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Toronto Market Report Infographics
INFOGRAPHICS: October 2024 TRREB Toronto Market Reports
GTA REALTORS® Release October Stats
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.
“As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population growth. With every rate cut, a growing number of GTA households will afford a long-term investment in home ownership, including first-time buyers,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.
GTA REALTORS® reported 4,996 home sales through TRREB’s MLS® System in September 2024 – up by 8.5 per cent compared to 4,606 sales reported in September 2023. New listings entered into the MLS® System amounted to 18,089 – up by an even greater 10.5 per cent year-over-year. On a seasonally adjusted basis, September sales increased on a monthly basis compared to August, along with new listings.
Read the full report on TRREB website!
The following data is a comparison between October2024 and October 2023 numbers, and is current as of November 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – October 2024 TRREB, Toronto Market Report
INFOGRAPHICS: September 2024 TRREB Toronto Market Reports
GTA REALTORS® Release September Stats
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.
“As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population growth. With every rate cut, a growing number of GTA households will afford a long-term investment in home ownership, including first-time buyers,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.
GTA REALTORS® reported 4,996 home sales through TRREB’s MLS® System in September 2024 – up by 8.5 per cent compared to 4,606 sales reported in September 2023. New listings entered into the MLS® System amounted to 18,089 – up by an even greater 10.5 per cent year-over-year. On a seasonally adjusted basis, September sales increased on a monthly basis compared to August, along with new listings.
Read the full report on TRREB website!
The following data is a comparison between September 2024 and September 2023 numbers, and is current as of October 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – September 2024 TRREB, Toronto Market Report
INFOGRAPHICS: August 2024 TRREB Toronto Market Reports
GTA REALTORS® Release August Stats
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 Bank of Canada’s rate cut announced on September 4 will lead to a further improvement in affordability, especially for those using variable rate mortgages. First-time buyers are especially sensitive to changes in borrowing costs. As mortgage rates continue to trend lower this year and next, we should experience an uptick in first-time buying activity, including in the condo market,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.
Read the full report on TRREB website!
The following data is a comparison between August 2024 and August 2023 numbers, and is current as of September 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – August 2024 TRREB, Toronto Market Report
INFOGRAPHICS: July 2024 TRREB Toronto Market Reports
GTA REALTORS® Release July Stats
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.
“It was encouraging to see an uptick in July sales relative to last year. We may be starting to see a positive impact from the two Bank of Canada rate cuts announced in June and July. Additionally, the cost of borrowing is anticipated to decline further in the coming months. Expect sales to accelerate as buyers benefit from lower monthly mortgage payments,” said TRREB President Jennifer Pearce.
GTA REALTORS® reported 5,391 home sales through TRREB’s MLS® System in July 2024 – a 3.3 per cent increase compared to 5,220 sales reported in July 2023. New listings entered into the MLS® System amounted to 16,296 – up by 18.5 per cent year-over-year. On a seasonally adjusted basis, July sales and new listings edged lower compared to June
Read the full report on TRREB website!
The following data is a comparison between July 2024 and July 2023 numbers, and is current as of August 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – July 2024 TRREB, Toronto Market Report
INFOGRAPHICS: June 2024 TRREB Toronto Market Reports
GTA REALTORS® Release June Stats
June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB). Despite the Bank of Canada rate cut at the beginning of last month, many buyers kept their home purchase decisions on hold. The market remained well-supplied, resulting in a slight dip in the average selling price compared to June 2023.
“The Bank of Canada’s rate cut last month provided some initial relief for homeowners and home buyers. However, the June sales result suggests that most home buyers will require multiple rate cuts before they move off the sidelines. This follows Ipsos polling for TRREB, which suggested that cumulative rate cuts of 100 basis points or more are required to boost home sales by any significant amount,” said TRREB President Jennifer Pearce.
GTA REALTORS® reported 6,213 home sales through TRREB’s MLS® System in June 2024 – a 16.4 per cent decline compared to 7,429 sales reported in June 2023. New listings entered into the MLS® System amounted to 17,964 – up by 12.3 per cent year-over-year.
Read the full report on TRREB website!
The following data is a comparison between June 2024 and June 2023 numbers, and is current as of July 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – June 2024 TRREB, Toronto Market Report
INFOGRAPHICS: May 2024 TRREB Toronto Market Reports
GTA REALTORS® Release May Stats
May home sales continued at low levels, especially in comparison to last spring’s short-lived pick-up in market activity. Home buyers are still waiting for relief on the mortgage rate front. Existing homeowners are anticipating an uptick in demand, as evidenced by a year-over-year increase in new listings. With more choice compared to a year ago, buyers benefitted from more negotiating room on prices.
“Recent polling from Ipsos indicates that home buyers are waiting for clear signs of declining mortgage rates. As borrowing costs decrease over the next 18 months, more buyers are expected to enter the market, including many first-time buyers. This will open up much needed space in a relatively tight rental market,” stated Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.
