GTA Housing Market Becomes More Affordable Following Rate Cut TORONTO, ONTARIO, September 5, 2024 – The Greater Toronto Area (GTA) housing market saw a slight decline in home sales year-over-year for August 2024, while new listings rose modestly over the same period. Although the market remained well-supplied, the average home price saw only a minor decrease compared to August 2023. "The Bank of...
More rate relief is expected this week for those with variable-rate mortgages and lines of credit. Markets overwhelmingly expect the Bank of Canada to deliver its third consecutive quarter-point rate cut when it meets this week. That would bring the Bank’s overnight target rate down to 4.25%, a full 75 basis points (or 0.75%) below its peak of 5.00%. Encouraging inflation data and signs of a...
Dear Valued Clients, We hope this message finds you well. As we move through the summer, we’re excited to bring you the latest insights from the Greater Toronto Area (GTA) real estate market based on the June 2024 Market Watch report. Here’s a detailed look at the current trends and what they mean for you. Market Overview: The real estate market in the GTA continues to evolve, presenting both...
April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year. Greater Toronto Area (GTA) REALTORS® reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB)...
TRREB: Selling Prices Up In March and Set to Accelerate This SpringTORONTO, ONTARIO, April 3, 2024 – March 2024 home sales reported through TRREB’sMLS® System were lower than the March 2023 result, due in part to the statutory holiday GoodFriday falling in March this year versus April last year. Despite a better-supplied marketcompared to last year, there was enough competition between buyers to see...
Sales Numbers Overall, in Toronto and GTA sales were down 47% from same time last year. Market had the lowest sales volume in 20 years for the fourth consecutive month. What is causing this? Many buyers are sitting on the sideline as Bank of Canada is continuing on raising interest rate. This upward trend on interest rate is not an ideal environment for buyers as their budget and monthly...
Compare listings
Compare