APRIL 2023 IN REVIEW GTA REALTORS reported 7,531 sales through TRREB’s MLS System in April 2023 – down by 5.2% compared to April 2022. In comparison to March 2023, sales increased on an actual and seasonally adjusted basis. On a year-over-year basis, new listings were down by 38.3% in April 2023. The average selling price in the GTA was $1,153,269 in April 2023 – down 7.8% c...Read More

MARCH 2023 IN REVIEW GTA REALTORS reported 6,896 sales through TRREB’s MLS System in March 2023 – down 36.5% compared to March 2022. On a month-over-month basis, actual and seasonally adjusted sales were up.  New listings were also down on a year-over-year basis, but by a much greater annual rate. This points to tighter market conditions compared to last year. The MLS Ho...Read More

FEBRUARY 2023 IN REVIEW   February sales in the Greater Toronto Area (GTA) were down substantially from the pre-rate hike levels of early 2022. However, the number of new listings also dropped substantially year-over-year. The result was that the average selling price and MLS  HPI continued to level off after trending lower through the spring and summer of last year. On a year-ove...Read More

JANUARY 2023 IN REVIEW   As we moved from 2022 into 2023, the Greater Toronto Area housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022. On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year. There...Read More

  DECEMBER 2022 IN REVIEW   The GTA housing market experienced a marked adjustment in 2022 compared to record levels in 2021.  Following a very strong start to the year, home sales began trending lower through the spring and summer of 2022. Sales prices adjusted downward due to aggressive Bank of Canada rate hikes.  While home sales and prices dominated the headline...Read More

  NOVEMBER 2022 IN REVIEW Higher borrowing costs continued to influence market activity in November. The steady rise in interest rates has caused further market cooling. The result is that sales were down around 49% compared to the same period last year. The average sales price was right around $1.08 for November. This number is down around 7% year over year but has hovered around 1...Read More

  OCTOBER 2022 IN REVIEW The Greater Toronto Area housing market continues to adjust to rising borrowing costs. Demand is down as a lot of buyers have decided to put their home buying plans on hold. New listings are also down year-over-year and month-over-month. The downward trend in home prices that we saw in through the Spring has levelled over the past three months. The average...Read More

SEPTEMBER 2022 IN REVIEW There were 5,038 home sales reported through the Toronto Regional Real Estate Board MLS System in September 2022, representing a year-over-year dip of 44.1 %. New listings were also down on a year-over-year basis by 16.7% to 11,237. This was the lowest number of new listings reported for the month of September since 2002. This is especially troublesome given that t...Read More

    AUGUST 2022 IN REVIEW There were 5,627 home sales reported through the Toronto Regional Real Estate Board MLS System in August 2022, representing a year-over-year dip of 34.2 %. This is a lesser annual rate of decline compared to the previous four months. The August sales result also represented a month-over-month increase compared to July. There were 10,573 of new listing...Read More

JULY 2022 IN REVIEW There were 4,912 home sales reported through the Toronto Regional Real Estate Board (TRREB) MLS System in July 2022 – down by 47% compared to July 2021. Following the regular seasonal trend, sales were also down compared to June. New listings also declined on a year-over-year basis in July, albeit down by a more moderate four percent. The expectation is tha...Read More