RSS

July 2026 Etobicoke Real Estate Market Update: Sales and Prices in W7

Etobicoke Real Estate Market Update – July 2026

If you are thinking about buying or selling a home in Etobicoke, understanding the latest local real estate statistics can help you make a more informed decision.

The July 2026 real estate market statistics for the W7 areas of Sunnylea, Stonegate-Queensway, The Queensway and Humber Bay show a quieter market compared with July 2025. Both the number of sales and new listings declined, while the average sale price also moved lower.

July 2026 Real Estate Statistics at a Glance

In July 2026, there were 16 sales, compared with 23 sales in July 2025. This represents a 30.43% decrease in the number of sales.

The average sale price was $1,029,500, down from $1,122,410 in July 2025. That represents an 8.28% decrease in the average sale price.

There were also 46 new listings in July 2026, compared with 67 in July 2025 — a 31.34% decrease in new listings.

Properties spent an average of 22 days on the market, compared with 23 days in July 2025. This is a modest 4.35% decrease in days on market.

July 2026 Sales by Major Home Type

Looking more closely at the types of homes that sold in the area:

  • Detached homes: 8 sales with an average price of $1,306,639

  • Semi-detached homes: No sales reported

  • Condo townhomes: No sales reported

  • Condo apartments: 5 sales with an average price of $528,978

  • Freehold townhomes: 3 sales with an average price of $1,124,667

The statistics demonstrate the diversity of the Etobicoke real estate market, from detached homes and freehold townhomes to condominium apartments.

What Does This Mean for Etobicoke Home Buyers?

For buyers, the July numbers may provide some encouraging opportunities.

With fewer sales and fewer new listings compared with the same period last year, buyers may have more time to carefully evaluate properties rather than feeling pressured to make an immediate decision.

The average sale price of $1,029,500 across the market was also lower than in July 2025. However, average prices can be influenced by the mix of properties that sell during a particular month, so buyers should look at comparable properties and recent sales in their specific neighbourhood and property type.

If you are looking for a condo in Humber Bay, a townhouse in The Queensway or a detached home in Sunnylea or Stonegate-Queensway, local market information is particularly important.

What Does This Mean for Etobicoke Home Sellers?

For homeowners considering selling, the July 2026 statistics highlight the importance of pricing a property correctly from the beginning.

With sales down more than 30% from July 2025, sellers may be competing for a smaller pool of active buyers. A well-presented property, accurate pricing, strong marketing and an effective selling strategy can make a significant difference.

The good news is that properties were taking slightly less time to sell on average, with 22 days on market in July 2026 compared with 23 days last year.

Every property is different, however. Location, condition, renovations, size, parking, outdoor space, maintenance fees and the overall appeal of a home can all affect how quickly it sells and the price it achieves.

Etobicoke Neighbourhoods Covered in This Market Update

These July 2026 statistics cover several popular W7 Etobicoke communities, including:

Sunnylea – A desirable residential community known for its established streets, homes and proximity to parks and the Humber River.

Stonegate-Queensway – A popular west-end Etobicoke neighbourhood offering a mixture of detached homes, townhomes, condominiums and convenient access to transportation and amenities.

The Queensway – An established Etobicoke community with a variety of housing options, shopping, restaurants and easy access to major transportation routes.

Humber Bay – A sought-after waterfront community known for its condominium buildings, Lake Ontario views, waterfront trails, parks and proximity to downtown Toronto.

Thinking About Buying or Selling in Etobicoke?

Real estate statistics provide a useful snapshot of the market, but your specific property and neighbourhood matter.

Whether you are considering selling a detached home in Sunnylea, purchasing a condo in Humber Bay, looking for a townhome in Stonegate-Queensway or exploring properties along The Queensway, understanding recent comparable sales can help you determine a realistic price and strategy.

If you are considering a move, I would be happy to provide a current market evaluation and discuss what the latest Etobicoke real estate trends could mean for your property.

