In October 2023, the GTA real estate market was rather stable with a slight decline of activity compared to October 2022. While prices were up slightly from the previous month, they grew by 3.5% year-over-year. The condo market was actually trailing in prices from the previous year. Volume remained consistent in recent months but showed a 5.8% dip when compared to last year.
Although sales volumes remained steady, new and active listings continued to climb, making room for more activity. However, the rental market benefited the most from shifting dynamics like population growth and uncertainties around high interest rates. Federal Government has signalled they may hold, then cut rates in 2024.