Toronto East market report · October 2024
Toronto East housing market: October 2024
Toronto East housing market in October 2024: $1,048,312 average sale price (up 2.4% year over year), 643 homes sold, 2.5 months of supply — a balanced market. Figures from the Toronto Regional Real Estate Board.
What happened in Toronto East in October 2024
Toronto East recorded 643 sales in October 2024, 30.7% more than the same month a year earlier. Sellers brought 1,312 new listings to market, leaving 1,764 properties in inventory — 28.9% 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. 46% of the month's new listings sold.
The average sale price across all property types was $1,048,312, up 2.4% year over year and up 3.0% on the month. Detached homes averaged $1,297,671 against $572,266 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 October 2024
By property type
| Type | Average sale price | YoY | Sold | New listings | Inventory |
|---|---|---|---|---|---|
| Detached | $1,297,671 | +3.6% | 312 | 563 | 654 |
| Semi-detached | $1,236,314 | +10.9% | 87 | 149 | 137 |
| Row / townhouse | $1,027,832 | +4.6% | 29 | 57 | 76 |
| Apartment | $572,266 | +0.6% | 174 | 394 | 684 |
| All types | $1,048,312 | +2.4% | 643 | 1,312 | 1,764 |
Source: the Toronto Regional Real Estate Board, Toronto East, October 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.