GTA top1% realtor Daisy Huang presents【Price vs YoY change% quadrant analysis for all property types in the Greater Toronto Area】

【2024 Greater Toronto Area Real Estate New Year’s List】【Price vs YoY change% quadrant analysis for all property types in the Greater Toronto Area】
– In 2023, the keyword for the Canadian and Greater Toronto real estate markets was “high interest rates”, leading to a significant decrease in both investment and purchasing power for those in need. The overall GTA housing prices saw an average annual decrease of 5.3%.
– Looking at the regions, Markham experienced the smallest decline, with prices dropping by 1.7% year-on-year, followed by Toronto Central and Richmond Hill, which saw decreases of 2.2% and 2.5% respectively.
– In 2023, the areas with the highest average prices remained consistent with previous years in the Greater Toronto Area. The top three areas in terms of average prices were King City with an average price of $2.06 million, Oakville with $1.54 million, and Richmond Hill with $1.43 million.
– In 2023, the keyword for the Canadian and Greater Toronto real estate markets was “high interest rates”, leading to a significant decrease in both investment and purchasing power for those in need. The overall GTA housing prices saw an average annual decrease of 5.3%.
– Looking at the regions, Markham experienced the smallest decline, with prices dropping by 1.7% year-on-year, followed by Toronto Central and Richmond Hill, which saw decreases of 2.2% and 2.5% respectively.
– In 2023, the areas with the highest average prices remained consistent with previous years in the Greater Toronto Area. The top three areas in terms of average prices were King City with an average price of $2.06 million, Oakville with $1.54 million, and Richmond Hill with $1.43 million.
– If we analyze the average price and the change in prices within a quadrant graph, we can observe that in an environment where the overall market is declining, the further out from the core of the Greater Toronto Area, the larger the decline in prices. Conversely, the more established and higher-priced towns closer to the GTA experience smaller declines, or maintain their values, suggesting they are more resilient. This phenomenon is also reflected in the earlier heatmaps, where lighter-colored blocks indicate larger declines, while darker-colored blocks indicate smaller declines.
– Daisy Huang wants to point out that this is the opposite of what happened during the period of market surge amid the pandemic, where areas with lower average prices experienced larger price increases.
About Creator: Daisy Huang
– Top Realtor in the Greater Toronto Area
– KOL for GTA real estate market
– Diamond Award Winner
– Hall of Fame
Cell Phone +1 647 899 0888 (WeChat/WhatsApp/LINE/Telegram)