Market Watch

April 2023 GTA Real Estate Market Update: A Closer Look at the Numbers

Friday May 05th, 2023

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April 2023 GTA Real Estate Market Update: A Closer Look at the Numbers

 

Introduction:

 

The Greater Toronto Area (GTA) real estate market witnessed a decrease in sales and new listings in April 2023 compared to April 2022. GTA REALTORS® reported 7,531 sales through TRREB's MLS® System in April 2023, a 5.2% decrease compared to April 2022. Additionally, new listings were down by 38.3% year-over-year. Despite this, the average selling price increased compared to March 2023. In this blog post, we will dive deeper into the data and analyze the current state of the GTA real estate market.

 

Market Overview:

Market Overview

 

Sales: 7,531 units, down by 5.2% compared to April 2022

New Listings: 11,364 units, down by 38.3% compared to April 2022

Active Listings: 10,373 units, down by 20.8% compared to April 2022

Average Selling Price: $1,153,269, down by 7.8% compared to April 2022

Average Days on Market: 17, up by 54.5% compared to April 2022

Average Days to Sell: 24, up by 71.4% compared to April 2022

 

Sales and Average Price by Major Home Type:

 

In April 2023, the average selling prices for the major home types were as follows:

Detached: $1,489,258

Semi-Detached: $1,135,599

Townhouse: $986,121

Condo Apartment: $724,118

ear-over-year percentage change in sales and average price

Year-over-year percentage change in sales and average price:

 

Detached: -3.1% sales, -8.3% price

Semi-Detached: -20.8% sales, -9.8% price

Townhouse: -9.8% sales, -3.2% price

Condo Apartment: 0.0% sales, -8.0% price

March 2023 vs. April 2023 Comparison:

March 2023 vs. April 2023 Comparison:

 

Between March 2023 and April 2023, the average selling price increased by 4.03%. The price increase for individual categories was 1.41% for Detached, 4.38% for Semis, 5.39% for Townhouses, and 2.92% for Condos.

 

Conclusion:

 

The GTA real estate market in April 2023 experienced a decrease in sales and new listings compared to April 2022. However, the average selling price increased compared to March 2023, indicating potential signs of market stabilization. As we continue to navigate through the ever-changing real estate landscape, it's crucial for buyers and sellers to stay informed and make educated decisions based on the latest market data.

 

Click here to see the full Report from TRREB

 

This report was prepared by.

Sami Chowdhury

*** Source: TRREB Market Watch***

 

Are you considering purchasing your dream home or looking to invest in a property? Or perhaps you're thinking of selling your current one? Allow me to guide you smoothly through the entire process, from start to finish, ensuring a hassle-free experience. I invite you to reach out for a complimentary, no-obligation consultation. Your journey to success begins with a single conversation!

 

 

Sami Chowdhury


Sami Chowdhury

Broker

RE/MAX Realtron Realty Inc., Brokerage

885 Progress Avenue, Suite 209, Toronto, Ontario, M1H 3G3

samichy@torontobase.com

Direct: (647) 725-0606

Office: (416) 289-3333

Fax:  (416) 289-4535

www.torontobase.com

 


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