GTA home prices rose in final quarter of 2023 compared to a year earlier, report finds

The firm's fourth quarter home price survey says the aggregate price for a house in the GTA increased to $1.123 million year over year, but fell 2.1 per cent on a quarterly basis. Nationally, the home price jumped 4.3 per cent year over year and dropped 1.7 per cent quarterly. this y 4 due to pent up demand from sidelined buyers and newcomers, and sky high rent prices attracting investors to the market.

"As soon as people see that home prices have stabilized or are appreciating again, a proportion of the market that has been sitting on the sidelines will begin to trade again." he numbers by housing type, with the median price of a single family detached home in the GTA climbing 3.6 per cent year over year to $1.373 million in the final quarter of 2023.

She said a "brisk" spring real estate market looms for the GTA, provided the bank ends its.