TRREB Market Report Highlights - January 2024
The Market is Definitely Picking Up.
- Compared to this time last year, GTA homes sales in January 2024 increased by an impressive 37 percent, with 4,223 sales reported as compared to 3,083 in January 2023.
- The average selling price declined by a mere 1 percent, reaching $1,026,703.
- The number of new listings were up 6.1 percent, reaching 8,312. With the month of January showing a positive start to the year, many buyers started to re-enter the market and benefit from lower borrowing costs associated with fixed rate mortgage products.
- With spring market just around the corner and sales activity gaining strong momentum, we most likely are seeing the bottoming-out of prices. Expect an uptick in home sale prices as rates continue to hold, and possibly a storm of activity once they start dropping in the months to come.
Want more details? Check out TRREB's full report here.
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January 2024 vs. January 2023
January 2024 vs. December 2023
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