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Toronto Real Estate Market Statistics and News

The Latest Real Estate Market News

Here, we gathered the latest and most important news, such as new housing laws and more. We update it monthly at the beginning of the month (usually on the 5th — 7th day):

Our real estate lawyer in Toronto answers all the calls and helps you better understand the current housing market and close any real estate transaction quickly and legally. You can also use our Toronto Land Transfer Tax Calculator to get your future LTT estimate.

November 2024 – Toronto Real Estate Market Statistics

  1. Detached houses show a significant drop in total sales, while their prices also dropped monthly, showing a 3.9% YoY change.
  2. The total number of semi-detached houses sold also dropped by 110 units, and their relatively low price of $1,077,254 does not guarantee that their sales will grow next month.
  3. The townhouse average price shows low fluctuation yearly at 0.8%, but it also significantly dropped in sales and price.
  4. Condo apartments are probably the most significant part of the new 11,592  listings, with 1,640 units sold at an average price of $689,599.

October 2024 – Toronto Real Estate Market Statistics

  1. Detached houses show 46.6% growth in the yearly change. In October 2024, their price also increased by 1.2% YoY change, resulting in $1,462,838 on average per unit.
  2. Semi-detached houses’ average price dropped significantly, resulting in a $17,627 change. This fact boosted average sales as well, 612 in October 2024 against 446 in September 2024.
  3. Townhouse prices grew along with sales. +$16,001 to average price doesn’t scare buyers away, and got townhouses +283 total sales.
  4. Condo apartments, the cheapest option with a $694,038 average price in October 2024, decreased their yearly price by -2.0% but increased in sales by 33.4%, getting 410 more sales monthly.

September 2024 – Toronto Real Estate Market Statistics

  1. New listings appear, yet prices don’t grow. Detached houses show – 1,1% in the yearly change of average price. In September 2024, it was $1,685,755 for the 416 area code and $1,333,394 for the 905 area code.  
  2. Semi-detached houses’ average price dropped as well, resulting in a 0.4% yearly change. However, average sales grew by 12.6% (446 in September 2024 and 427 in August 2024).
  3. Townhouse sales show the biggest plus 14.3% yearly. The price remains one of the most reasonable options, at $904,200.
  4. Condo apartments, the second most sold option with 1,312 in September 2024, keep the lowest price at $682,543.

August 2024 – Toronto Real Estate Market Statistics

  1. The average price of detached houses slightly dropped in monthly change by $11,857, yet total sales also decreased by 228 houses or -1% and -0.3%, respectively, in yearly change.
  2. As for semi-detached houses, their total sales went down too by 44 houses in Toronto in August 2024. YoY ratio marks significant -5.3% negative growth in total sales and 0.8% in average price.
  3. The average townhouse price of 891,892$ in August 2024 didn’t help total sales grow; they also collapsed by 67 houses (939 in July 2024 against 872 in August 2024).
  4. Condo apartments, the second most popular house type after detached houses, also experienced their worst times, with total sales and average price decreasing by 65 houses and 43,992$, respectively.

July 2024 – Toronto Real Estate Market Statistics

  1. Detached houses’ total sales dramatically dropped again by 542 houses equal to 3.3% fluctuation in the year-to-year ratio.
  2. As for semi-detached houses, their average pricing for Toronto in June 2024 was $1,102,904, in July 2024 it became $1,067,576 meaning that it also dropped for $35,328.
  3. The total townhouse sales of 939 in July 2024 marks 8.3% yearly growth.
  4. Condo apartments are the most cheap houses in listings, with average pricing of $718,698 in July 2024. However, despite their price, their total sales dropped by 38 houses.

June 2024 – Toronto Real Estate Market Statistics

  1. Detached home total average sales experienced a significant decrease in June 2024 compared to May of the same year. As seen on the chart to the right, it ran short on 250 houses. The good news is that the average YoY price dropped as well, resulting in -3,3% change;
  2. Semi-detached homes’ average price showed the most significant yearly decrease of -9.3%;
  3. Townhouses’ sales also dropped, resulting in 1,054 total average sales (-95 sales). Furthermore, their monthly average price continues to fall as well ($931,490 in June 2024, compared to $947,158  in May 2024);
  4. Condo apartments remain the cheapest option. Their falling yearly and monthly average prices benefit those who want new housing (- $2,954 monthly). However, their total sales dropped as well: 1,942 May 2024 -> 1.520 June 2024.

