Category Market Reports

The Greater Toronto Area, like other real estate markets across the country, has seen a steep decline in sales activity over the last two years, with resale units down 38% in 2022 and a further 12% in 2023. Through the third quarter of 2024, sales activity remains muted, with units sold down 5% compared to the first nine months of 2023.

After a strong spring market last year, rate hikes in June and July pushed buyers back to the sidelines, with inventory nearly doubling during the the second half of 2023. Through the third quarter of 2024, London inventory continues to grow as buyers wait for further rate cuts, now at 5 months of resale supply.

Windsor & Essex County, like other real estate markets across the country, saw a significant decline in sales activity over the past two years, with resale units down 25% in 2022 and a further 16% in 2023. Despite the slowdown in total sales and higher inventory levels, average prices are up 5% from a year ago.

An opinion piece based on historical transaction data from each of Ontario’s real estate boards. Ontario is the largest and fastest-growing province in Canada, representing almost half of our national population and expected to surpass...