In October 2023, the Greater Toronto Area (GTA) housing market faced ongoing challenges of affordability and uncertainty. Home sales dipped by 5.8% compared to last year, but selling prices continued to rise.

REALTORS® reported 4,646 GTA home sales, reflecting a slowdown compared to October 2022. New listings saw a notable increase from last year but remained modest compared to the 10-year average for October.

Despite the fluctuations, the October 2023 MLS® Home Price Index Composite benchmark and average selling price both showed year-over-year growth, with a 1.4% and 3.5% increase, respectively.

The GTA housing market remains dynamic and resilient, with prices holding strong above the cyclical lows of early 2023. ️

Are you wondering what this means for the value of your home?

Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.

Yours in real estate,

Bolton & Clements Real Estate Group