July 2023 Greater Toronto Area Market Statistics
In July, the GTA (Greater Toronto Area) housing market saw a significant increase in active listings, reaching 15,371 properties listed for sale. This is the highest number of active listings in the past year and only the third month since January 2021 that active listings have exceeded 15,000. Additionally, there were 13,712 newly active listed properties in July, marking the fourth consecutive month with 11,000 or more new listings arriving on the market. The increase in inventory was good news for buyers who had been eagerly waiting for more options. As a result, properties were selling at 102% of their list price, indicating a strong market. The average sales price for homes sold in July was $1,118,374, showing a pullback of $63,755 compared to the previous month. However, when compared to the sales price from July 2022, the values had risen by $43,620.
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