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Monthly Market Update for Greater Toronto Area - October 2023

Khoa Le
Nov 6 1 minutes read

In October 2023, GTA home sales dipped by 5.8% compared to the previous year due to high borrowing costs and interest rate uncertainty. However, new listings increased, though not to the levels seen in the past decade. 

Demand for housing remains strong, driven by population growth and a resilient economy, particularly in the rental market. Average selling prices and the MLS® Home Price Index Composite benchmark rose by 3.5% and 1.4% year-over-year, but still fall short of their early 2022 peak.  

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

October 2023 Market Update for Greater Toronto Area

14,397

New Listings

19,540

Active Listings

4,646

Closed Sales


Homes Sold

99%

Sale-to-List Price


$1,125,928

Average Sales Price

4.2

Months of Supply

32

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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