Contact Maureen Reed, Sales Representative

Direct: 416-895-4883
Office: 416-391-3232

Your Etobicoke Real Estate Resource

For local expertise and up-to-date information about Etobicoke real estate, Humber Bay condos, Sunnylea homes, Stonegate-Queensway properties and The Queensway real estate, contact Maureen Reed.

Market statistics are based on the July 2026 information shown above. Monthly averages can fluctuate depending on the number and type of properties sold.


Read

July 2026 W10 Etobicoke Real Estate Market Update

July 2026 W10 Etobicoke Real Estate Market | Sales & Home Prices

The July 2026 W10 Etobicoke real estate market saw a slight decrease in the number of home sales compared with July 2025, while the average sale price also declined. At the same time, new listings increased and properties spent fewer days on the market.

The July 2026 statistics recorded 43 home sales in W10, compared with 44 sales in July 2025. The average sale price was $770,823, down from $846,424 the previous year.

There were 116 new listings in July 2026, compared with 104 in July 2025. The average property spent 32 days on the market, improving from 36 days in July 2025.

This market update covers several W10 Etobicoke communities, including Clairville, Humberwood, Smithfield, Thistletown, Rexdale-Kipling, West Humber and The Elms.


July 2026 W10 Market Highlights

  • 43 home sales — down 2.27% from July 2025

  • $770,823 average sale price — down 8.93%

  • 116 new listings — up 11.54%

  • 32 average days on market — down from 36 days, an improvement of 11.11%

The July numbers show a W10 market with more new inventory than the same time last year. Although the number of sales was relatively stable, the average sale price declined year over year.

At the same time, homes sold in an average of 32 days compared with 36 days in July 2025, indicating faster turnover despite the increase in available listings.


July 2026 W10 Sales by Property Type

The July 2026 statistics show the following sales and average prices by major home type:

  • Detached: 27 sales | Average price: $866,237

  • Semi-Detached: 5 sales | Average price: $780,200

  • Condo Townhome: 5 sales | Average price: $579,600

  • Condo Apartment: 5 sales | Average price: $452,600

  • Freehold Townhome: 1 sale | Average price: $695,000

Detached homes accounted for the largest share of W10 sales in July, with 27 transactions and an average sale price of $866,237.

Condo apartments had the lowest average price among the major property types shown, at $452,600, while condo townhomes averaged $579,600.


W10 Etobicoke Neighbourhoods Covered

This July 2026 W10 real estate market report covers:

  • Clairville

  • Humberwood

  • Smithfield

  • Thistletown

  • Rexdale-Kipling

  • West Humber

  • The Elms

These neighbourhoods offer a range of housing options, from detached and semi-detached homes to townhomes and condominium apartments.


What the July 2026 Market Means for Sellers

For homeowners thinking about selling in W10 Etobicoke, the July statistics highlight the importance of understanding current competition and pricing your property appropriately.

There were 116 new listings in July 2026, an increase of 11.54% from the previous year. With more properties entering the market, sellers need to make sure their homes stand out through competitive pricing, strong presentation and effective marketing.

The good news for sellers is that the average days on market improved from 36 days to 32 days year over year.

A personalized home evaluation based on recent sales in your specific W10 neighbourhood can provide a more meaningful indication of your property's potential market value than relying on the overall W10 average.


What the July 2026 Market Means for Buyers

For buyers, the increase in new listings provides more properties to consider across W10 Etobicoke.

The average price across the market was $770,823, although prices varied substantially by property type. Buyers looking for more affordable options may find opportunities among condo apartments and condo townhomes, while detached properties remain a significant part of the local market.

Because market conditions can vary considerably between Clairville, Humberwood, Smithfield, Thistletown, Rexdale-Kipling, West Humber and The Elms, buyers should compare properties based on neighbourhood, home type, condition and recent comparable sales.


Understanding the W10 Etobicoke Real Estate Market

Broad Toronto real estate statistics don't always tell the complete story of what is happening in a specific Etobicoke community.

