Andy Taylor
Phone
(416) 994-2118
Email
[email protected]
The Greater Toronto Area housing market experienced a transitionary year in 2024. Annual sales were up slightly compared to 2023, and new listings were up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium apartment market. Average selling prices in 2024 dipped in comparison to 2023 as a result
Total Residential Transactions
Average Selling Price
Total New Listings
Property Days on Market
While condo sales remained low in the third quarter, market conditions are expected to improve. As the positive impact of interest rate cuts continues to grow, a growing number of renters will likely make the move into homeownership. Many of these households can initially start to take advantage of lower borrowing costs and lower home prices, thereby making their monthly payments more affordable
Total Condo Apartment Sales
Average Selling Price
Sales-to-New Listings Ratio
Property Days on Marker
“A more balanced GTA rental market has no doubt led to an improvement in affordability over the past year. Interest rates have trended lower this year, with more Bank of Canada cuts yet to come. More affordable mortgage payments could prompt some renters to move into homeownership. This could lead to a further increase in rental inventory in the months ahead
Total Apartment Rentals
Average 1 Bedroom Apt Rent
Total New Listings
All information above is from TREB Market Stats