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TRUSTWELL REALTY INC. Brokerage's blog

Toronto Real Estate Market Stats - April 2024

For April 2024, GTA real estate market monthly sales increased 8.4% and prices also went up 3.1%. From last year, sales dropped by 5% and prices stayed steady. Detached home prices rose by 1.8% while townhomes dropped by -3.7%.

Sales were down compared to last month while supply has grown quite significantly. Buyers enjoyed more choice but interest rates continue to keep affordability as a concern.

More homes were listed likely in anticipation of more buyer activity while buyers wait for interest rates to come down. Mortgages coming up for renewal have also played a role in motivating...

Toronto Real Estate Market Stats - March 2024

In March 2024, GTA real estate market saw a 17% sales increase from last month despite being 4.5% down from last year. Still, prices edged up a bit over 1% both monthly and yearly.

Compared to last year, average home prices remained somewhat the same, except semi-detached homes which gained 3.1%. On a monthly basis, we saw detached homes with the highest growth in price by 1.6% and volume by 16.0%.

New and active listings continued to grow and add to supply. Although we still saw relatively low sales across all home types, partly due to high interest rates, there was increased sales...

Toronto Real Estate Market Stats - February 2024

In February 2024, GTA real estate sales were up 17.9% from last year and 32.8% from last month. Prices were on the rise 1.1% from last year and 8.0% from last month.

The property types with highest activity growth were detached and semis, which respectively saw 40% and 35% more sales and sharp price increases from last month.

A surge of new listings contributed to a net increase of 1,009 active listings in spite of increased sales. So, buyers will continue to enjoy more choice.

On the other hand, if seasonality continues to bring more buyers, then there will be more competition. High...

Toronto Real Estate Market Stats - January 2024

In January 2024, the GTA saw a 22.6% rise in home sales from December 2023, 37.0% from the previous year. Prices decreased 1.0% compared to last year and 5.3% from the previous month.

Detached homes experienced the most significant monthly average price drop at 4.8% and the smallest sales growth compared to other property types, showing continued affordability challenges.

While buyers usually come back around this time, the surge in sales could also be attributed to lower fixed interest rates and expected rate decreases. Consumer confidence appeared to be on the rise toward the...

Toronto Real Estate Market Stats - December 2023

In December 2023, Toronto’s real estate sales volume was 11.5% greater than last year but down 18.7% from the previous month, which was due in part to seasonality. Prices were up 3.2% compared to last year while holding steady monthly.

Buyer activity for low rise homes improved compared to last year alongside modest price gains. In contrast, condo prices decreased almost 4% while volume was down slightly.

Buyers benefitted from the greater amount of choice and interest rates coming down, which proved helpful for the sellers of more expensive home types to get a higher price....

Toronto Real Estate Market Stats - November 2023

In November 2023, the GTA real estate market saw a decline in prices and volume compared to the previous month. While prices remained stable relative to last year, there was a notable 6% decrease in volume. 

Condos maintained their value from the previous month, whereas the average price decrease was driven by low-rise homes. The overall decrease may reflect a broader trend of increased options for buyers, giving them more bargaining power. 

Although active listings were still high relative to the last 2 years, that number was falling along with the number of new listings. If the...

Toronto Real Estate Market Stats - October 2023

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...

Toronto Real Estate Market Stats - September 2023

For September 2023, GTA real estate average prices broke into an upward monthly trend. Low rise homes were up from this time last year by about 5%, but for condos prices actually dropped by 3.3%.

There was more supply in the market in general. However, we still saw that transactions fell month-over-month and year-over-year across all property types. This highlighted a gap between seller and buyer expectations. Perhaps affordability factors continued to push buyers to the sidelines while some sellers were still able to find buyers who could afford the higher prices.

That said,...

Toronto Real Estate Market Stats - August 2023

In August 2023, the GTA experienced a mixed real estate market compared to the same month last year. Sales volume was down by 5.2%, while the average selling price remained largely unchanged. On a month-over-month basis, there was a 3.2% dip in prices and slight 0.8% increase in volume.

Detached homes saw a 12% decrease in sales but a nearly 3% price increase year-over-year. Semi-detached properties experienced a 14.4% drop in sales with a near 7% rise in prices. Condo apartment sales surged by 7.6%, but their prices slightly decreased by about 1%. Townhouse sales remained relatively...

Toronto Real Estate Market Stats - July 2023

The GTA housing market cooled further in July 2023. The average sold price decreased by 5.4% from the previous month, detached and semi-detached homes were impacted most at -6.8% and -9.3%. Despite the downward trend, there was a 7.8% increase in sales volume compared to the previous year, indicating more robust demand this year.

Like the previous year, rising interest rates may have prompted buyers to step back from the market. There were fewer new listings compared to the previous month but more active listings and fewer sales, suggesting a potential shift in market balance...

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