Toronto East market report · September 2024
Toronto East housing market: September 2024
Toronto East housing market in September 2024: $1,018,015 average sale price (up 1.7% year over year), 461 homes sold, 2.5 months of supply — a balanced market. Figures from the Toronto Regional Real Estate Board.
What happened in Toronto East in September 2024
Toronto East recorded 461 sales in September 2024, 4.8% more than the same month a year earlier. Sellers brought 1,535 new listings to market, leaving 1,800 properties in inventory — 35.1% more than a year ago. At the month's pace of sales that is 2.5 months of supply, which puts Toronto East in a balanced market. 45% of the month's new listings sold.
The average sale price across all property types was $1,018,015, up 1.7% year over year and up 5.1% on the month. Detached homes averaged $1,252,311 against $616,795 for condo apartments — the gap that decides which side of the $1.5 million insured-financing cap a purchase here falls on.
The two years to September 2024
By property type
| Type | Average sale price | YoY | Sold | New listings | Inventory |
|---|---|---|---|---|---|
| Detached | $1,252,311 | +0.2% | 222 | 699 | 701 |
| Semi-detached | $1,164,241 | +1.5% | 64 | 151 | 134 |
| Row / townhouse | $1,007,206 | -6.2% | 15 | 77 | 82 |
| Apartment | $616,795 | -0.7% | 121 | 472 | 707 |
| All types | $1,018,015 | +1.7% | 461 | 1,535 | 1,800 |
Source: the Toronto Regional Real Estate Board, Toronto East, September 2024.
What this means if you're buying in Toronto East
Market conditions shape the negotiation; your income, debts and the stress test decide what you can actually borrow. If a property has an existing basement apartment, the single most valuable question to ask before you write is whether it is legal and registered — because lenders differ enormously on unregistered suites, and the ones that will use the income at all will often use less of it. Beyond that, how a lender applies the rent matters as much as how much they use: adding it to your income is far less powerful than subtracting it from the payment, and not every lender offers the second approach. On an east-end purchase with a suite, that single choice can swing your approval by a very large amount.
Read the full Toronto East area guide, compare it with the wider GTA market, or run your numbers and start an application.
Buying in Toronto East?
Get a real pre-approval before you shop — it's the difference between a budget and a guess.