Eugene Palermo

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Toronto Market Report Infographics

Wednesday, March 6, 2024 3:36:52 PM UTC
INFOGRAPHICS: February 2024 TRREB Toronto Market Reports
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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

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INFOGRAPHICS: January 2024 TRREB Toronto Market Reports
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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

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INFOGRAPHICS: December 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release December and Year-End 2023 Stats

While the overall demand for housing remained buoyed by record immigration in 2023, more of this demand was pointed at the rental market. The number of Greater Toronto Area (GTA) home sales in 2023 came in at less than 70,000 due to affordability issues brought about by high mortgage rates.

“High borrowing costs coupled with unrealistic federal mortgage qualification standards resulted in an unaffordable home ownership market for many households in 2023. With that said, relief seems to be on the horizon. Borrowing costs are expected to trend lower in 2024. Lower mortgage rates coupled with a relatively resilient economy should see a rebound in home sales this year,” said new Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.

There were 65,982 home sales reported through TRREB’s MLS® System in 2023 – a 12.1 per cent dip compared to 2022. Despite an uptick during the spring and summer, the number of new listings also declined in 2023. The trend for listings has been largely flat-to-down over the past decade, which is problematic in the face of a steadily growing population. On a seasonally adjusted monthly basis, sales increased compared to November, while new listings declined for the third straight month.

Read the full report on TRREB website!


The following data is a comparison between December 2023 and December 2022 numbers, and is current as of January 2024. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – December 2023 TRREB, Toronto Market Report Part 1

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INFOGRAPHICS: November 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release November Stats

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.

“Inflation and elevated borrowing costs have taken their toll on affordability. This has been no more apparent than in the interest rate-sensitive housing market. However, it does appear relief is on the horizon. Bond yields, which underpin fixed rate mortgages have been trending lower and an increasing number of forecasters are anticipating Bank of Canada rate cuts in the first half of 2024. Lower rates will help alleviate affordability issues for existing homeowners and those looking to enter the market,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.

GTA REALTORS® reported 4,236 sales through TRREB’s MLS® System in November 2023 – a six per cent decline compared to November 2022. Over the same period, the number of new listings was up by 16.5 per cent. On a seasonally adjusted monthly basis, sales edged up compared to October 2023, while new listings were down by 5.5 per cent.

Read the full report on TRREB website!


The following data is a comparison between November 2023 and November 2022 numbers, and is current as of December 2023. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – November 2023 TRREB, Toronto Market Report Part 1

Download Printable Version – November 2023 TRREB, Toronto Market Report Part 2


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INFOGRAPHICS: October 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release October Stats

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.

“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.

REALTORS® reported 4,646 GTA home sales through TRREB’s MLS® System in October 2023 – down 5.8 per cent compared to October 2022. On a month-over-month seasonally-adjusted basis, sales were also down in comparison to September.

Read the full report on TRREB website!


The following data is a comparison between October 2023 and October 2022 numbers, and is current as of November 2023. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – October 2023 TRREB, Toronto Market Report Part 1

Download Printable Version – October 2023 TRREB, Toronto Market Report Part 2

TRREB Infographics October 2023 TRREB Infographics October 2023 Page 2

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INFOGRAPHICS: September 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release September Stats

The impact of high borrowing costs, high inflation, uncertainty surrounding future Bank of Canada decisions and slower economic growth continued to weigh on Greater Toronto Area (GTA) home sales in September. However, despite the market being better-supplied with listings, the average selling price was up year-over-year.

“The short and medium-term outlooks for the GTA housing market are very different. In the short term, the consensus view is that borrowing costs will remain elevated until mid-2024, after which they will start to trend lower. This suggests that we should start to see a marked uptick in demand for ownership housing in the second half of next year, as lower rates and record population growth spur an increase in buyers,” said TRREB President Paul Baron.

REALTORS® reported 4,642 home sales through TRREB’s MLS® System in September 2023 – down 7.1 per cent compared to September 2022. The year-over-year dip in sales was more pronounced for ground-oriented homes, particularly semi-detached houses and townhouses. On a month-over-month seasonally-adjusted basis, sales were also down slightly.

Read the full report on TRREB website!


The following data is a comparison between September 2023 and September 2022 numbers, and is current as of October 2023. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – September 2023 TRREB, Toronto Market Report Part 1

Download Printable Version – September 2023 TRREB, Toronto Market Report Part 2


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INFOGRAPHICS: August 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release August Stats

Higher borrowing costs, continued uncertainty about the economy and Bank of Canada decision making, and the constrained supply of listings resulted in fewer home sales in August 2023 compared to August 2022. The average selling price remained virtually unchanged over the same period. On a seasonally adjusted monthly basis, sales and average price edged lower.
“Looking forward, we know there will be solid demand for housing – both ownership and rental – in the Greater Toronto Area and broader Greater Golden Horseshoe. Record immigration levels alone will assure this. In the short term, we will likely continue to see some volatility in terms of sales and home prices, as buyers and sellers wait for more certainty on the direction of borrowing costs and the overall economy,” said TRREB President Paul Baron.

