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Monthly Market Update

Khoa Le
Sep 11 2 minutes read

Several factors played a significant role in shaping the real estate landscape in August 2023. These include higher borrowing costs, economic uncertainty, and decisions made by the Bank of Canada. Additionally, the limited supply of listings in the market had a profound impact.

Compared to August 2022, there was a noticeable decline in home sales, with a 5.2% decrease, bringing the total to 5,294 sales. However, this was not surprising given the unique circumstances of the market. On a positive note, new listings increased by 16.2% year-over-year, offering some relief in terms of supply. Despite these fluctuations, the average selling price remained relatively stable.

Our monthly market update showcases everything you need to know about local real estate trends over the last month. 

August Market Update for Greater Toronto

12,296

New Listings

15,497 

Active Listings

5,294

Closed Sales


Homes Sold

100%

Sale-to-List Price


 

$1,082,496 

Average Sales Price

2.9

Months of Supply

28

Average Days on Market

Curious about how your home's value has changed?

We will gladly prepare a Comparative Market Analysis for you so that you are armed with the most current information.

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