The total number of transactions across all TRREB areas and all property types in December 2023 was 3,444, an increase of 11.5% from 3,090 in December of the previous year. Looking at this, it looks like there is an increase and the movement is good, but the total number of transactions has fallen to nearly half of what it was in 2021.
The average price for all property types was $1,084,692, a slight increase of 3.2% from $1,050,569 in the same month of 2022.
In December 2021 it was $1,163,323. The number of new listings is -6.6%, and the number of active listings is +19.3%. It is believed that the rapid increase in unsold inventory is being suppressed in part due to a decrease in the number of properties for sale.
A rapid increase in inventory will lead to lower prices, so it is interesting to see what this balance will be. The average number of days to sell was 49 days, an increase of 22.5% from 40 days in the same month last year, indicating the sluggishness of the market.