A look back at the priciest and cheapest places to live in the GTA and other 2023 real estate insights and sales data

Here, we look back at some of the affordability highlights from 2023 GTA Housing Snapshot report, including where you’d find some of the more affordable condos and houses in the GTA’s five regions.

Where the highest median priced homes sold. Home prices and sales were down for houses and condos across all parts of the GTA, while the average number of days on market increased. This provided homebuyers with more time to find the right home and the ability to buy a home without having to compete for it.

For houses, many of the most affordable markets were found in Durham, which had several cities with the lowest median house prices. It’s also a region who’s cities had some of the fastest-selling homes and lowest average days on market due to the lower price point.

At the pricier end, , the most expensive area to buy a house could be found in  King, York, which had a median sold price of $1,825,000. Next was Oakville, Halton, with a median sold price of $1,385,000, followed by Markam,York, at $1,310,000.

Interest rates, affordability and supply were the defining issues for the GTA housing market in 2023, causing many potential buyers to postpone their homebuying plans.

It’s interesting to note that “Separate Entrance” was the most searched term by users browsing listings on Wahi’s site, suggesting that homebuyers are looking for ways to offset higher borrowing costs to help make the dream of homeownership a reality.

 

Source – Toronto Sun