Real Estate Market in Review – July 2023: In July, we saw the traditional summer slowdown in the Toronto market, with sales down -33.4% and new listings down -11.6% from the previous month. Meanwhile, sales were up +2.9% and new listings were up by +16.5% from last year, representing a reduction in the supply crunch. Year-over-year prices in the City remained somewhat flat for semis (down by -0.9%), and condo apartments (up +1.3%), however prices were higher by +8.3% detached homes. Also of note in July, detached homes averaged just 15 days on the market vs the overall average of 24 days across home types.
Thinking of making a move? Every transaction brings a unique set of circumstances and challenges when it comes to Toronto real estate. To achieve your financial and lifestyle goals, it’s essential to consider the data on key factors such as home type and neighbourhood. Find out where you stand, and plan for what’s next. Get in touch with me to ensure you are able to access the opportunities and results you’re looking for.
Here are the numbers for July:
