Royal LePage Market Stats
April 2023 Greater Toronto Area Market Statistics
The real estate market in the Greater Toronto Area is experiencing a surge in demand that is not being met by the limited inventory available. This has led to intense competition amongst buyers, resulting in properties selling quickly and often above the asking price. As a result, the average sale price of homes has increased across all market segments.
The average home sale price in April reaching an impressive $1,153,269, representing an 11% growth of $114,601 from the recent market low recorded in January. One of the main drivers of this price surge is the remarkably low inventory levels observed so far this year, as evidenced by the total inventory of 10,373 properties in April, which is down 21% year-over-year and a striking 33% lower than the ten-year April average of 15,421 active listings.
