Toronto Real Estate Market Report Oct 2023

Toronto october market report

Summary of October 2023 Toronto Real Estate Market Report

  • Affordability, uncertainty affected GTA home buyers in Oct 2023; sales lower YoY
  • Selling prices higher than last year
  • Population growth, resilient GTA economy maintained housing demand
  • Demand shifted to rental market due to high borrowing costs, interest rate uncertainty
  • TRREB reported 4,646 GTA home sales in Oct 2023, down 5.8% YoY
  • Oct 2023 new listings up from Oct 2022’s 12-year low but modestly compared to 10-year average
  • New listings slightly lower MoM vs. Sept 2023 on seasonally adjusted basis
  • Oct 2023 MLS® Home Price Index Composite benchmark and average selling price up YoY by 1.4% and 3.5% respectively
  • MLS® HPI Composite benchmark lower MoM vs. Sept 2023; average selling price similar level
  • Average selling price above last year’s level in Oct; below record peak of early 2022
  • High borrowing costs impacted uninsured mortgage holders at term end
  • Uninsured mortgage holders forced to qualify at rates near eight percent for competitive rates


view full report on TREBB website