This Month in Real Estate | October 2023
Stats
Stats
The market is on the move once again. October 2023 saw a 5.8% decrease in sales across all housing styles compared to October 2022. New listings were up in comparison to October 2022 but were slightly down month-over-month compared to September 2023. The average selling price across all housing styles followed the same trend as new listings. Up year-over-year, but down month-over-month.
Here's how the market looked across the GTA last month:
| Sales | Sale Price | DOM | Average Sale to List Price | |
|---|---|---|---|---|
| Detached | 175 | $1,564,286 | 17 | 97% |
| Semi-Detached | 47 | $980,912 | 22 | 100% |
|
Condo Townhomes |
75 | $791,564 | 22 | 99% |
|
Condo Apartments |
102 | $626,630 | 22 | 98% |
| Sales | Sale Price | DOM | Average Sale to List Price | |
|---|---|---|---|---|
| Detached | 73 | $1,784,427 | 20 | 98% |
| Semi-Detached | 3 | $1,078,296 | 15 | 95% |
|
Condo Townhomes |
10 | $757,100 | 25 | 97% |
|
Condo Apartments |
30 | $811,372 | 33 | 98% |
|
Freehold Townhomes |
23 | $1,252,830 | 19 | 99% |
| Sales | Sale Price | DOM | Average Sale to List Price | |
|---|---|---|---|---|
| Detached | 73 | $1,455,498 | 24 | 97% |
| Semi-Detached | 5 | $963,500 | 19 | 99% |
|
Condo Townhomes |
23 | $845,843 | 22 | 98% |
|
Condo Apartments |
29 | $625,759 | 40 | 97% |
| Sales | Sale Price | DOM | Average Sale to List Price | |
|---|---|---|---|---|
| Detached | 182 | $1,146,658 | 20 | 98% |
| Semi-Detached | 69 | $916,339 | 20 | 100% |
|
Condo Townhomes |
27 | $712,537 | 30 | 100% |
|
Condo Apartments |
14 | $519,000 | 32 | 98% |
|
Freehold Townhomes |
44 | $849,889 | 22 | 99% |
| Sales | Sale Price | DOM | Average Sale to List Price | |
|---|---|---|---|---|
| Detached | 186 | $1,438,834 | 18 | 103% |
| Semi-Detached | 59 | $1,080,554 | 13 | 103% |
|
Condo Townhomes |
49 | $843,178 | 29 | 100% |
|
Condo Apartments |
196 | $666,221 | 28 | 99% |
“Record population growth and a relatively resilient GTA economy have kept the overall demand for housing strong. However, more of that demand has been pointed at the rental market, as high borrowing costs and uncertainty on the direction of interest rates has seen many would-be home buyers remain on the sidelines in the short term. When mortgage rates start trending lower, home sales will pick up quickly,” said TRREB President Paul Baron.
*DOM = Days on Market
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