June 2023 Real Estate Market Watch Snapshot

A couple of key takeaways from TRREB’s full April market report released today that played out similarly in many of our coverage areas;

· On a year-over-year basis, sales edged lower compared to April 2022, but new listings were down by more than one-third.

· GTA REALTORS® reported 7,531 sales through TRREB’s MLS® System in April 2023 – down by 5.2 per cent compared to April 2022. In comparison to March 2023, sales increased on an actual and seasonally adjusted basis.

· On a year-over-year basis, new listings were down by 38.3 per cent in April 2023.

I’ve made a subtle change, bolding the month over month changes. My thought is, as we move into the year/year market peak months of 2022, it will be more valuable to focus on the month over month changes to assist in accessing current market conditions and identifying trends.