Greater Toronto Area REALTORS® reported 7,013 home sales through TRREB’s MLS® System in May 2024 – a 21.7 per cent decline compared to 8,960 sales reported in May 2023. New listings entered into the MLS® System amounted to 18,612 – up by 21.1 per cent year-over-year.
Read the full report on TRREB website!
The following data is a comparison between May 2024 and May 2023 numbers, and is current as of June 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – May 2024 TRREB, Toronto Market Report
INFOGRAPHICS: April 2024 TRREB Toronto Market Reports
TRREB: More Choice for Home Buyers in April
April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year.
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.
“Listings were up markedly in April in comparison to last year and last month. Many homeowners are anticipating an increase in demand for ownership housing as we move through the spring. While sales are expected to pick up, many would-be home buyers are likely waiting for the Bank of Canada to actually begin cutting its policy rate before purchasing a home,” said TRREB President Jennifer Pearce.
Read the full report on TRREB website!
The following data is a comparison between April 2024 and April 2023 numbers, and is current as of May 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – April 2024 TRREB, Toronto Market Report Part 1
Download Printable Version – April 2024 TRREB, Toronto Market Report Part 2
INFOGRAPHICS: March 2024 TRREB Toronto Market Reports
GTA REALTORS® Release March Stats
March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level.
Greater Toronto Area (GTA) REALTORS® reported 6,560 sales through TRREB’s MLS® System in March 2024 – down by 4.5 per cent compared to March 2023. New listings were up by 15 per cent over the same period. On a seasonally adjusted monthly basis, sales were down by 1.1 per cent. New listings were down by three per cent compared to February.
The first quarter ended with sales up by 11.2 per cent year-over-year. New listings were up by a greater annual rate of 18.3 per cent.
“We have seen a gradual improvement in market conditions over the past quarter. More buyers have adjusted to the higher interest rate environment. At the same time, homeowners may be anticipating an improvement in market conditions in the spring, which helps explain the marked increase in new listings so far this year. Assuming we benefit from lower borrowing costs in the near future, sales will increase further, new listings will be absorbed, and tighter market conditions will push selling prices higher,” said TRREB President Jennifer Pearce.
Read the full report on TRREB website!
The following data is a comparison between March 2024 and March 2023 numbers, and is current as of April 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – March 2024 TRREB, Toronto Market Report Part 1
Download Printable Version – March 2024 TRREB, Toronto Market Report Part 2
INFOGRAPHICS: February 2024 TRREB Toronto Market Reports
GTA REALTORS® Release February Stats
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.
“We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future. A growing number of homebuyers have also come to terms with elevated mortgage rates over the past two years. To minimize higher monthly payments, some buyers have likely saved up a larger down payment, chosen to purchase a less-expensive home type and/or looked to a different location in the GTA,” said TRREB President Jennifer Pearce.
REALTORS® reported 5,607 GTA home sales through TRREB’s MLS® System in February 2024 – an increase of 17.9 per cent compared to February 2023. Even after accounting for the leap year effect, sales were up by 12.3 per cent year- over-year. New listings were up by an even greater annual rate than sales in February, pointing to increased choice for buyers. On a seasonally adjusted month-over-month basis, February sales were lower following two consecutive monthly increases while new listings were flat. Monthly figures can be somewhat volatile, especially when the market is approaching a transition point.
Read the full report on TRREB website!
The following data is a comparison between February 2024 and February 2023 numbers, and is current as of March 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – February 2024 TRREB, Toronto Market Report Part 1
Download Printable Version – February 2024 TRREB, Toronto Market Report Part 2
INFOGRAPHICS: January 2024 TRREB Toronto Market Reports
GTA REALTORS® Release January Stats
Home sales were up in January 2024 in comparison to January 2023. This annual increase came as some homebuyers started to benefit from lower borrowing costs associated with fixed rate mortgage products. New listings were also up year-over-year but by a lesser annual rate compared to sales. The resulting tighter market conditions when compared to the same period a year earlier, potentially points toward renewed price growth as we move into the spring market.
“We had a positive start to 2024. The Bank of Canada expects the rate of inflation to recede as we move through the year. This would support lower interest rates which would bolster home buyers’ confidence to move back into the market. First-time buyers currently facing high average rents would benefit from lower mortgage rates, making the move to homeownership more affordable,” said TRREB President Jennifer Pearce.
There were 4,223 sales reported through TRREB’s MLS® System in January 2024 – an increase of more than one-third compared to January 2022. The number of new listings was also up year-over-year but by a lesser annual rate of approximately six per cent. Stronger sales growth relative to listings suggests buyers experienced tighter market conditions compared to a year ago.
Read the full report on TRREB website!
The following data is a comparison between January 2024 and January 2023 numbers, and is current as of February 2024. For last month’s numbers, check out our previous infographic!
Or follow this link for all our TREB / TRREB Infographics!
Download Printable Version – January 2024 TRREB, Toronto Market Report Part 1
Download Printable Version – January 2024 TRREB, Toronto Market Report Part 2
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