2024 Real Estate Overview

The GTA real estate market in 2024 presented a mixed picture compared to 2023.

GTA Overview
In 2024, the average GTA home price dipped by 1% to $1.12M, with homes staying on the market longer (27 days on average) and a 16% increase in new listings.

Toronto Big Picture
Toronto saw a 2% rise in average home prices, though homes took longer to sell (28 days on average), and supply grew by 10%.

Condos in Toronto
Condo prices in Toronto dropped by 1%, with days on the market rising to 31 and supply increasing by 18%.

Detached Homes in Toronto
Detached home prices remained steady at just under $1.72M, though selling times increased to 22 days, and supply rose by 14%.

Other Areas in the GTA
Burlington, Oakville, and Mississauga saw price gains of 1–3%, while Vaughan, Markham, Ajax, and Brampton experienced declines of 2–5%. Most areas saw higher supply and longer selling times.

A recovery is possible to start this spring, but it hinges on supply leveling with demand. Excess supply and relatively low demand may limit significant price increases in the short term.

Stay Informed
For insights tailored to your specific market segment and location, call or text us at 416-877-2711.

In the meantime, visit www.inbw.ca/smartistics/ for detailed real estate statistics by segment—whether condos, houses, city, or suburb. Stay ahead with smart data!

Видео 2024 Real Estate Overview канала In Black & White Real Estate Team