Toronto East market report · December 2024
Toronto East housing market: December 2024
Toronto East housing market in December 2024: $942,069 average sale price (down 0.0% year over year), 298 homes sold, 2.5 months of supply — a balanced market. Figures from the Toronto Regional Real Estate Board.
What happened in Toronto East in December 2024
Toronto East recorded 298 sales in December 2024, 3.9% fewer than the same month a year earlier. Sellers brought 393 new listings to market, leaving 1,061 properties in inventory — 44.0% 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. 47% of the month's new listings sold.
The average sale price across all property types was $942,069, down 0.0% year over year and down 5.7% on the month. Detached homes averaged $1,207,742 against $585,841 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 December 2024
By property type
| Type | Average sale price | YoY | Sold | New listings | Inventory |
|---|---|---|---|---|---|
| Detached | $1,207,742 | +3.1% | 124 | 163 | 346 |
| Semi-detached | $1,199,362 | +16.2% | 29 | 22 | 67 |
| Row / townhouse | $941,564 | -8.3% | 19 | 19 | 33 |
| Apartment | $585,841 | -2.1% | 89 | 149 | 491 |
| All types | $942,069 | 0.0% | 298 | 393 | 1,061 |
Source: the Toronto Regional Real Estate Board, Toronto East, December 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.