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TRREB Market Report: More Options for Toronto Home Buyers in April, 2024

May 6, 2024
TRREB Market Report: More Options for Toronto Home Buyers in April, 2024 main image

In the dynamic landscape of Toronto’s real estate market, April 2024 brought forth notable shifts in sales activity and housing inventory. Analyzing the latest data from the Toronto Regional Real Estate Board (TRREB), we delve into key insights to provide a comprehensive overview of the current market trends.

Sales Performance

  • Despite a slight decrease of 5% in home sales compared to April 2023, the market remained robust, with 7,114 transactions recorded.
  • Seasonally adjusted figures revealed a marginal decline in sales, indicating stability in the market.

Increased Inventory

  • New listings surged by an impressive 47.2% year-over-year, offering homebuyers a broader selection of properties to choose from.
  • This influx of listings underscores homeowners’ anticipation of heightened demand for housing during the spring season.

Pricing Dynamics

  • The MLS® Home Price Index (HPI) Composite benchmark experienced a marginal decline of less than 1% year-over-year.
  • Despite ample inventory, the average selling price demonstrated resilience, edging up by 0.3% to $1,156,167.

Market Outlook

  • TRREB President Jennifer Pearce noted the potential impact of the Bank of Canada’s policy rate cuts on homebuying decisions, suggesting a wait-and-see approach among potential buyers.
  • Chief Market Analyst Jason Mercer highlighted the current buyer-friendly market conditions, emphasizing the expectation of tighter market dynamics in the future, likely leading to renewed price growth.

Government Initiatives and Challenges

  • TRREB CEO John DiMichele emphasized the importance of alignment in government policies to address affordability and housing supply challenges effectively.
  • While government commitments have been made to enhance affordability and choice, DiMichele stressed the need for coherent strategies to ensure tangible results.


The TRREB report for April 2024 provides valuable insights into the evolving dynamics of Toronto’s real estate market. With increased inventory offering homebuyers more options and pricing remaining stable, the stage is set for prospective buyers to make informed decisions. As market conditions evolve and government initiatives unfold, navigating the real estate landscape requires vigilance and adaptability to seize opportunities and address challenges effectively.

Have feedback or questions? Please drop an email to Opel Ou, Real Estate Broker:

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Source: TRREB – Market Watch

April 2024 – Market Statistics – Quick Overview

Residential Statistics

Commercial Statistics(Q4 2023)

Condominium Sales Statistics(Q1 2024)

Condominium Rental Statistics(Q1 2024)

* **In conjunction with TRREB’s redistricting project, historical data may be subject to revision moving forward. This could temporarily impact per cent change comparisons to data from previous years**

Source: Housing Market Chart Archive – The Toronto Regional Real Estate Board (TRREB)

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