🧐A very brief update on the current state of the real estate market.

Hello,
🧐A very brief update on the current state of the real estate market.

👉In August 2024, Greater Toronto Area (GTA) home sales dropped 5.3% year-over-year, with 4,975 sales reported.

👉 New listings saw a slight 1.5% increase, totaling 12,547.

👉Average home prices dipped 0.8% to $1,074,425, while the MLS® Home Price Index fell 4.6%.

👉TRREB President Jennifer Pearce noted that the Bank of Canada’s recent rate cut would improve affordability, especially for first-time buyers, driving demand in 2025.

👉TRREB analysts also highlighted the need for increased housing supply and more affordable options to support the region’s economic growth.


If you're interested in the real estate market in a specific area, please feel free to contact me, and I will do my best to answer all your questions.

☎️(416) 735-3158 Alla Poltavski Sales Rep


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