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    Gary Bhutta

    Broker of Record

    Yes Realty Inc. - Best Real Estate Brokerage Brampton

    Connecting people with properties

    Toronto's housing market has seen a decrease in asking prices, with a drop of 8.31% in the past year, while the number of homes for sale has declined by 8.42%. HouseZoom currently has 5,297 homes for sale in Toronto, including 1,253 houses, 3,323 condos, and 437 townhouses, with the median asking price of houses, townhouses, and condos being $1.9M, $1.5M, and $749K, respectively. Additionally, the average selling price for all home types in Toronto is $1.2M, which is 6% lower than May 2022. Toronto has a population of 2.6 million, with 4.5% population growth and a 9% unemployment rate.

    As the provincial capital of Ontario, Toronto is a global city with the highest concentration of banks and brokerage firms on Bay Street, making it the financial capital of Canada. The city is also well-known for its media, publishing, telecommunications, IT, and film and production industries. Toronto is considered one of the most multicultural and cosmopolitan cities worldwide, and it is home to 143 unique neighborhoods.

    The real estate market in Toronto is highly competitive, and finding a home in this market will require determination and effort. Homes for sale in Toronto typically sell for over asking price and spend only a week or two on the market, making it one of the most competitive markets in Canada. However, the market is starting to stabilize, and buyers should act fast and be prepared to pay top dollar for well-renovated or new-build homes. Those who are looking for more affordable options should consider suburban houses, townhouses, or urban Toronto condos or look for new houses for sale in areas reclaimed by developers.

    For those interested in renting, HouseZoom has 3,959 Toronto rental listings, including 526 houses and 2,977 apartments for rent, with an average lease price of $1,001. HouseZoom is the most thorough and up-to-date Toronto real estate listing provider, with MLS® listings updated every 15 minutes.

    The Toronto Regional Real Estate Board (TRREB) holds the copyright for the listing data. It is only intended for consumers with a genuine interest in buying, selling, or leasing real estate and cannot be used for commercial purposes or any other purposes. Although the data is reliable, it is not guaranteed to be accurate by the Toronto Regional Real Estate Board or Yes Realty.


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