November Toronto Real Estate Market Stats: 5,875 Homes Sold + Active Listings Rose 30.2%

Winter is slowly settling in, and as the holiday season approaches, the GTA real estate market is giving us plenty to talk about. November was a month of significant momentum, with home sales surging year-over-year as buyers re-entered the market, motivated by declining borrowing costs and improved affordability. With 5,875 homes sold through the Toronto Regional Real Estate Board (TRREB) system, the 40.1% increase in sales compared to November 2023 showcases a market regaining its strength.

Toronto Real Estate Market Overview: Key Insights

At the same time, inventory levels remain a point of focus. Active listings rose to 21,818, up 30.2% from last year, but the faster pace of sales is creating tighter conditions, signaling a shift back toward a seller’s market. The average sale price climbed 2.6% compared to November 2023, reaching $1,106,050. This combination of rising sales, stable pricing, and declining inventory paints a picture of a market preparing for a robust recovery in 2025.

Jason Mercer, TRREB’s Chief Market Analyst, says that:,

“On a seasonally adjusted basis, the average selling price edged slightly lower compared to October. Although market conditions have tightened, particularly for single-family homes, the detached home market in particular, experienced average annual price growth above the rate of inflation, particularly in the City of Toronto. However, the condominium apartment market continues to experience lower average selling prices compared to a year ago. Condo buyers are benefitting from a lot of choice, giving them negotiating power. This will attract renter households into homeownership as borrowing costs trend lower in the months ahead.“

Whether you’re a buyer, seller, or investor, now is the time to pay close attention to market trends. Let’s dive into the regional highlights.

GTA Real Estate Insights

The GTA real estate market continued its upward momentum in November 2024, with home sales reaching 5,875—a significant 40.1% increase compared to the 4,194 sales reported in November 2023. Active listings also saw an increase, climbing by 30.2% year-over-year to 21,818. Despite the rise in activity, the average selling price remained relatively stable, showing a modest 2.6% increase to $1,106,050. The average days on market rose to 24 days, reflecting a 26.3% increase compared to last year. With 3.71 months of inventory, the market is tightening, shifting further toward a seller’s market and setting the stage for continued momentum into 2025.

Toronto Real Estate Market Stats

In Toronto, 2,236 homes were sold in November, representing a 39.1% increase compared to the previous year. The average home price rose modestly by 1.1% to $1,111,099. Active listings also increased, with 8,662 properties available—a 23.8% rise. The condominium market performed strongly, with sales jumping by 36.6%. However, average condo prices softened slightly, settling at $713,364—a 1.0% decline year-over-year. These trends indicate a healthy balance of activity, with ample inventory for buyers and continued growth in sales.

Mississauga Real Estate Market Stats

Mississauga’s real estate market saw steady growth, with home sales increasing by 1.8% to 445 units. The average sale price fell slightly by 0.3% to $1,060,458, while active listings rose by 33.9%, reaching 1,981 properties. The condominium market also saw an increase in activity, with a 17.9% rise in sales. However, the average condo price declined by 5.2%, coming in at $615,750. These conditions suggest a balanced market, with opportunities for both buyers and sellers.

Oakville Real Estate Market Stats

Oakville’s luxury market remained resilient in November, with home sales climbing by 56.2% year-over-year to 214 units. The average sale price experienced a minor decline, falling 0.9% to $1,525,492. Active listings grew by 35.9%, with 875 properties available. The condo market also saw significant activity, with a 40.0% increase in sales. However, the average condo price dropped by 43.9% to $749,103, presenting opportunities for buyers to enter this upscale market at lower price points.

Durham Real Estate Market Stats

Durham Region continued its strong performance, with home sales rising by 36.9% year-over-year to 739 units. The average sale price fell slightly by 2.0% to $921,784. Active listings increased by 25.1%, totalling 1,817 properties. The condominium market also experienced growth, with sales climbing by 40.0%. Average condo prices softened to $555,771, a 3.0% decrease compared to last year. With just 2.46 months of inventory, the Durham market continues to lean in favour of sellers while still offering affordability.

York Region Real Estate Market Stats

York Region followed a similar trend, with home sales increasing by 36.9% compared to last year, reaching 1,087 units. The average sale price dipped slightly by 2.2% to $1,313,466, while active listings rose by 35.9%, reaching 4,023. The condominium market also performed well, with sales increasing by 31.8%, though the average condo price dropped by 4.3% to $651,237. York Region’s market provides a dynamic mix of opportunities for buyers and sellers alike.

Brampton Real Estate Market Stats

Brampton’s market saw one of the highest sales increases in the GTA, with 442 homes sold in November, representing a 46.4% rise from the previous year. The average sale price declined by 4.0%, landing at $1,011,648. Active listings rose to 1,637 properties, up 32.6%. The condo market in Brampton also showed significant growth, with a 31.6% rise in sales, although the average condo price fell by 7.1%, settling at $511,316. These conditions create a competitive but favourable environment for buyers seeking value within the GTA.

What This Means for Buyers and Sellers?

The GTA real estate market has closed out November on a high note, with renewed energy and stronger activity across nearly every region. The rise in home sales and tightening inventory levels suggest that buyers are stepping off the sidelines, encouraged by lower borrowing costs and stabilizing prices. This creates an ideal environment for sellers looking to list their properties and attract motivated buyers. Meanwhile, the condominium market continues to offer opportunities for first-time buyers and investors alike, with plenty of options and negotiating power still on the table.

For buyers: The key is acting decisively and preparing thoroughly as inventory shrinks and competition rises. Aligning yourself with a trusted real estate advisor will make all the difference in navigating today’s market.

For sellers: this is an opportune moment to capitalize on growing buyer demand. Positioning your property effectively can lead to a quicker sale and maximize your return.

Whether you're buying, selling, or simply exploring your options, the current market offers plenty to consider. If you have any questions or need guidance, I’m here to help. Let’s navigate these trends together and find the right approach for your real estate goals. Let's chat!