Greater Toronto Area (GTA) home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year. The average selling price was up by 2.6 per cent compared to November 2023 to $1,106,050.
Greater Toronto Area (GTA) home sales increased strongly year-over-year in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up by 1.1 per cent compared to October 2023 to $1,135,215.
Greater Toronto Area (GTA) home sales increased year-over- year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices. The average selling price, at $1,107,291 was down by a lesser one per cent compared to the September 2023 average of $1,118,215.
Greater Toronto Area (GTA) home sales were down on a year- over-year basis in August 2024. New listings were up slightly over the same period. While the region’s housing market remained well-supplied in August, average home prices only edged slightly lower compared to August 2023. The average selling price was down by 0.8 per cent compared to August 2023 to $1,074,425.
Greater Toronto Area (GTA) home sales in July 2024 were up compared to July 2023. While sales were up from last year, buyers continued to benefit from more choice in the GTA marketplace, with annual growth in new listings outstripping that of sales. The better-supplied market meant that buyers also benefitted from a slight relief in selling prices on average. The average selling price of $1,106,617 was down by 0.9 per cent over the July 2023 result of $1,116,950.
May home sales continued at low levels, especially in comparison to last spring’s short-lived pick-up in market activity. With more choice compared to a year ago, buyers benefitted from more negotiating room on prices. The average selling price of $1,165,691 was down by 2.5 per cent over the May 2023 result of $1,195,409. On a seasonally adjusted monthly basis, the average selling price edged up slightly compared to April 2024.
Greater Toronto Area (GTA) REALTORS® reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLS® System in April 2024 – down by five per cent compared to April 2023. New listings were up by 47.2 per cent over the same period. On a seasonally adjusted monthly basis, sales edged lower while new listings were up compared to March. The average selling price was up by 0.3 per cent to $1,156,167.
Greater Toronto Area (GTA) home sales and new listings were up on an annual and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home sales below the February sales record reached in 2021. Home selling prices in February 2024 remained similar to February 2023. The MLS® Home Price Index Composite benchmark edged up by 0.4 per cent. The average selling price of $1,108,720 increased by a modest 1.1 per cent.
High borrowing costs and uncertain economic conditions continued to weigh on Greater Toronto Area (GTA) home sales in November 2023. Sales were down on a year-over-year basis, while listings were up from last year’s trough in supply. With more choice in the market, selling prices remained basically flat year-over-year.
Lack of affordability and uncertainty remained issues for many would-be home buyers in the Greater Toronto Area (GTA) in October 2023. As a result, sales edged lower compared to last year. However, selling prices remained higher than last year’s levels. The October 2023 MLS® Home Price Index Composite benchmark and the average selling price were both up on year- over-year basis, by 1.4 per cent and 3.5 per cent respectively.