May 2024 – Toronto Real Estate Market Statistics

  1. Detached home sales slightly rose again (3, 238 deals agains 3, 175 deals, 63 total). However, their average price decreased by 9, 395$;
  2. As for Semi-detached homes, their -2,0% yearly average price fall can’t explain why their sales also dropped by 4 deals;
  3. Townhouses’ sales also dropped, resulting in 1,149 total sales. What is more, their yearly and monthly average prices continue to fall as well (-5,6% yearly, 2,681$ montly);
  4. Condo apartment’s YoY % average price change shows -2,4%. It can be felt on montly basis, the price fall by 2, 748$. Their yearly total sales change isn’t that optimistic and and shows a significant decrease of -24.1%.

April 2024 – Toronto Real Estate Market Statistics

  1. Maybe not that significantly, but Detached home sales rose again (+ 282 deals), and so did their price, showing 1.8% yearly growth;
  2. As for Semi-detached homes, expect to pay more for them due to the 0,3% yearly average price growth and 2.9% inflation Yr./Yr. CPI growth;
  3. Townhouses’ sales show growth as well, resulting in 1,229 total sales. Yet, their prices dropped down by -3.7% in the yearly overview;
  4. Condo apartment’s total sales show a significant decrease in total sales (-6.5%). However, year over year, the total average price grew by 0.6%, with an average price of $728,067.

March 2024 – Toronto Real Estate Market Statistics

  1. Detached homes raised in sales, from 2,495 in February 2024 to 2,893 in March 2024, but total YoY price stayed the same with 0% change;
  2. Semi-detached homes experienced a massive growth of 116 homes sold more than in the last month. Total YoY sales and price raised as well by 4.3% and 3.1%, respectively;
  3. Townhouses’ total price raised by 5,973$, which is only 0,5% in YoY statistics;
  4. Condo apartments year over year total average price continues to fall -0.5% (add -1.5% last month).

February 2024 – Toronto Real Estate Market Statistics

  1. Detached homes witnessed an average price increase from $1,350,828 in January 2024 to $1,443,612 in February 2024, marking a 6.8% rise;
  2. Semi-detached homes experienced a slight rise in average price from $1,038,303 in January 2024 to $1,123,896 in February 2024;
  3. Townhouses saw an uptick, too, climbing to $934,154 in February 2024, representing a 4.8% growth;
  4. Condo apartments also saw an increase in average price, indicating a 2.0% uptick.

January 2024 – Toronto Real Estate Market Statistics

  1. Sales of detached homes saw a significant increase in January 2024, with 1,745 units sold, up from 1,521 in December 2023, marking a 14.7% increase. This indicates a robust interest in detached homes at the start of the year;
  2. Semi-detached homes also experienced a rise in sales, reflecting a 5.9% increase;
  3. Townhouse sales witnessed a notable jump, with 765 units sold in January 2024 compared to 623 in December 2023, resulting in a 22.8% surge;
  4. The condo apartment market saw the most dramatic increase in sales, with 1,335 units sold in January 2024, up from 944 in December 2023. This represents a substantial growth of 41.4%, suggesting strong buyer interest in condo living spaces at the beginning of the new year.

December 2023 – Toronto Real Estate Market Statistics

  1. According to the real estate lawyer Toronto, buyers were active in the fading days of 2023. This can be seen in the average detached house prices. Despite its growth of more than $14,000, average sales dropped only for 360 deals;
  2. Semi-detached houses dropped in average price again. However, year-to-year change shows 1,7% growth;
  3. The average Townhouse price is seeing unexpected growth of more than $25,000 ($885,818 in November 2023 compared to $912,403 in December 2023);
  4. Luckily, the Condo apt average price fell even more, resulting in a $27,976 difference in total average prices in November 2023/December 2023.

November 2023 – Toronto Real Estate Market Statistics

  1. Greater Toronto home sales fall amid affordability challenges, but relief is forecasted. This can be clearly seen in total Detached house sales. 1,881 in November 2023 compared to the previous 2,157 in October 2023;
  2. Semi-detached houses dropped in average price to $1,060,829. However, it didn’t save their total sales, which also fell by 24 homes;
  3. Average Townhouse price became as affordable as ever ($885,818), but their total average sales dropped by almost 9% in year-to-year ratio;
  4. The condo average price suddenly spiked and became $710,501. That is probably why condo buyers are unable to evict tenants.