Local statistics such as sales volume, average price, new listings and days on market can give homeowners and buyers a better understanding of market conditions in W10.

Whether you're considering a detached home in Humberwood, a townhouse in Thistletown or a condominium apartment in another W10 community, looking at the most recent comparable sales can help you make a more informed real estate decision.


Thinking About Buying or Selling in W10 Etobicoke?

If you're considering buying or selling a home in Clairville, Humberwood, Smithfield, Thistletown, Rexdale-Kipling, West Humber or The Elms, a local market analysis can help you understand what your property may be worth and how current market conditions could affect your plans.

Contact Maureen Reed for a personalized W10 Etobicoke market analysis, home evaluation or information about properties currently available for sale.

Direct: 416-895-4883
Office: 416-391-3232


Read

July 2026 Toronto W9 Real Estate Market Update

July 2026 W9 Etobicoke Real Estate Market Update | Home Prices & Sales

The July 2026 W9 Etobicoke real estate market saw an increase in home sales compared with July 2025, while the average sale price moved lower. This latest market update covers Martin Grove Gardens, Willowridge, Richview Park, Kingsview Village, Richmond Gardens, The Westway, Royal York Gardens and Humber Heights-Westmount.

According to the July 2026 market statistics, 34 homes sold in W9, compared with 31 sales in July 2025. The average sale price was $906,518, compared with $961,835 a year earlier.

There were 54 new listings during July 2026, down from 63 in July 2025. Properties also took longer to sell, with the average number of days on market increasing to 35 days, compared with 29 days last year.


For buyers and sellers in Etobicoke West, these numbers provide an important snapshot of current local market conditions.

July 2026 W9 Market Highlights

  • 34 sales — up 9.68% from July 2025

  • $906,518 average sale price — down 6.10%

  • 54 new listings — down 14.29%

  • 35 average days on market — up 20.69%

The combination of increased sales and fewer new listings is an important trend to watch. At the same time, the increase in average days on market suggests that properties may require more careful pricing and marketing to attract today's buyers.


July 2026 Sales by Property Type

The July 2026 statistics show activity across several major home types:

  • Detached: 17 sales | Average price: $1,194,765

  • Semi-Detached: 2 sales | Average price: $794,950

  • Condo Townhome: 5 sales | Average price: $825,000

  • Condo Apartment: 8 sales | Average price: $457,463

  • Freehold Townhome: 1 sale | Average price: $761,000

Detached homes accounted for the largest number of sales, while condo apartments remained the lower-priced segment among the major property types shown in the report.


W9 Etobicoke Neighbourhoods Covered

This July 2026 market report covers:

  • Martin Grove Gardens

  • Willowridge

  • Richview Park

  • Kingsview Village

  • Richmond Gardens

  • The Westway

  • Royal York Gardens

  • Humber Heights-Westmount

These communities form part of Toronto's W9 real estate area. TRREB community reports also group W09 into communities including Humber Heights, Kingsview Village-The Westway and Willowridge-Martingrove-Richview. (TRREB)


What the July 2026 Numbers Mean for Sellers

For homeowners considering selling in W9, the July statistics highlight the importance of accurate pricing, strong presentation and effective marketing.

With the average days on market increasing from 29 to 35 days year over year, sellers should not assume that every property will sell immediately. A well-prepared home combined with a realistic pricing strategy can help attract serious buyers.

Detached homes remain particularly important in this market, accounting for 17 of the 34 total sales recorded in July.

A neighbourhood-specific home evaluation can provide a much more useful indication of value than relying solely on the overall W9 average.


What the July 2026 Numbers Mean for Buyers

For buyers, the decline in the overall average price compared with July 2025 may create opportunities to explore different types of properties across W9.

Buyers can choose from detached homes, semi-detached properties, townhomes and condo apartments, with significant differences in average prices between property types.

Understanding the difference between neighbourhood-level and property-type statistics is especially important when determining whether a particular home is fairly priced.


