HIM 4 Homes

TRREB's Market Watch Report for April 2024 Now Released 👀

April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year.

Greater Toronto Area (GTA) REALTORS® reported 7,114 sales through the Toronto Regional Real Estate Board (TRREB) MLS® System in April 2024 – down by 5% compared to April 2023. New listings were up by 47.2% over the same period. On a seasonally adjusted monthly basis, sales edged lower while new listings were up compared to March.

The MLS® Home Price Index (HPI) Composite benchmark was down by less than 1% year-over-year. The average selling price was up by 0.3% to $1,156,167. On a seasonally adjusted month-over-month basis, the MLS® HPI Composite was up by 0.4% and the average selling price was up by 1.5% compared to March.

Source:

Contact us to learn more about the GTA housing market:
Him Sadana
Broker
HomeLife Landmark Realty Inc., Brokerage
☎️: 416-799-2744
📧: [email protected]
www.Him4Homes.com

GTA Real Estate Market Starts the New Year the Same as It Ended Last Year

As we moved from 2022 into 2023, the Greater Toronto Area (GTA) housing market unfolded as expected. The number of January sales and the overall average selling price were similar to December 2022.

On a year-over-year basis, both sales and prices were down markedly, continuing to highlight the impact of higher borrowing costs on affordability over the last year.

Source:
Contact us to learn more about the GTA housing market:
Him Sadana
Broker
HomeLife Landmark Realty Inc., Brokerage
☎️: 416-799-2744
📧: [email protected]
www.Him4Homes.com

Sunset

The average selling price of a Toronto home decreased by roughly $10,000 last month as the increased cost of borrowing continued to weigh on the city’s real estate market.

Home prices in Toronto have now fallen by an average of 5.5% compared to November 2021, however TRREB points out that the declines have been more pronounced in the “more expensive market segments,” such as detached (11.3%) and semi-detached homes (13.9%).

In a news release, TREEB President Kevin Crigger said that while increased borrowing costs represent “a short-term shock to the housing market,” he still anticipates that the demand for housing will “pick up strongly” over the medium and long term, largely due to increased immigration.

Source:
Contact us to learn more about the GTA housing market:
Him Sadana
Broker
HomeLife Landmark Realty Inc., Brokerage
☎️: 416-799-2744
📧: [email protected]
www.Him4Homes.com