Greater Toronto Area REALTORS® reported 5,294 sales in August 2023 – down by 5.2 per cent compared to August 2022. New listings were up by 16.2 per cent year-over-over, providing some relief on the supply front, but year-to-date listings are still down substantially compared to the same period last year. Seasonally adjusted sales were down slightly by one per cent month-over-month compared to July 2023, while new listings were up slightly by 1.3 per cent compared to July.

“More balanced market conditions this summer compared to the tighter spring market resulted in selling prices hovering at last year’s levels and dipping slightly compared to July. As interest rates continued to increase in May, after a pause in the winter and early spring, many buyers have had to adjust their offers in order to qualify for higher monthly payments. Not all sellers have chosen to take lower than expected selling prices, resulting in fewer sales,” said TRREB Chief Market Analyst Jason Mercer.

Read the full report on TRREB website!


The following data is a comparison between August 2023 and August 2022 numbers, and is current as of September 2023. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – August 2023 TRREB, Toronto Market Report Part 1

Download Printable Version – August 2023 TRREB, Toronto Market Report Part 2


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INFOGRAPHICS: July 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release July Stats

Greater Toronto Area (GTA) home sales, new listings and home prices were up in July 2023 in comparison to July 2022. On a seasonally adjusted basis, the market experienced more balance in July compared to June, with sales trending lower while new listings were up.

“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.

GTA REALTORS® reported 5,250 sales through TRREB’s MLS® System in July 2023, representing a 7.8 per cent increase compared to July 2022. Over the same period, new listings were also up, but by a greater annual rate of 11.5 per cent. The MLS® Home Price Index Composite benchmark was up by 1.3 per cent year- over-year. The average selling price was also up by 4.2 per cent to $1,118,374 over the same timeframe.

Read the full report on TRREB website!


The following data is a comparison between July 2023 and July 2022 numbers, and is current as of August 2023. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – July 2023 TRREB, Toronto Market Report Part 1

Download Printable Version – July 2023 TRREB, Toronto Market Report Part 2


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INFOGRAPHICS: June 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release June Stats

Home sales and the average selling price in the Greater Toronto Area (GTA) in June 2023 remained above last year’s levels. Seasonally adjusted sales dipped on a month-over-month basis. The seasonally adjusted average selling price and the MLS® Home Price Index (HPI) Composite benchmark were up compared to the previous month.

“The demand for ownership housing is stronger than last year, despite higher borrowing costs. With this said, home sales were hampered last month by uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates. Furthermore, a persistent lack of inventory likely sidelined some willing buyers because they couldn’t find a home meeting their needs. Simply put, you can’t buy what is not available,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.

GTA REALTORS® reported 7,481 sales through TRREB’s MLS® System in June 2023 – up 16.5 per cent compared to June 2022. The number of listings was down by three per cent over the same period.

Read the full report on TRREB website!


The following data is a comparison between June 2023 and June 2022 numbers, and is current as of July 2023. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – June 2023 TRREB, Toronto Market Report Part 1

Download Printable Version – June 2023 TRREB, Toronto Market Report Part 2


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INFOGRAPHICS: May 2023 TRREB Toronto Market Reports
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GTA REALTORS® Release May Stats

The Greater Toronto Area (GTA) housing market continued to improve from a sales perspective in May 2023. Unfortunately, the supply of homes for sale did not keep up with the demand for ownership housing. Sales as a share of new listings were up dramatically compared to a year ago. This is a clear signal that competition between buyers increased substantially compared to last year, resulting in the average selling price reaching almost $1.2 million last month.

“Despite the fact that we have seen positive policy direction over the last couple of years, governments have been failing on the housing supply front for some time. Recent polling from Ipsos found that City of Toronto residents gave Council a failing grade on housing affordability and pointed to lack of supply as the major issue. This issue is not unique to Toronto. It persists throughout the Greater Golden Horseshoe. If we don’t quickly see housing supply catch up to population growth, the economic development of our region will be hampered as people and businesses look elsewhere to live and invest,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.

GTA REALTORS® reported 9,012 sales through TRREB’s MLS® System in May 2023 – a 24.7 per cent increase compared to May 2022. Conversely, new listings were down by 18.7 per cent over the same period. On a month-over-month seasonally adjusted basis, sales were up by 5.2 per cent compared to April 2023.

“The demand for ownership housing has picked up markedly in recent months. Many homebuyers have recalibrated their housing needs in the face of higher borrowing costs and are moving back into the market. In addition, strong rent growth and record population growth on the back of immigration has also supported increased home sales. The supply of listings hasn’t kept up with sales, so we have seen upward pressure on selling prices during the spring,” said TRREB Chief Market Analyst Jason Mercer.

Read the full report on TRREB website!


The following data is a comparison between May 2023 and May 2022 numbers, and is current as of June 2023. For last month’s numbers, check out our previous infographic!

Or follow this link for all our TREB / TRREB Infographics!

Download Printable Version – May 2023 TRREB, Toronto Market Report Part 1

Download Printable Version – May 2023 TRREB, Toronto Market Report Part 2


Custom real estate infographics published by myRealPage.com

Read Full Article...