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Toronto and West GTA Market Real Estate Market Update – Jan 2024

Feb 23, 2024 | Market News

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for January 2024 vs. 2023 home sales in Toronto, Mississauga, Oakville, Burlington 📢

January 2024 sold activity and average home prices were a mixed bag of results within the areas in our report. Interestingly, certain home categories that were up year over year, may be down in average price as compared to December 2023. In most cases however the sales volume is up. What that means is that buyers are out, and more homes are selling.

We are still in more of a buyer’s market, edging to balanced in most areas, however some neighbourhoods are back to multiple offers. The market is unpredictable and should be considered on a more micro level.

𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝗼𝘂𝗿 𝗻𝗼𝘁𝗮𝗯𝗹𝗲 𝘁𝗮𝗸𝗲 𝗮𝘄𝗮𝘆’𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗝𝗮𝗻𝘂𝗮𝗿𝘆 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗮𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗶𝘁 𝗰𝗼𝗺𝗽𝗮𝗿𝗲𝘀 𝗺𝗼𝗻𝘁𝗵 𝗼𝘃𝗲𝗿 𝗺𝗼𝗻𝘁𝗵 𝘄𝗶𝘁𝗵 𝗗𝗲𝗰𝗲𝗺𝗯𝗲𝗿 𝟮𝟬𝟮𝟯 📑

◼️ Toronto detached homes average price up $300,000 over December 2023 and with almost 7 x more homes sold which is excellent. Semi-detached up over last year, and month over month. Freehold townhouses down almost 23% over last year however up 300k over December.

◼️ Mississauga detached homes average price up $200,000 over December 2023 and up almost 16% over last year.  Slight dip in freehold townhouses year/year although average price up over December. Condo apartments down 5% over last year

◼️ Oakville detached homes up 12% over last year, still over the $2m mark however down 200k to December. Biggest drop in Oakville condos, down 26% over last year and average price flat to December.

◼️ Opportunity knocks in Burlington as a more affordable area to get into a detached home. Average price down almost 10% to last year, and down $50k to January – coming in at just under $1.2m as the average detached home price in January. Where Oakville condos were down, Burlington condo values up 23% over last year.

Be sure to view the full details of each area within our update. Swipe on each image to view.⁣⁣⁣

𝗪𝗮𝗻𝘁 𝘁𝗼 𝗸𝗻𝗼𝘄 𝘄𝗵𝗮𝘁’𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴 𝗶𝗻 𝘆𝗼𝘂𝗿 𝗻𝗲𝗶𝗴𝗵𝗯𝗼𝘂𝗿𝗵𝗼𝗼𝗱? Obtain a personalized market analysis by booking a complimentary Buyer or Seller consultation with us via the form below.

Toronto Real Estate Market Update January 2024 Mississagua Real Estate Market Update January 2024 Oakville Real Estate Market Update January 2024 Burlington Real Estate Market Update January 2024

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