But now that the GTA market has become more balanced, with a sales-to-new-listings ratio of 46% in November according to the Toronto Regional Real Estate Board (TRREB), new listings have been able to catch up with demand. To find out exactly how inventory levels have changed over the course of a year, Zoocasa analyzed months of inventory and active listing data from November 2022 to November 2023. Months of inventory and the number of active listings for each region were sourced from TRREB. <\/p>\n\n\n\n
Active Listings Up by More than 40% in Most Regions of Toronto<\/h1>\n\n\n\n
Despite every region in Toronto<\/a> experiencing a dip in active listings from September to November, overall conditions have improved from 2022 in every region and city. The City of Toronto went from 4,931 active listings in November 2022 to 6,998 active listings in November 2023 – a 42% jump. Even if active listings in the city continue to drop off month-over-month, it is unlikely that they will reach November 2022 levels anytime soon. <\/p>\n\n\n\n Active listings in York Region were up 47% from 2022, largely driven by significant increases in Vaughan<\/a>, Markham<\/a>, and Richmond Hill<\/a>. Durham and Peel Region both experienced over 40% increases in active listings from November 2022 to November 2023, while Halton Region was up 27.5% year-over-year. Looking at individual cities, active listings surged the most in Bradford<\/a>, Newmarket<\/a>, Aurora<\/a>, Ajax<\/a>, Pickering<\/a>, and Milton<\/a>, where active listings increased by more than 60% year-over-year. <\/p>\n\n\n\n Unlike active listings, which have seen a slowdown in the past few months, months of inventory is still climbing or remaining stable across the GTA. In November 2022, every region in Toronto besides Simcoe County had under two months of inventory, while in November 2023 most regions had over two months of inventory. And from October 2023 to November 2023, every area of Toronto either maintained the same level of inventory or slightly increased. This is a good sign that overall supply has balanced out, suggesting we have overcome the worst of supply challenges. <\/p>\n\n\n\n Months of inventory in Simcoe County leaped up from 2.4 months in 2022 to 3.6 months in 2023 – the only region of Toronto currently over three months. The City of Toronto also experienced a stark jump in inventory, rising from 1.9 months in 2022 to 2.7 months in 2023, driven by Toronto Central which currently has 3.2 months of inventory. Besides Toronto Central, few areas have inventory over three months. King<\/a> and Adjala-Tosorontio<\/a> are outliers with months of inventory above five months, while Georgina<\/a>, Brock<\/a>, and Innisfil<\/a> are the only other cities above three months of inventory. <\/p>\n\n\n\n\n
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<\/figure>\n\n\n\nMonths of Inventory Improved and Stabilizing<\/h1>\n\n\n\n
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