This Month in Real Estate | July 2023

Stats

The market is always moving! July 2023 saw a 7.8% increase in sales across all housing styles compared to July 2022. Last month across the Greater Toronto Area also experienced an 11.5% increase in new listings and a 4.2% increase in average selling price to $1,118,374.

Here's how the market looked across the GTA last month:

Mississauga Stats

	Sales	Sale Price	DOM	Average Sale to List Price
Detached	157	$1,530,510	15	100%
Semi-Detached	66	$1,057,125	13	103%
Condo Townhomes	85	$806,425	16	101%
Condo Apartments	138	$676,903	23	99%

Oakville Stats

	Sales	Sale Price	DOM	Average Sale to List Price
Detached	81	$2,101,237	20	99%
Semi-Detached	2	$1,131,000	5	103%
Condo Townhomes	26	$1,128,923	16	94%
Condo Apartments	30	$823,263	37	98%
Freehold Townhomes	39	$1,172,333	15	99%

Burlington Stats

	Sales	Sale Price	DOM	Average Sale to List Price
Detached	94	$1,531,687	16	98%
Semi-Detached	14	$1,045,607	9	104%
Condo Townhomes	39	$841,222	20	101%
Condo Apartments	39	$716,810	22	99%

Brampton Stats

	Sales	Sale Price	DOM	Average Sale to List Price
Detached	190	$1,239,909	14	100%
Semi-Detached	64	$944,373	13	103%
Condo Townhomes	28	$749,014	19	103%
Condo Apartments	26	$556,481	27	99%
Freehold Townhomes	52	$904,575	15	104%

Toronto-West Stats

	Sales	Sale Price	DOM	Average Sale to List Price
Detached	179	$1,483,704	17	103%
Semi-Detached	60	$1,096,655	11	107%
Condo Townhomes	42	$971,771	21	124%
Condo Apartments	214	$675,911	22	100%

“Home sales continued to be above last year’s levels in July, which suggests that many households have adjusted to higher borrowing costs. With that being said, it does appear that the sales momentum that we experienced earlier in the spring has stalled somewhat since the Bank of Canada restarted its rate tightening cycle in June. Compounding the impact of higher rates has been the persistent lack of listings for people to purchase compared to previous years,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.

*DOM = Days on Market