Why Local W9 Market Statistics Matter

Real estate conditions can vary significantly from one Etobicoke neighbourhood to another. A detached home in Martin Grove Gardens may have a very different market profile from a condo apartment near The Westway or Kingsview Village.

That is why buyers and sellers should look beyond broad Toronto real estate statistics and examine local W9 sales, property types, prices and days on market.

Local market reports can help homeowners understand current competition and help buyers make more informed decisions when evaluating available properties.


Thinking About Buying or Selling in W9 Etobicoke?

Whether you're considering selling a detached home in Martin Grove Gardens, buying a condo in Kingsview Village, or exploring properties throughout W9, understanding the latest local market statistics is an important first step.

Contact Maureen Reed for a personalized W9 Etobicoke market analysis, home evaluation or information about current properties for sale.

Direct: 416-895-4883
Office: 416-391-3232


Read

July 2026 Etobicoke Real Estate Market Statistics | W8

Etobicoke Real Estate Market Snapshot — July 2026

The July 2026 Etobicoke real estate market showed a modest increase in home sales compared with July 2025, while the average home price declined. Across the W8 areas covered in this market report, there were 119 sales in July 2026, compared with 116 sales the previous year.

The average sale price was $1,086,767, down 4.93% from July 2025. There were 241 new listings, compared with 315 in July 2025, while properties spent an average of 33 days on the market, compared with 35 days last year.

These statistics provide useful insight for homeowners, buyers and sellers looking to understand current Etobicoke real estate market conditions.

July 2026 Market Highlights

  • 119 home sales, up 2.59% from July 2025

  • $1,086,767 average sale price, down 4.93%

  • 241 new listings, down 23.49%

  • 33 average days on market, compared with 35 days in July 2025

Sales by Major Home Type

The July 2026 statistics show the following sales and average prices by major property type:

  • Detached: 50 sales | Average price: $1,711,272

  • Semi-Detached: 1 sale | Average price: $1,010,000

  • Condo Townhome: 6 sales | Average price: $727,333

  • Condo Apartment: 58 sales | Average price: $575,564

  • Freehold Townhome: 3 sales | Average price: $1,531,667

Neighbourhoods Covered

This July 2026 market report covers real estate activity in:

  • Centennial Park

  • Markland Wood

  • Eringate

  • Eastonville

  • Islington City Centre

  • Etobicoke City Centre

  • West Deane Park

  • Princess-Rosethorn

  • Edenbridge-Humber Valley

  • Lambton Mills

  • The Kingsway

  • W8

Thinking About Buying or Selling in Etobicoke?

Understanding the latest market statistics can help you make a more informed real estate decision. If you are considering buying or selling a home in Etobicoke, W8 or surrounding neighbourhoods, contact a local real estate professional for a personalized market analysis and current property information.

Read

July 2026 Real Estate Market Update – South Etobicoke

The July 2026 real estate market in Alderwood, Humber Bay, Long Branch, Mimico and New Toronto (W6) showed some interesting year-over-year changes. There were 88 sales, compared with 100 in July 2025, while the average sale price increased 5.46% to $939,558, up from $888,276.

Buyers had 221 new listings to choose from in July 2026, compared with 272 the previous year. Properties also sold somewhat faster, with the average days on market decreasing to 31 days, compared with 35 days in July 2025.

By property type, 49 condo apartments sold at an average price of $755,641, while 8 condo townhomes averaged $840,625. Detached homes recorded 25 sales with an average price of $1,277,992, and semi-detached homes averaged $1,209,980.

Overall, the South Etobicoke real estate market continues to offer opportunities for both buyers and sellers. If you’re considering buying or selling a home or condo in Mimico, Long Branch, Alderwood, Humber Bay or New Toronto, understanding the latest local market trends can help you make a more informed decision.

