Market Watch – April 2024

Market Watch – April 2024

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) MLS® System in April 2024 – down by five per cent compared to April 2023. New listings were up by 47.2 per cent over the same period. On a seasonally adjusted monthly basis, sales edged lower while new […] Read more

Market Stats At A Glance – MAR 2024

Market Stats At A Glance – MAR 2024

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 a moderateincrease in the average March home price compared to last year’s level.Greater Toronto Area (GTA) REALTORS® reported 6,560 sales through TRREB’s MLS®System in March 2024 – down by 4.5 per cent compared to March 2023. […] Read more

July 2022 Real Estate Market Update

July 2022 Real Estate Market Update

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 carrying cost is changing rapidly. I expect once Bank of Canada stabilize their interest rate hike and reach neutral rate, buyers will have to re-baseline their budget and start searching for properties at that […] Read more