The October 2024 Greater Toronto Area (GTA) real estate market showed strong year-over-year growth, driven by a surge in home sales and increased buyer activity due to the Bank of Canada’s interest rate cuts. With GTA REALTORS® reporting a 44.4% rise in sales compared to October 2023 and a slight uptick in average home prices, market conditions have tightened, creating a more competitive landscape. New listings increased modestly, providing choices for buyers but keeping price growth moderate. Explore how improved affordability, economic trends, and policy measures are shaping the GTA housing and condominium markets.

Canada’s housing market continues to balance the effects of population growth and declining mortgage rates against a slowing economy, rising geopolitical tensions, and wavering consumer confidence, resulting in a luxury market that remains steady, but reflected limited growth in the third quarter of 2024.

Greater Toronto Area (GTA) home sales surged in September 2024, marking an 8.5% increase from the previous year as buyers capitalized on favorable market conditions. The Toronto Regional Real Estate Board (TRREB) reports changes in mortgage lending guidelines and lower borrowing costs have sparked renewed interest in homeownership, especially among first-time buyers. With new listings up 10.5%, buyers now have more negotiating power, resulting in moderate price adjustments. Discover key insights into the GTA’s evolving real estate market, including economic indicators, interest rates, and market recovery trends.

The Toronto Regional Real Estate Board (TRREB) welcomes the changes to mortgage rules announced by Deputy Prime Minister and Minister of Finance Chrystia Freeland.

TORONTO, ONTARIO, September 5, 2024 – Greater Toronto Area (GTA) home sales were down on a year-over-year basis in August 2024. New listings were up slightly over the same period.

July 4, 2024 – June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB).

The 2024 Mid-Year Luxury Outlook℠ report is Sotheby’s International Realty’s first-of-its-kind mid-year report, delving into the pivotal, forward-looking issues shaping luxury residential property markets worldwide.

Discover the latest insights on the June 2024 home sales in the Greater Toronto Area (GTA) with our comprehensive blog post. According to the Toronto Regional Real Estate Board (TRREB), home sales dipped by 16.4% compared to June 2023, despite a Bank of Canada rate cut.

Discover the latest insights from the Toronto real estate market in May 2024. This comprehensive market analysis reveals key trends, including a significant decline in home sales, increased new listings, and shifting price dynamics. Learn how potential mortgage rate reductions over the next 18 months could spur market activity, particularly among first-time buyers. Understand the crucial role of government coordination in addressing housing deficits and the importance of timely infrastructure projects like the Eglinton Crosstown LRT. Stay informed with our in-depth report on Toronto's evolving real estate landscape.

Canada’s luxury real estate market eased into spring with modest sales gains across key metropolitan cities, as the dynamic between prospective home sellers and buyers improved, and pricing expectations continued to come into alignment.

March 2024 home sales reported through TRREB’s MLS® System were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level.

Explore the latest trends in the Greater Toronto Area (GTA) real estate market with our comprehensive analysis of the February 2024 real estate market. Discover how population growth, a resilient economy, and changing interest rate expectations are shaping home sales, prices, and new listings. Learn how buyers are adapting to elevated mortgage rates and how the market is responding to increased demand for housing. Stay informed about the impact of unaffordable housing on mental health an the initiatives to promote homeownership in the GTA. This article provides valuable insights for investors, homebuyers, and real estate professionals looking to navigate the dynamic Toronto housing market.

TRREB has released their 2024 Market Outlook and 2023 Year in Review report.

The Ontario Government has set an ambitious goal of adding 1.5 million homes to the province’s housing stock by 2031. This goal reflects the urgent need to solve Ontario’s housing affordability crisis – one ultimately driven by too few homes, for too many people.

Canada’s metropolitan luxury real estate market evolved over the course of 2023 as buyers emerged from the sidelines with newly altered housing preferences and sharpened priorities, as well as negotiating power that steadily increased as the year progressed.

The Sotheby’s International Realty® 2024 Luxury Outlook report overviews industry trends in high-end residential markets around the world and highlights what you can expect in the year ahead.

In 2023, the Greater Toronto Area (GTA) real estate market navigated through a phase of recalibration, influenced by a blend of high borrowing costs and stringent mortgage regulations. Despite a buoyant demand driven by record immigration, the market's tilt was more towards rentals than home ownership. As we usher in 2024, early indicators suggest a potential resurgence in home sales, contingent on anticipated easing of borrowing costs and a resilient economy.

The report, "Market Watch November 2023," presents a comprehensive analysis of the Greater Toronto Area's real estate market, reflecting trends impacted by economic conditions and borrowing costs. As of November 2023, a year-over-year decrease in home sales (-6%) contrasts with an increase in new listings (+16.5%). High inflation and borrowing rates have tempered market activity, maintaining flat year-over-year selling prices. The report anticipates potential relief with forecasted Bank of Canada rate cuts in 2024, which could improve affordability and stimulate market growth. The detailed statistical breakdown covers various housing types, prices, and regional specifics, offering valuable insights for strategic real estate investment and market forecasting.

The Toronto real estate market in October 2023 paints a picture of resilience amid challenges. Despite a 5.8% dip in sales compared to last year, home prices in the GTA have held steady, signalling a robust undercurrent in the market.

As the country’s housing market continued to wrestle with the challenges of elevated mortgage rates, uneven economic performance and intense geopolitical turbulence, reviving luxury single family home sales in the third quarter of the year revealed the relative resilience and adaptability of luxury real estate buyers, as well as Canadians’ unwavering desire to attain home ownership.