Read

New property listed in Toronto W06

I have listed a new property at 806 2267 Lake Shore Boulevard W in Toronto. See details here

Spacious 2-bedroom suite offering 1,215 sq. ft. in the highly sought-after Marina del Rey waterfront community, with spectacular views of Lake Ontario and the marina. The den has been thoughtfully incorporated into the second bedroom, creating a larger and more functional space. This bright residence offers an excellent opportunity to renovate and customize to your own taste while enjoying an exceptional waterfront lifestyle. Residents enjoy resort-style amenities in this well-maintained building, including 24-hour concierge, indoor pool, fitness centre, tennis courts and more. The Malibu Club has recently completed a full renovation, adding to the exceptional lifestyle this community offers. Ideally located just steps from the waterfront, parks, walking trails, cafés, restaurants and transit, with convenient access to downtown Toronto. Includes one parking space and one locker.

Read

Open House. Open House on Saturday, August 8, 2026 2:00PM - 4:00PM

Please visit our Open House at 806 2267 Lake Shore Boulevard W in Toronto. See details here

Open House on Saturday, August 8, 2026 2:00PM - 4:00PM

Spacious 2-bedroom suite offering 1,215 sq. ft. in the highly sought-after Marina del Rey waterfront community, with spectacular views of Lake Ontario and the marina. The den has been thoughtfully incorporated into the second bedroom, creating a larger and more functional space. This bright residence offers an excellent opportunity to renovate and customize to your own taste while enjoying an exceptional waterfront lifestyle. Residents enjoy resort-style amenities in this well-maintained building, including 24-hour concierge, indoor pool, fitness centre, tennis courts and more. The Malibu Club has recently completed a full renovation, adding to the exceptional lifestyle this community offers. Ideally located just steps from the waterfront, parks, walking trails, cafés, restaurants and transit, with convenient access to downtown Toronto. Includes one parking space and one locker.

Read

Open House. Open House on Sunday, August 9, 2026 2:00PM - 4:00PM

Please visit our Open House at 806 2267 Lake Shore Boulevard W in Toronto. See details here

Open House on Sunday, August 9, 2026 2:00PM - 4:00PM

Spacious 2-bedroom suite offering 1,215 sq. ft. in the highly sought-after Marina del Rey waterfront community, with spectacular views of Lake Ontario and the marina. The den has been thoughtfully incorporated into the second bedroom, creating a larger and more functional space. This bright residence offers an excellent opportunity to renovate and customize to your own taste while enjoying an exceptional waterfront lifestyle. Residents enjoy resort-style amenities in this well-maintained building, including 24-hour concierge, indoor pool, fitness centre, tennis courts and more. The Malibu Club has recently completed a full renovation, adding to the exceptional lifestyle this community offers. Ideally located just steps from the waterfront, parks, walking trails, cafés, restaurants and transit, with convenient access to downtown Toronto. Includes one parking space and one locker.

Read

New property listed in Toronto W06

I have listed a new property at 312 2285 Lake Shore Boulevard W in Toronto. See details here

This spacious one-bedroom plus den suite offers an exceptional layout designed for comfortable everyday living and entertaining. Featuring beautiful living and dining areas filled with natural light, while the versatile den provides the perfect space for home office, guest room, or reading nook. Enjoy a well-appointed kitchen, generous primary bedroom, in-suite laundry. Maintenance Fees Include: hydro, water, heating, air conditioning, Rogers Xfinity Cable TV and Rogers high-speed internet. Grand Harbour offers outstanding resort-style amenities, including 24-hour concierge, indoor pool, fitness centre, sauna, squash court, guest suites, party room, beautifully landscaped grounds, and ample visitor parking. Ideally located steps to the waterfront, Martin Goodman Trail, parks, marinas, restaurants, and TTC, with easy access to downtown Toronto, the Gardiner and major highways. Experience luxury waterfront living in one of Etobicoke's most sought-after condominium communities.

Read

June 2026 W6 Etobicoke Real Estate Market Update | Alderwood, Mimico, Long Branch & Humber Bay

The June 2026 real estate market in Alderwood, Humber Bay, Long Branch, Mimico, and New Toronto (W6) reflected a shift toward a more balanced market. While sales and prices declined compared to last year, buyers benefited from increased negotiating opportunities, and well-presented homes continued to attract serious interest.

