Real estate Market Report

(GTA) Housing Market - April 2023

Wednesday May 17th, 2023


Report Summary - Greater Toronto Area (GTA) Housing Market - April 2023:

  • Sales: There were 7,531 sales in April 2023, a 5.2% decrease compared to April 2022.
  • New Listings: New listings were down by 38.3% year-over-year in April 2023.
  • Competition: With fewer listings and increased demand, there was more competition between buyers.
  • Selling Prices: The average selling price in the GTA was $1,153,269 in April 2023, a 7.8% decrease compared to April 2022.
  • Price Increase: The MLS® Home Price Index (HPI) Composite Benchmark was down by 12.1% year-over-year, but the benchmark price increased compared to the previous month.
  • Market Outlook: TRREB President mentioned a gradual improvement in sales and average selling prices. The issue lies in meeting the demand with sufficient supply.
  • Affordability Concerns: Increased competition is once again highlighting the lack of listings and its impact on affordability.
  • Government Intervention: TRREB CEO emphasized the need for governments to make tough choices, reduce tax burdens, and provide more value for tax dollars.


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