GTA REALTORS Release September 2023 Stats
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by John Siarkas
- October 8, 2023
- Buyers, Investors, Sellers
- 0
GTA REALTORS Release September 2023 StatisticsGTA Real Estate Market Update by Toronto Real Estate Board |
| In September 2023, Greater Toronto Area (GTA) home sales saw a decline of 7.1% compared to the same month last year, with 4,642 homes sold. Ground-oriented homes, such as semi-detached houses and townhouses, experienced a more significant drop in sales. Despite a higher supply of listings, the average selling price increased by three percent year-over-year, reaching over $700,000 for condo apartments in Toronto. The MLS® Home Price Index (HPI) Composite benchmark rose by 2.4% year-over-year. High borrowing costs, inflation, and economic uncertainties continue to impact the market, but a more balanced market in the summer and fall allowed some buyers increased negotiating power. TRREB emphasized the need for aligned housing and taxation policies across various levels of government to address the ongoing housing crisis. |