June 2026 Market Highlights

  • 78 homes sold, a 5.13% decrease compared to June 2025.

  • The average sale price was $796,624, down 24.4% year over year.

  • 242 new listings entered the market, a 23.6% decrease from last June.

  • Homes spent an average of 33 days on the market, up from 26 days in June 2025.

What This Means for Buyers

With home prices adjusting and properties spending more time on the market, buyers have greater flexibility and more room to negotiate. Whether you're searching for a waterfront condo in Humber Bay, a family home in Alderwood, or a townhome in Mimico, current market conditions may offer excellent value.

What This Means for Sellers

Although the market has softened compared to last year, motivated buyers remain active. The key to a successful sale is strategic pricing, professional marketing, and expert guidance. Homes that are move-in ready and competitively priced continue to stand out.

Home Sales by Property Type

June 2026 sales included:

  • Detached Homes: 24 sales with an average price of $1,081,417

  • Condo Townhomes: 5 sales averaging $773,000

  • Condo Apartments: 45 sales averaging $632,820

  • Freehold Townhomes: 3 sales averaging $1,133,333

Condominium apartments remained the most active segment of the W6 market, reflecting continued demand for affordable homeownership and investment opportunities in Toronto's west-end waterfront communities.

Looking to Buy or Sell in Etobicoke?

Understanding local market trends is essential when making real estate decisions. Whether you're buying your first home, selling your current property, investing, or planning your next move, having an experienced local REALTOR® can help you navigate today's market with confidence.

Maureen Reed has proudly served Etobicoke and the Greater Toronto Area for over 20 years, providing trusted advice, personalized service, and proven results. Contact Maureen today for a complimentary home evaluation or to discuss your real estate goals.

Read

A Look ahead at GTA HOUSING, Infrastructure & Sustainability

Provided by the Toronto Regional Real Estate Board

Welcome!
READ ON-LINE

A Look Ahead: Real Estate Moving Forward

With the real estate market constantly fluctuating, it's hard to predict what the future holds. But by taking a look at some of the major trends in today’s real estate market, we can make an educated guess as to what real estate will look like moving forward. Here’s a quick overview of what you can expect in the coming years.

Climate Change
One of the biggest factors that will shape the future of real estate is climate change. Sea levels are rising, wildfires are becoming more frequent and more destructive, and extreme weather events are becoming increasingly common. These changes will have a direct impact on where people want to live (or don't want to live) and how much they're willing to pay for property in those areas. In addition, buyers may start demanding that homes be built or upgraded with features such as solar panels and wind turbines that allow them to generate their own power and conserve energy.

Demographics
Another factor that will shape the future of real estate is demographics. As baby boomers continue to retire, many will be looking to downsize from their larger family homes into smaller properties that require less upkeep and maintenance. At the same time, millennials are starting families of their own and will likely be looking for larger homes with amenities such as open floor plans and modern appliances. This shift in demand could lead to an increase in new construction projects designed specifically for these two different age groups.

Technology
Finally, technology is playing a role in shaping how people buy and sell real estate —and it's only going to become more important in the future. Buyers are using apps like Zillow and Redfin to search for properties and compare prices without ever having to visit a physical office or talk directly with an agent; sellers can list their properties online without paying any commission fees; drone photography is becoming increasingly popular for giving potential buyers a better view of properties from afar; virtual reality tours are allowing buyers to virtually walk through homes before ever setting foot inside them; automated home systems allow homeowners greater control over their environment than ever before; etc., etc.. Technology has quickly become intertwined with every step of buying or selling real estate—and this trend is only going to continue as technology advances even further over the next few years.

Conclusion:
The future looks bright for those involved in the world of real estate! From climate change impacting where people want (or don't want) to live, demographics changing what types of properties people want (or need), and technology making things easier than ever before, there's no telling how much things could change in the future - but one thing's for sure: it'll be interesting! So keep your eyes peeled over the next few years as we move towards an exciting new era in real estate!

