Active home listings are higher than they’ve been in a decade in the GTA

The average costs surrounding home inventory in Ontario are looking night and day compared to last year. 

In a recent report by real estate specialists at Zoocasa, a straight line has been drawn between inventory costs from 2023 and the final leg of 2024. 

According to the report — country-wide — there has been a massive decrease in home prices, signaling a buyer’s market that has been riding a steady median for several months. 

Further data also indicates that among the provinces seeing this downward trend, Ontario is seeing some of the sharpest declines, with Zoocasa’a data indicating that Ontario had a defined drop of 1.70% between July of 2023 and 2024 — with prices declining from $852,1 to $837,685.

In larger cities like Toronto, a staggering 18.5 per cent increase in listings surged upward, with 16,296 new listings in July 2024 compared to 13,755 in July 2023.

Additional growth in surrounding areas in the GTA also occurred in tandem with Toronto, as Mississauga had 2,121 residential listings by the end of this July, a massive gain of 54.1% from July 2023.

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Representatives within Zoocasa received a statement from a member of Cornerstone Real Estate — a firm operating in the GTA — stated that “active listings haven’t been this high in July in a decade.”