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
Toronto Real Estate Market Update - December 2023
Dated: January 4 2024
Views: 539
The Toronto real estate market continues to evolve, and as your trusted real estate expert, I'm here to provide you with the latest insights from the December 2023 MarketWatch report.
Average Selling Price
December 2023 saw a notable increase in the average selling price across various property types:
- Detached homes: $1,414,323
- Semi-detached homes: $1,027,432
- Townhouses: $912,403
- Condos: $682,525
This marks a 3.3% increase from December 2022, indicating a steady growth in property values in the GTA.
Home Sales
Home sales have shown a significant uptick:
- Total sales: 3,444, an 11.5% increase from December 2022.
- The breakdown includes 1,521 detached, 324 semi-detached, 623 townhouses, and 944 condos.
New Listings and Sales-to-New-Listings Ratio
- New listings saw a decrease, with 3,886 new properties, 6.6% less than the previous year.
- The sales-to-new-listings ratio was 89%, a substantial increase from 74% in December 2022, indicating a seller's market.
Conclusion
The Toronto real estate market in December 2023 shows a dynamic landscape with rising property values and increased demand. The higher sales-to-new-listings ratio suggests a competitive market, especially for desirable properties. Whether you're looking to buy or sell, understanding these trends is key to making informed decisions.
For personalized advice and more in-depth analysis, feel free to contact me. Let's discuss how these trends can impact your real estate goals in the Greater Toronto Area.
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
