Toronto Housing Market Report
Toronto’s housing market is heating up as strong sales and a tight supply continues to push up the price of homes in the Greater Toronto Area (GTA). The average GTA home price in May 2023 was $1,196,101, a 4% jump from last month, the highest that it has been in almost a year. This comes off the back of a 23-month low in prices seen just a few months ago in January 2023. Even so, this means that Toronto’s average home price is still 1% lower compared to this same time last year.