TRREB Releases Q4 2022 Rental Market Statistics

 TORONTO, ONTARIO, January 31, 2023 - Average condominium apartment rents continued to increase by double-digit annual rates in the fourth quarter of 2022. However, while market conditions remained tight enough to support very strong rent growth, there was more balance in the rental marketplace compared to the same period a year earlier in 2021.

The number of condominium apartment rental transactions reported through the Toronto Regional Real Estate Board9s (TRREB) MLS® System was down on a year-over-year basis by 19.9 per cent in the fourth quarter of 2022. The number of rental listings was also down over the same period, but by a lesser annual rate of 11.8 per cent. The fact that the number of units leased was down by more than the number of units listed suggests that would-be renters benefitted from more choice compared to a year ago. 

"Strong population growth based on record immigration and robust job creation across a diversity of economic sectors drove rental demand in 2022.  In addition, aggressive interest rate hikes by the Bank of Canada impacted affordability for many households, prompting a shift from homeownership to rental. All of these factors will continue to support strong rental demand in 2023,"  said TRREB President Paul Baron. 

The average rent for a one-bedroom condominium apartment increased by 19 per cent to $2,503 in the forth quarter of 2022.  Over the same period, the average two-bedroom rent increased by 14.1 per cent to $3,178.

"Tight rental market conditions and strong rent increased will be the norm more often than not for the foreseeable future.  On one hand, we will continue to experience strong rental demand in the GTA based on solid fundamentals. On the other hand, the persistent supply shortage will continue to result in strong competition between would-be renters, exerting upward pressure on rents.  The solution is no secret: we need to see new policies pointed on more supply to translate into shovels in the ground for many years to come," said TRREB Chief Market Analyst Jason Mercer.











GTA REAL ESTATE MARKET STARTS THE NEW YEAR THE SAME AS IT ENDED LAST YEAR TORONTO, ONTARIO, FEBRUARY 3, 2023 

As we moved from 2022 into 2023, the Greater Toronto Area (GTA) housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022. On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year. “Home sales and selling prices appear to have found some support in recent months. This coupled with the Bank of Canada announcement that interest rate hikes are likely on hold for the foreseeable future will prompt some buyers to move off the sidelines in the coming months. Record population growth and tight labour market conditions will continue to support housing demand moving forward,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron. GTA REALTORS® reported 3,100 sales through TRREB’s MLS® System in January 2023 – in line with the December 2022 result of 3,110, but down 44.6 per cent from January 2022. The average selling price for January 2023 at $1,038,668 was slightly lower than the December 2022 result and down by 16.4 per cent compared to the January 2022 average price reported before the onset of Bank of Canada interest rate hikes. The MLS® Home Price Index (HPI) Composite Benchmark was in line with the December result, but down by 14.2 per cent compared to January 2022. “Home prices declined over the past year as homebuyers sought to mitigate the impact of substantially higher borrowing costs. While short-term borrowing costs increased again in January, negotiated medium-term mortgage rates, like the five-year fixed rate, have actually started to trend lower compared to the end of last year. The expectation is that this trend will continue, further helping with affordability as we move through 2023,” said TRREB Chief Market Analyst Jason Mercer. “All three levels of government have announced policies to enhance housing affordability over the long term, including many initiatives focussed on increasing housing supply in the ownership and rental markets. Most recently, we were encouraged to see Toronto City Council support the Mayor’s 2023 Housing Action Plan as part of the City’s overall $2 billion commitment to housing initiatives,” said TRREB CEO John DiMichele. TRREB will release its annual Market Outlook and Year in Review report on Friday, February 10, 2023.

CONDO 4th Quarter Report

Welcome!
READ ON-LINE

Residential Tenancy Agreement

Welcome!
READ ON-LINE

Deadline February 2nd, 2023

Must declare home ownership in Toronto

Otherwise this could cost you dollars - video video for complete details

Real Estate Newsletter

Full Service Real Estate

Welcome!
READ ON-LINE
This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.