2023 Year in Review: A Look Back

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Toronto & GTA

Sales, prices, and new listings results in 2023 showed decreases when compared to 2022:

  • Home sales dropped 12.1% from 75,047
  • New listings in 2023 were down 8.6% to 142,233
  • The average price of $1,126,604 for all home types decreased 5.4% from $1,190,749.

2024 Market OUTLOOK : What’s Next?

The direction of mortgage rates is key to where the housing market is headed in the Greater Toronto Area (GTA). TRREB is forecasting that:

  • Home sales will reach the 77,000 mark in 2024, marking a substantial improvement compared to the less than 66,000 transactions in 2023.
  • The projected average selling price will move closer to $1.17 million this year. This would be the second highest mark on record but still below the 2022 peak.

Caledon

Q1: January – March 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$913,00010120
Semi-Detached$1,041,00010416
3 Bedroom$1,353,0009354
4 Bedroom$1,745,00098133

Q2: April – June 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$970,00010314
Semi-Detached$1,099,00011412
3 Bedroom$1,589,0009727
4 Bedroom$1,814,0009923

Q3: July – September 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$964,00010015
Semi-Detached$1,076,00010618
3 Bedroom$1,540,0009632
4 Bedroom$1,751,0009827

Q4: October – December 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$915,0009830
Semi-Detached$922,0001004
3 Bedroom$1,561,0009750
4 Bedroom$1,670,0009528

Bolton

Q1: January – March 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$953,0001019
Semi-Detached$953,0009422
3 Bedroom$1,072,0009621
4 Bedroom$1,272,0003737

Q2: April – June 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$958,00010612
Semi-Detached$1,009,0001059
3 Bedroom$1,156,00010113
4 Bedroom$1,355,00010020

Q3: July – September 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$965,0009925
Semi-Detached$968,0009728
3 Bedroom$1,146,0009813
4 Bedroom$1,342,0009918

Q4: October – December 2023

Property TypeAverage Selling PriceList-to-Sale %Average Days on Market
Townhomes$880,00010029
Semi-Detached$876,0009821
3 Bedroom$1,080,0009729
4 Bedroom$1,315,0009823

Muskoka

Q1: January – March 2023

Property TypeNumber of SalesAverage Selling PriceList-to-Sale %Average Days on Market
Non-Waterfront126$669,7249936
Waterfront60$1,218,4129455

Q2: April – June 2023

Property TypeNumber of SalesAverage Selling PriceList-to-Sale %Average Days on Market
Non-Waterfront235$722,9189837
Waterfront192$1,760,1269739

Q3: July – September 2023

Property TypeNumber of SalesAverage Selling PriceList-to-Sale %Average Days on Market
Non-Waterfront197$695,9759739
Waterfront181$1,514,6619550

Q4: October – December 2023

Property TypeNumber of SalesAverage Selling PriceList-to-Sale %Average Days on Market
Non-Waterfront113$666,2449647
Waterfront85$1,515,6059566

Have you been thinking about moving? Do you wonder if now is the right time to buy or sell? Wondering what your home is worth today with the shifting real estate market? Perhaps you’ve been searching for that one-of-a-kind property, but just can’t find it?

We can help answer your questions, provide you with a free no-obligation Home Valuation and help you find that perfect property.

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