GTA Stakeholders Report- October 2024

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Dear Friends and Neighbors,

As we transition into the final quarter of 2024, the changing real estate market brings fresh opportunities, especially here in Thornhill. Our latest data reveals some promising trends home sales in Thornhill have held steady. Additionally, we’ve seen homes staying on the market longer, with an increase in the average number of days listed. While this gives buyers more time to make thoughtful decisions, it also means that sellers may need to be more patient with the process, as properties are taking longer to sell.

For homeowners, this is an excellent time to assess your next steps, whether you're looking to sell or simply organize your home for the new year Our team at Kirby Chan & Co is ready to guide you through these changes, ensuring your property stands out in this evolving market

In this special issue of the Stakeholder Report, we’re also celebrating two years of connecting with you through this publication. To commemorate this milestone, we’ve included a dedicated page reflecting on our journey, highlighting all the cover pages from previous editions. Your support has been instrumental in our growth, and we’re excited to continue this journey together.

As we look ahead to 2025, we’re here to help you make the most of the market Whether you're buying, selling, or simply exploring your options, let’s work together to make your real estate dreams a reality

“We want to extend our heartfelt thanks to the community for following along with our journey over the past two years through every issue of the Kirby Chan & Co Stakeholder Report

Your support, feedback, and insights have been invaluable in helping us make each edition more meaningful and impactful Every comment you ’ ve shared has guided us in better serving you and building a stronger, more connected community Here's to many more milestones together thank you for being a part of our story!"

Thornhill Real Estate Market

Quarter 3 2023 vs 2024

In the third quarter of 2024, the real estate market showed mixed trends across communities The average sale price dropped by 73% to $115 million, while total home sales rose by 33% with 155 properties sold Homes stayed on the market longer, with an increase of 50.6% in days listed.

Commerce Valley and Grandview saw strong sales growth, with increases of 417% and 643% respectively Thornlea experienced a significant price rise of 337%, while Royal Orchard and Bayview Glen recorded declines Despite price drops in some areas, buyer interest remained strong in German Mills and Bayview Fairway, both seeing notable sales growth

Thinking of Selling Your Home?

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