The GTA real estate market wrapped up 2024 with an average sales price of $1,067,186, representing a 1.6 per cent decline compared to the previous year. Full-year data revealed an average sales price of $1,111,487, indicating a relatively stable selling price over the past twelve months. Total annual sales reached 67,907, a 2.5 per cent increase year-over-year.
The defining theme of 2024 was inventory. Active listings surged dramatically throughout the year, reaching a record-breaking total of 230,949—a significant 42.6 per cent increase. December followed the usual seasonal pattern of reduced activity, yet the year closed with 15,393 active listings, setting a new high for December inventory levels. This surge reflected a mix of cautious buyers and sellers adjusting to a shifting market environment.
For more details on the December 2024 monthly figures and the latest Royal LePage Market Update Report, please visit this month’s edition of our Real Estate Facts & Figures.