GTA Housing Market Overview
▪️ Strong sales momentum across all asset classes.
▪️ Average home sale price: $1,026,703, similar to 2023.
▪️ 8.5% yearly increase in total active listings.
▪️ 36% yearly growth in sales, indicating buyer confidence.
Market Dynamics:
▪️Detached market: $1,350,828 average sales price, 26% sales increase.
▪️ Semi-detached market: $1,038,303 average sales price, 42.9% sales increase.
▪️ Condo market: 40.5% increase in total sales.
▪️ Townhouse segment: 59.5% yearly sales increase.
Expert Advice and Outlook:
▪️ Opportunity for homebuyers before potential interest rate cuts.
▪️ Caution against timing mortgage rate changes.
▪️ Positive start to 2024, expecting renewed market strength.
▪️ Buyers and sellers advised to stay informed as the market unfolds.
