Monday, December 18, 2023 / by Shiela Balanay
Ontario MLS® Home Sales Remain Subdued Despite Climbing Supply
Residential sales activity reported through the MLS® Systems of real estate boards in Ontario numbered 153,979 units in November 2023 year to date. This was a moderate decrease of -12.9% from November 2022. The more comprehensive year-to-date average price was $873,284, down by 6.7% from the first 11 months of 2022. Months of inventory numbered 4.4 at the end of November 2023, up from the 3 months recorded at the end of November 2022 and above the long-run average of 2.6 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
