that they can set a profitable rate for their ads. Why am I talking about this? How many headlines have you read about sales being down or the market being in a spiral?
Yes, the sales are down, SALES VOLUME, but not the average price.
Here are the latest numbers for the average sales price for Toronto:
July 2022: $1,074,754.
August 2022: $1,079,500.
September 2022: $1,086,762.
October 2022: $1,089,428.
As you can see, according to the Toronto Regional Real Estate Board statistics, the Average Sales Price has remained stable for the last four months.
All is good, go about your day breathing easy and be well.