Sales Slowed Down Even Further June 2024 home sales in the GTA were lower compared to the same month last year. Despite the Bank of Canada rate cut at the beginning of last month, many buyers kept their home purchase decisions on hold. This resulted in a 16.4% decline in sales compared to June 2023. New Listings: The market remained …
In May 2024, the GTA market saw 7,013 home sales, a 21.7% drop from the previous year. Keep in mind, there was a spike in activity last May before the rate hikes in June and July that slowed the market down. The average selling price was $1,165,691, down 2.5% from last May. Despite high interest rates, prices slightly increased from …
Spring is the busiest time for the Toronto real estate market, however with high home prices and elevated interest rates, the sales continue to be slow. The number of house sales (excluding condos) in April was 35% below the 10-year average for April. Peel saw the biggest decline from the 10-year average, down 43%. Even though the number of homes …
The GTA housing market is still going through an affordability challenge. There were more homes available for sale, aka active listings, this year compared to last year, up by 23.1%, but buyers still faced competition. The average time it takes to sell a home decreased to 29 days, down from 42 days last month. Overall GTA prices continued to gradually …
February saw a strong surge in sales, up 17.9% from last year and a hefty 24.7% increase from January. On March 6th, the Bank of Canada announced it would hold its key interest rate at 5%, where it has stayed since July. With inflation under control, many believe the Bank of Canada won’t raise rates anymore and possible rise cuts …
The real estate market is changing once again. This month’s email is brief but important, shedding light on the latest developments in the GTA housing market. It’s yet another pivotal moment, and if you’re considering a move, don’t hesitate to reach out. Opportunities may arise sooner than expected, and we’re here to ensure you secure the best deal possible before …
As we transition from 2023 to 2024, it’s a perfect time to look back at the twists and turns that characterized the real estate market in the past year. Let’s take a closer look at the key events that shaped the real estate landscape in 2023 and provide some insights into what we can expect in the coming year. A …
2023 has ushered in a year of transformation within Toronto’s real estate market. 🔄 High borrowing costs have shifted the pace of the market. Rising Rental Market and Affordability Challenges Despite the changes, one thing remains constant: the demand for housing in Toronto. However, the daunting hurdle of affordability has led many prospective buyers to rethink their options. Notably, there …
Are you keeping a close eye on the Greater Toronto Area (GTA) real estate market? The past few months have seen some intriguing developments, and the October 2023 update is no exception. Sales Decline, Prices Hold Steady In October 2023, the GTA market continued to show signs of softening sales. Compared to last year, there was a 5.8% decrease in …
The GTA market experienced the worst September sales since 2006. Several factors have been influencing the GTA home sales decline. High borrowing costs and inflation, the looming uncertainty over future decisions by the Bank of Canada, and a slowed economic growth have collectively weighed down the sales in September. The GTA market saw a significant dip in September. Sales were …
