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. Sales activity remained sluggish in 2024, with units sold only up 2.5% year-over-year.
After inventory nearly doubled during the the second half of 2023, London inventory remains elevated at just under 5 months of resale supply. At year-end, the median selling price was up 2% year-over-year while sales activity in 2024 was up 9%.
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. While sales activity remained sluggish in 2024, the median price is up 12% year-over-year, with strong gains for detached homes.
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...
