GTA Real Estate Market Sees Sales Activity, Prices Climb as Consumers Anticipate a Drop in Interest Rates.

Dated: March 11 2024

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The Greater Toronto Area (GTA) housing market witnessed a strong surge in activity
throughout February, setting an optimistic tone for the region's real estate market as we move into Spring. With a total of 5,607 homes sold, representing an impressive 33% increase from the previous month and a notable 17% rise compared to the same period last year, the market demonstrated renewed vigour. Heightened sales activity translated into a substantial uptick in property prices, with the average home fetching $1,108,720—an impressive monthly increase of $82,017. Notably, this 8% gain marks the largest month-over-month increase since February 2022.
Across all asset classes, there were notable gains in both average sales prices and total monthly sales, signalling a robust start to the year as compared to 2023. Responding to this heightened demand, sellers have re-entered the market with listings, resulting in a monthly total of 11,102 active listings, a 15% yearly increase that offers promise for bolstered inventory levels in 2024, following a year of anemic supply. read more....
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June Gill

Reliable, Relatable, Results! Hi there. Are you looking for a trusted partner to guide you through the complex world of real estate? Look no further. Whether you are a first-time homebuyer, seasoned....

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