October 2023 – Toronto Real Estate Market Statistics

  1. There is a tiny growth in total Detached house sales compared to the previous TRREB report. However, in year-to-year change, total sales dropped by 5,7%;
  2. Semi-detached houses grew in average price by 8,647$. Their total sales also heightened by 26 homes;
  3. Despite overall prices softening, total Townhouse sales dropped by 15, according to the October 2023 TRREB report;
  4. Total average condo price fell by 1,2% in the yearly report, as average sales in October.

September 2023 – Toronto Real Estate Market Statistics

  1. Detached houses’ total sales slightly dropped again by 115 sold homes (2,264 in August 2023 compared with 2,149 in September 2023) in the monthly TRREB report.
  2. Semi-detached houses’ average pricing for Toronto in August 2023 was $1,067,980. In September 2023, it became $1,094,074, meaning it rose by $26,094.
  3. The total townhouse sales of 741 are in the penultimate place in the average major home types’ sales. However, the average price for them has risen by 4.5%.
  4. Condo apartments remain the most affordable option, with an average pricing of $707,065. However, their price also increased by $1,493 compared to the previous month.
  5. In the year-over-year summary, the quantity of new and active listings rose by 44.1% and 39.8%, respectively.

August 2023 – Toronto Real Estate Market Statistics

  1. Regarding the recent Bank of Canada (BoC) interest rate hold at 5% in September 2023, and other anti inflation policy descisions, detached houses’ total sales dramatically dropped by 12% in the year-to-year ratio. (TRREB, August 2023)
  2. As for semi-detached houses, their average pricing for Toronto in July 2023 was $1,101,876, in August 2023 it was $1,067,980 meaning that it dropped for $33,896.
  3. The total townhouse sales of 936 is in the penultimate place in the average major home types’ sales. However, the average price for them has risen by 3.9%.
  4. Condo apartments remain the most affordable option, with average pricing of $705,572. Most likely because of this fact, their average sales amounted to 1,609 in August 2023 (1,505 in July 2023).

July 2023 – Toronto Real Estate Market Statistics

  1. Detached houses saw a significant decrease in total sales, dropping from 3,377 in June 2023 to 2,378 in July 2023, a decline of 29.6%. However, the YoY change in average price for detached houses in July 2023 showed a notable increase of 4.8%, indicating continued price appreciation despite the decrease in sales volume;
  2. Semi-detached homes also experienced a decrease in sales, with total sales falling from 678 in June 2023 to 445 in July 2023, a 34.4% reduction. In contrast, the average price for semi-detached homes saw a YoY increase of 2.8% in July 2023, suggesting a continued demand for this housing type despite lower sales numbers;
  3. Townhouse sales witnessed a notable decline, decreasing from 1,233 in June 2023 to 874 in July 2023, a drop of 29.1%. Despite this, townhouses observed a 5.8% increase in YoY average price in July 2023, reflecting a robust market value;
  4. Condo apartments experienced a significant reduction in sales, with numbers declining from 2,122 in June 2023 to 1,505 in July 2023, a 29.1% decrease. However, the YoY change in average price for condo apartments in July 2023 showed a modest increase of 2.1%, indicating a sustained interest in this segment of the market.

June 2023 – Toronto Real Estate Market Statistics

  1. Detached houses experienced a slight decrease in average prices, dropping from $1,556,566 in May 2023 to $1,530,997 in June 2023, a 1.6% reduction. However, in terms of sales, there was a significant YoY increase of 13.3% in June 2023, which contrasts with the moderate YoY increase in prices observed in May 2023;
  2. Semi-detached homes saw an increase in average prices, from $1,198,185 in May 2023 to $1,214,872 in June 2023, marking a 1.4% rise. Along with this, the category showed a 7.4% increase in YoY average sales in June 2023, continuing the trend of steady growth in prices and sales volumes observed over the past months;
  3. Townhouses witnessed a decrease in average prices, moving from $1,003,152 in May 2023 to $978,842 in June 2023, a 2.4% drop. Despite this monthly decrease, townhouses experienced a significant 13.1% increase in YoY average sales in June 2023, indicating robust market demand;
  4. Condo apartments experienced a decrease in average prices, from $748,483 in May 2023 to $739,395 in June 2023, a 1.2% reduction. Notably, condo apartments saw a substantial YoY increase of 27.2% in average sales in June 2023, highlighting a strong market presence despite the recent decrease in average prices.

