[mon-fri] 9-8 [sat] 9-4 [sun] 10-2


drop us a line anytime!

where you’ll find us!

74 Jutland Road Unit #40

Toronto, ON M8Z 0G7

‘the numbers’ [july 2023]
by sutton old mill

➕july 2023➕


the numbers’ for July are in!

Home sales in July remained strong and surpassed last year’s levels, indicating that many households have adapted to higher borrowing costs. However, the sales momentum experienced earlier in the spring has slowed down since the Bank of Canada resumed its rate tightening cycle in June.

On the whole, the July market was more balance when compared to June – with sales trending lower and an increase in new listings.  This combination has shifted Toronto real estate into a slight ‘Buyers’ market environment.

Despite the uptick in new listings, Toronto continues to face challenges due to a persistent lack of listings, compounded by higher borrowing costs, impacting home sales over the last two months.

Uncertainty surrounding the economy and borrowing costs is keeping some potential homebuyers on the sidelines in the short term. Additionally, there is a mismatch in public policy related to housing, with little progress in creating more affordable ownership and rental housing despite the record levels of immigration targeted by the federal government.

Looking to buy or sell a home in Toronto?  Average prices in July were as follows:

Detached $1,641,045 [+8% vs. 2022]

Semi-detached $1,257,086 [-1% vs. 2022]

Townhouse $1,019,333 [+6% vs. 2022]

Condo $753,520 [+1% vs. 2022]


Data presented is for City of Toronto Only.   Source: TRREB.

more of what you love

‘the numbers’ [august 2023]

➕august 2023➕ August in the Toronto real estate market was marked by higher borrowing costs, ongoing uncertainty about the economy and the decision-making process of the Bank of Canada, and a limited supply of property listings. Total sales remained stable, while new...

read more

‘the numbers’ [june 2023]

➕june 2023➕   ➕ ‘the numbers’ for June are in! Despite higher borrowing costs, the demand for homeownership continues to grow, indicating a robust Toronto real estate market.  Total sales were up +23% vs. June 2022, though trending slightly down [-4%] from last...

read more

‘the numbers’ [may 2023]

➕may 2023➕   ➕Let’s delve into ‘the numbers’ for May.   Recovery, limited supply and increasing competition remain the headlines for Toronto Real Estate. The demand for homes in Toronto continues to surpass the available supply, leading to intense competition...

read more

‘the numbers’ [april 2023]

➕april 2023➕   ➕‘the numbers’ for the April are in.  Tightening market supply, increasing competition, and a gradual recovery in average price continued to be Toronto’s spring market housing story in April. Overall, April’s home sales remained below 2022. New...

read more

‘the numbers’ [march 2023]

➕march 2023➕   ➕‘the numbers’ for the March are in.  Tightening market supply coupled with returning Buyers has led to increased competition in many neighbourhoods across the City of Toronto.  “Lower inflation and greater uncertainty in financial markets has...

read more

How Interest Rates Affect the Toronto Real Estate Market?

The Toronto real estate market has been a topic of discussion for many years due to its volatility and high demand. One of the key factors that affect the Toronto real estate market is the interest rate set by the Bank of Canada. Interest rates can have a significant...

read more