“Home sales and selling prices appear to have found some support in recent months. This coupled with the Bank of Canada announcement that interest rate hikes are likely on hold for the foreseeable future will prompt some buyers to move off the sidelines in the coming months. Record population growth and tight labour market conditions will continue to support housing demand moving forward,” said Toronto Regional Real Estate Board (TRREB) President Paul Baron.
Looking to buy or sell a home in Toronto? Average prices in January were as follows:
➕Detached $1,486,124 [-21% vs. 2022]
➕Semi-detached $1,150,506 [-22% vs. 2022]
➕Townhouse $981,187 [-9% vs. 2022]
➕Condo $711,171 [-7% vs. 2022]
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Data presented is for City of Toronto Only. Source: TRREB.