May 2023 – Toronto Real Estate Market Statistics

  1. Detached houses saw a substantial increase in total sales, moving from 3,448 in April 2023 to 4,049 in May 2023, a remarkable 17.4% increase. In terms of pricing, detached houses experienced a modest YoY increase of 0.6% in May 2023, indicating stable price growth despite significant sales volume changes over the months;
  2. Semi-detached homes also observed a notable increase in sales, rising from 630 in April 2023 to 787 in May 2023, which represents a 24.9% growth. However, there was a slight YoY decrease of 0.5% in average price in May 2023, contrasting with the steady price increase seen earlier in the year;
  3. Townhouse sales experienced a significant boost, increasing from 1,229 in April 2023 to 1,524 in May 2023, marking a 24.0% increase. The YoY change in average price for townhouses was positive, with a 2.5% increase in May 2023, aligning with the upward trend in sales;
  4. Condo apartments saw a healthy growth in sales, with total numbers climbing from 2,160 in April 2023 to 2,568 in May 2023, an 18.9% increase. In contrast, the YoY change in average price for condo apartments in May 2023 showed a decline of 3.0%, which is interesting given the consistent sales growth observed from the beginning of the year.

April 2023 – Toronto Real Estate Market Statistics

  1. Detached houses showed a steady increase in average price, rising from $1,468,651 in March 2023 to $1,489,258 in April 2023, a 1.4% increase. Interestingly, despite this monthly increase, there was a 3.1% decrease in YoY average sales in April 2023, contrasting with the substantial sales growth observed between February and March 2023;
  2. Semi-detached homes also witnessed an increase in average price, from $1,087,924 in March 2023 to $1,135,599 in April 2023, amounting to a 4.4% rise. However, this category experienced a notable 20.8% drop in YoY average sales in April 2023, despite the earlier observed price increases, including the 4.9% hike between January and February 2023;
  3. Townhouses saw a significant price increase, moving from an average of $935,626 in March 2023 to $986,121 in April 2023, a 5.4% increase. This is in contrast to a 9.8% decrease in YoY average sales in April 2023, a shift from the substantial sales growth seen between February and March 2023;
  4. Condo apartments experienced a moderate increase in average price, from $703,566 in March 2023 to $724,118 in April 2023, which is a 2.9% increase. Notably, the YoY average sales for condo apartments in April 2023 remained unchanged (0.0%), contrasting with the dramatic sales increase observed from February to March 2023.

March 2023 – Toronto Real Estate Market Statistics

  1. Detached houses experienced a remarkable surge in sales, with total sales more than doubling from 2,075 in February 2023 to 3,000 in March 2023. This increase is notably higher compared to the modest rise observed from December 2022 to January 2023, where sales went from 1,352 to 1,384;
  2. Semi-detached homes also saw significant growth, with sales increasing from 399 in February 2023 to 556 in March 2023. This growth rate is substantially more pronounced than the slight increase observed from December 2022 to January 2023, where sales changed minimally from 238 to 240;
  3. Townhouse sales experienced a substantial boost, jumping from 821 in February 2023 to 1,167 in March 2023. This trend contrasts with the earlier decrease observed from December 2022 (524 sales) to January 2023 (499 sales);
  4. Condo apartment sales showed a dramatic increase, rising from 1,455 in February 2023 to 2,121 in March 2023. This marked rise contrasts with the slight decrease seen previously from December 2022 (966 sales) to January 2023 (950 sales).

February 2023 – Toronto Real Estate Market Statistics

  1. The average price of detached houses in Toronto saw a significant increase, rising from $1,341,848 in January 2023 to $1,439,735 in February 2023, which represents a 7.3% increase;
  2. Semi-detached homes also experienced an increase in average prices, going from $1,019,668 in January 2023 to $1,069,266 in February 2023, indicating a 4.9% rise;
  3. Townhouses witnessed a notable price hike that surprised real estate lawyers in Toronto, with the average price escalating from $887,610 in January 2023 to $934,834 in February 2023, a 5.3% increase;
  4. Condo apartments saw a moderate increase in average prices, from $687,696 in January 2023 to $705,472 in February 2023, marking a 2.6% uptick.

January 2023 – Toronto Real Estate Market Statistics

  1. Detached houses in Toronto saw a slight increase in total sales, rising from 1,352 in December 2022 to 1,384 in January 2023, marking a 2.4% increase;
  2. Semi-detached homes experienced a marginal rise in sales, with total sales increasing from 238 in December 2022 to 240 in January 2023, reflecting a 0.8% uptick;
  3. Townhouse sales, however, experienced a decline, dropping from 524 in December 2022 to 499 in January 2023, a decrease of 4.8%;
  4. Condo apartment sales also saw a decrease, with total sales falling from 966 in December 2022 to 950 in January 2023, indicating a 1.7% reduction.
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