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Toronto and West GTA Market Real Estate Market Update – Sept 2023

Oct 26, 2023 | Market News

𝐍𝐄𝐖𝐒𝐅𝐋𝐀𝐒𝐇! Here are the real estate market stats you need to know for September 2022 vs. 2023 home sales in Toronto, Mississauga, Oakville, Burlington 📢

In our day to day real estate activity we are indeed experiencing balanced conditions that favour the Buyer, however this is on a case by case scenario as some neighbourhoods currently have a lot more product/selection on the market than others. Generally speaking, a turn key (renovated) property is going to be the most appealing in today’s market, and/or those with distinctive property features or lot size.

Please note that in September 2022 the Bank of Canada target overnight rate was at 3.25%. Today it’s at 5%. Therefore this should be a subjective consideration when reviewing the year/year figures.

𝗛𝗲𝗿𝗲 𝗮𝗿𝗲 𝗼𝘂𝗿 𝗻𝗼𝘁𝗮𝗯𝗹𝗲 𝘁𝗮𝗸𝗲 𝗮𝘄𝗮𝘆’𝘀 𝗳𝗿𝗼𝗺 𝘁𝗵𝗲 𝗦𝗲𝗽𝘁𝗲𝗺𝗯𝗲𝗿 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗮𝗰𝘁𝗶𝘃𝗶𝘁𝘆 𝗮𝗻𝗱 𝗵𝗼𝘄 𝗶𝘁 𝗰𝗼𝗺𝗽𝗮𝗿𝗲𝘀 𝗺𝗼𝗻𝘁𝗵 𝗼𝘃𝗲𝗿 𝗺𝗼𝗻𝘁𝗵 𝘄𝗶𝘁𝗵 𝗔𝘂𝗴𝘂𝘀𝘁𝟮𝟬𝟮𝟯 📑

◼️ Toronto freehold detached homes up $90,000 month over month and 7% year/year. All other home type values flat to August 2023, and slightly down in price year/year with the exception of semi’s up 5% over 2022.

◼️ Mississauga detached homes down $125,000 month over month. Semi-detached, freehold and condo townhouses up $40,000 – $70,000. Condo apartments flat. All home categories up as compared to year/year.

◼️ Oakville freehold detached homes flat month over month, however up 6.6% year/year. All other home types pretty much consistent with August 2023, except for condo apartment which saw a decline in the average price by $75,000 and down 8.8% over last year.

◼️ Burlington detached homes down $70,000 month over month and down 5.4% year/year. All other home types flat on a month over month and year/year basis. Condo apartments the exception – prices flat as compared to August however down 13.6% over last year. It’s a great time to invest in a Burlington condo whether as an end user or as a rental property.

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 by completing the form below, or give us a call anytime at 647-293-3785.

Toronto Real Estate Market Update September 2023 Mississauga Real Estate Market Update September 2023 Oakville Real Estate Market Update September 2023 Burlington Real Estate Market Update September 2023

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