Wahi recently released its 2023 GTA Housing Snapshot Report covering the City of Toronto, Durham Region, Halton Region, Peel region and York Region.

This Report features insights, analysis, and more about the Greater Toronto Area’s real estate market. It includes bidding trends gathered from nearly 400 neighbourhoods, ranks the most- and least-affordable towns and cities for both condos and houses, and compiles year-to-date sales data.

• This year, Durham region is home to six of the 10 most affordable cities and towns for houses in the GTA, including the top two spots (Brock and Oshawa, respectively).
• Durham region is also where homes are selling the fastest in the GTA, with an average days on market of 15 days, four days below the GTA-wide average.
• Specifically, Durham has the four fastest-selling cities in the GTA: Ajax (12 DOM), Whitby (13 DOM), Pickering (15 DOM), and Oshawa (15 DOM).
• Durham has seen the smallest annual decline in the median home price this year. The median price between Jan. 1 and Nov. 15 is $970,000, down just 1.4% compared to the same period last year.
• The three lowest-priced detached homes to sell this year are each located in Durham region.

• Halton Hills is one of the most affordable towns and cities for houses in the Greater Toronto Area, with the year-to-date median price of a non-condo (including detached and semi-detached homes as well as townhouses) sitting at $1,050,000.
• However, Halton is also home to one of the most expensive cities or towns in the GTA. Oakville is the GTA’s second-priciest market, with a median price of $1,385,000.
• Halton region is tied with Toronto as the slowest-selling regions in the GTA. The average days on market for listings in Halton is 20 days, up 33.3% from a year ago.
• Halton has seen the second-largest year-over-year price drop of the GTA’s five regions, with the median price for all housing types falling 6.6% compared to the same period a year ago (Jan. 1 to Nov. 15).

• Central Mississauga has recorded the third most sales this year of any of the roughly 400 neighbourhoods that Wahi analyzed, with 633 sales occurring between Jan. 1 and Nov. 15 this year.
• Brampton is the ninth most affordable city or town in the GTA, with a year-to-date median price of $,1,051,000.
• Peel region has seen the sharpest year-over-year decline in home prices, with the median price of $980,000 down 7.1% compared to the same period (Jan. 1 to Nov. 15) last year.
• A Brampton home sold for $1,849,000 under-asking, making it the GTA’s most underbid house of 2023 (Wahi’s report provides the listing).

• Using median home prices, Wahi has ranked the GTA’s top 10 most affordable local condo markets based on year-to-date transactions, and three are found in the City of Toronto (the former boroughs of East York, Scarborough, and York).
• Toronto has the lowest median home price ($850,000) of any of the GTA’s five regions so far this year.
• The gap between GTA condo and detached-home prices is the smallest it’s been since the beginning of the pandemic.
• All three most expensive GTA detached homes sold this year were located in the neighbourhood of Forest Hill (Wahi’s report provides the listings).
• The share of GTA neighbourhoods in underbidding territory has been steadily increasing for the past five months, reaching a nine-month high of 81% in October.

Other Interesting Facts:

• Separate Entrance was the most-searched term by users browsing Wahi’s listings, suggesting that homebuyers are looking for ways to offset higher borrowing costs.
• Two Toronto parking spaces have sold for more than $100,000 this year.

• York region is the priciest of the GTA’s five regions this year, with a median home price of $1,250,000. (In fact, King — which has a median price of $1,825,000 — is the most expensive local market across the entire GTA.)
• York region home prices have also held up stronger than most other parts of the GTA, with the year-to-date median price only down 2.7%, compared to the same 10.5-month period last year.
• Markham’s Berczy Village is number one out of nearly 400 GTA neighbourhoods for overbidding on homes.
• One Markham home sold this year for more than double its asking price, making it the most overbid home in the GTA (Wahi’s report provides the unique listing).

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