Home > Blog > All Articles
All Articles (85)
In October 2024, home sales in the Greater Toronto Area increased strongly year-over-year in October 2024.
In October 2024, home sales in the Greater Toronto Area increased strongly year-over-year in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up slightly on an annual basis.
Discover New Opportunities with CMHC MLI Select!
Join us for an exclusive training session designed specifically for real estate professionals! Elevate your real estate game while networking with industry experts. Leverage government-backed financing to maximize your returns and watch your investments thrive!
The Gallery One-Day Sales Event
Join radmarketing and Bay Street Group for a carefully curated exhibition showcasing the GTA’s finest pre-construction condo projects and unlock unbeatable deals to secure your future home or investment!
Bank of Canada Cuts Key Rate to 3.75% Amid Declining Inflation
On October 23, 2024, the Bank of Canada reduced its key lending rate from 4.25% to 3.75%, marking its fourth consecutive cut since June. This decision follows a decrease in Canada’s inflation rate from 2.7% in June to 1.6% in September, paving the way for further rate reductions to support economic stability.
In September 2024, the average DOM for the condo market in the City of Toronto was 34 days
Condos stayed on the market for an average of 34 days in the Central, while in West Region and East Region, they needed 36 days and 29 days to sell.
In the City of Toronto, detached homes were on the market for an average of 25 days in September
The East Region market was still the hottest, and houses were sold firm within 17 days.
Detached homes needed an average of 24 days to sell in the Central Region and 23 days in the West Region.
Resale Home Market in the City of Toronto (September 2024)
In September, the average selling price for detached in Toronto was $1.69 million, marking a year-on-year decrease of 2.2%, and there was also a 0.4% decrease compared to the previous month. Condo town and condo apart had average selling prices of $830k and $710k, respectively, with year-over-year declines of around 2-3%.
In September 2024, home sales in the Greater Toronto Area increased year-over year.
Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices.
New home sales in the Greater Toronto Area hit a historic low in August 2024, down 46% compared to last year
In August, 464 units were sold, a 46% decrease compared to last year. Condo apartments accounted for 235 of these sales, down 61% from August last year and 81% below the ten-year average. There were 229 new single-family homes sold, a 14% decrease from August last year and 56% below the ten-year average.
🚀 *Exclusive On-Site Preview* - The Glenwood Collection at The Towns on Bayview ✨
🚀 *Exclusive On-Site Preview* - The Glenwood Collection at The Towns on Bayview ✨
Total 9
Pages
Featured Listings
-
MLS® C12800464 50 Dunfield Avenue 817, Toronto C10, ON M4S 0E4 0-5 | 3 Beds| 2 Baths $799,900 BAY STREET GROUP INC. -
MLS® N12800494 38 Honeycrisp Crescent 2108, Vaughan, ON L4K 0M8 1 Baths $1,600 BAY STREET GROUP INC.
-
MLS® C12800496 85 Skymark Drive 801, Toronto C15, ON M2H 3P2 3 Beds| 2 Baths $1,288,000 BAY STREET GROUP INC.
-
MLS® N12800500 38 Honeycrisp Crescent 2015, Vaughan, ON L4K 0M8 2 Beds| 1 Baths $2,100 BAY STREET GROUP INC.
-
MLS® N12800574 32 Clegg Road PH10, Markham, ON L6G 0B2 2 Beds| 1 Baths $553,800 BAY STREET GROUP INC.
-
MLS® X12800602 230 Avonsyde Boulevard 11, Hamilton, ON L8B 1T9 4 Beds| 3 Baths $849,950 BAY STREET GROUP INC.
-
MLS® N12800790 10 Kimono Crescent, Richmond Hill, ON L4S 1X5 6 Beds| 6 Baths $2,298,000 BAY STREET GROUP INC.
-
MLS® W12802204 20 Camberley Crescent, Brampton, ON L6V 3L4 4 Beds| 3 Baths $799,999 BAY STREET GROUP INC.