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By The Numbers 

The Toronto Real Estate Boards statistics year over year for the month of March. 

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7,114

TREB Sales

April 2024 


7,487

TREB Sales 

April 2023

$1,156,167

TREB Average Price April 2024


$1,152,519

TREB Average Price April 2023


April Numbers 2024

  • Number of Sales 2024
    7,114
  • Number of Sales 2023
    7,487
  • Number of New Listing 2024
    16,941
  • Number of New Listings 2023
    11,509
  • Number of Active Listing 2024
    18,088
  • Number of Active Listings 2023
    10,373
  • Average Price 2024
    $1,156,167
  • Average Price 2023
    $1,152,519
  • Average Days on the Market (DOM) 2024
    19 Days
  • Average Days on the Market (DOM) 2023
    17 Days

TREB Market Summary

April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year. 

Greater Toronto Area (GTA) REALTORS® reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLS® System in April 2024 – down by five percent compared to April 2023. New listings were up by 47.2 percent over the same period. On a seasonally adjusted monthly basis, sales edged lower while new listings were up compared to March. 

“Listings were up markedly in April in comparison to last year and last month. Many homeowners are anticipating an increase in demand for ownership housing as we move through the spring. While sales are expected to pick up, many would-be home buyers are likely waiting for the Bank of Canada to begin cutting its policy rate before purchasing a home,” said TRREB President Jennifer Pearce.

 The MLS® Home Price Index (HPI) Composite benchmark was down by less than one percent percent year-over-year. The average selling price was up by 0.3 percent to $1,156,167. On a seasonally adjusted month-over-month basis, the MLS® HPI Composite was up by 0.4 percent and the average selling price was up by 1.5 percent compared to March. 

“Generally speaking, buyers are benefitting from ample choice in the GTA resale market in April. As a result, there was little movement in selling prices compared to last year. Looking forward, the expectation is that lower borrowing costs will prompt tighter market conditions in the months to come, which will result in renewed price growth, especially as we move into 2025,” said TRREB Chief Market Analyst Jason Mercer. “

All levels of government have announced plans and stated that they are committed to improving affordability and choice for residents. However, more work is needed on alignment to achieve these goals, whether we’re talking about bringing enough housing online to account for future population growth or finding the right balance between government spending and combatting inflation. We can’t have policies in opposition. Housing policy alignment is key to achieving sustained, tangible results,” said TRREB CEO John DiMichele.

Breaking Down The Numbers

Sales Numbers, average price  percentage changes over the same time last year.

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Detached

$1,516,070 | 1.8%

3,175 | -7.2% 

Townhouse

$940,839| 0.3%

1,229| 0.7%

Semi Det. 

$1,139,929 | 0.3%

620 | -1.0%

Condo Apt.

$728,067 | 0.6%

2,013| -6.5%

Number of Sales

Year-Over-Year Percent Change

  • 416 - Detached
    750 | -1.2%
  • 905 - Detached
    2,425 | -9.0%
  • 416 - Semi Detached
    240 | 3.4%
  • 905 - Semi Detached
    380 | -3.6%
  • 416 - Townhouse
    261 | -1.5%
  • 905 - Townhouse
    968 | 1.4%
  • 416 - Condos
    1,309 | -9.5%
  • 905 - Condos
    704 | -0.4%

Average Price

Year-Over-Year Percent Change

  • 416 - Detached
    $1,822,244 | 2.2%
  • 905 - Detached
    $1,421,377 | 1.2% 
  • 416 - Semi Detached
    $1,365,061 | 2.9% 
  • 905 - Semi Detached
    $997,740 | -2.6% 
  • 416 - Townhouse
    $1,010,632 | -3.9%
  • 905 - Townhouse
    $933,448 | -3.5% 
  • 416 - Condo
    $766,917 | 2.0%
  • 905 - Condo
    $655,830 | -1.7%

Economic Indicators

  • Real GDP Growth | Q4 - 2023
    Up | 1.0%
  • Toronto Employment Growth | March 2024
    Up | 1.1%.
  • Inflation Rate (Yr/Yr CPI Growth) | March 2024
    Up | 2.9%
  • Toronto Unemployment Rate | March 2024
    Up | 7.5%
  • Bank of Canada Overnight Rate | April 2024
    Up | 5.0%
  • Prime Rate | April 2024
    Up | 7.2%
  • Mortgage Rates March 2024 (1yr/3Yr|5Yr) 
    7.84% | 6.99% | 6.84% 
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