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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...

Toronto Real Estate Market Stats - June 2023

In June 2023, GTA home prices and sales volume dipped from last month while still surpassing the previous year's figures.

As buyers and sellers were getting accustomed to the lending environment, the BoC further increased interest rates causing some uncertainty in the market.

Still, semi-detached homes showed resilience in prices, being the only type to increase average sale price from last month. Volume in more affordable property types, especially condos, surged from the previous year.

Toronto Real Estate Market Stats - March 2023

In March 2023, the GTA housing market was tighter than last year but showed signs of resurgence. Average selling prices were down 14.6% YoY but up slightly from Feb 2023. Sales volume decreased by 36.5% but jumped by 44.2% from Feb 2023. Improving sales volume and stability in prices show buyers and sellers are coming back.

Toronto Real Estate Market Stats - February 2023

Sales volume fell from this time last year, but actual inventory fell even more. Demand continued to shift to the more affordable home types, especially those under the $1M price. Despite an 18% drop in home prices from last year, there was a slight bounce up 5.5% from January.

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