GTA Market Report · Vol. 08 / 2026GTA Real Estate Market Watch, August 2026 — Supply Tightens Further Across York Region & TorontoBy Gagan Gill, REALTOR® with Royal Canadian
October 2024 GTA Real Estate Market Update: Key Highlights
Dated: November 11 2024
Views: 71
As fall continues, the Greater Toronto Area (GTA) real estate market shows increased activity and stable pricing. Here’s an overview of the latest October 2024 data, prioritizing the most important statistics compared to October 2023.
Average Selling Price
- $1,135,215
- This reflects a 1.1% increase from October 2023’s average price of $1,123,390, showing steady market demand.
Home Sales
- 6,658 units sold
- A significant 44.4% increase from October 2023 (4,611 units sold), highlighting strong buyer interest, likely spurred by favorable interest rates.
- Breakdown by property type:
- Detached: 3,139
- Semi-Detached: 612
- Townhouse: 1,123
- Condo: 1,722
New Listings
- 15,328 new listings
- This is a 4.3% increase from October 2023’s 14,700 new listings, providing more options for buyers as we progress into the season.
Sales-to-New-Listings Ratio
- 43% for October 2024
- An increase from October 2023’s 31%, indicating that the pace of sales is high relative to new listings, creating a more competitive environment for buyers.
Average Prices by Property Type (Total GTA)
- Detached: $1,462,838
- Semi-Detached: $1,108,376
- Townhouse: $920,201
- Condo: $694,038
Trends and Insights
- Surge in Sales: The 44.4% year-over-year increase in home sales indicates heightened buyer activity, likely influenced by recent interest rate cuts.
- Steady Price Growth: With a 1.1% increase in the average selling price, the market remains balanced, benefiting both buyers and sellers.
- Higher Inventory: A 4.3% increase in new listings offers more choices, although the higher sales-to-new-listings ratio suggests that demand is absorbing new inventory quickly.
Market Analysis
The October 2024 GTA real estate market is marked by rising sales, stable prices, and increased inventory. These conditions create opportunities for both buyers and sellers. As we approach the year-end, understanding these trends can help you make well-informed real estate decisions.
For a detailed breakdown and more insights, visit our market update page.
Gagan Gill
Realtor
📞 647-527-9635
💻 Gagangillrealestate.com
Royal Canadian Realty
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Gagan Gill
I’m Gagan Gill, a Realtor® with Royal Canadian Realty, helping first-time home buyers, move-up families, and sellers make confident real estate decisions across the Greater Toronto Area&mdas....
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Toronto Real Estate Board (TRREB); All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
