The October 2024 GTA market report highlights a housing market on the upswing, with improving buyer activity and steady price trends. While challenges remain, especially in affordability and inventory, the outlook for the coming months suggests a dynamic market for both buyers and sellers.
The GTA real estate market is showing signs of recovery! Home sales surged by 8.5% in September 2024, with buyers taking advantage of interest rate cuts and new lending guidelines.
From May to August, home sales consistently declined year-over-year, with drops ranging from 5.3% to 21.7%. Despite this, new listings increased each month, providing buyers with more options and negotiation power. Average selling prices fell year-over-year but showed slight stabilization in July and August. Looking ahead, lower mortgage rates may boost demand later in 2024, potentially driving prices up in 2025. For now, buyers can take advantage of current inventory levels and moderate prices.
In April 2024, Toronto’s real estate market saw a shift with increased inventory and stable pricing compared to the previous year. TRREB’s report highlights these trends, along with insights into buyer preferences and government initiatives.
March 2024 GTA home sales dropped, but prices rose due to increased competition; with sales down 4.5% and listings up 15%, TRREB sees market shifts, anticipating further growth with lower borrowing costs, emphasizing supply solutions.
Explore the GTA housing market’s resurgence with a notable sales surge, price stability, and future trends. TRREB’s latest report unveils positive momentum for potential homebuyers in the Greater Toronto Area for February 2024.
Dive into TRREB’s comprehensive market update, exploring the dynamics of GTA real estate in 2023, with a keen eye on anticipated shifts in 2024
Dive into TRREB’s comprehensive market update, exploring the dynamics of GTA real estate in 2023, with a keen eye on anticipated shifts in 2024