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GTA REALTORS® Release June Stats TORONTO, ONTARIO, July 4, 2024 – Toronto Regional Real Estate Board June home sales in the Greater Toronto Area (GTA) dropped compared to last year, with a 16.4% decline in sales and a slight 1.6% dip in the average selling price. Despite the Bank of Canada's recent rate cut, buyers remain cautious. The market is well-supplied with a 12.3% increase in new listings, offering buyers more choices. TRREB highlights the need for multiple rate cuts to stimulate significant sales growth. The average selling price for June 2024 was $1,162,167. Population growth and government action remain crucial for long-term housing demand and supply. Read more on the @TRREB website https://lnkd.in/gcvEx4r5 Denise Dilbey Broker; CCIM; SRS; ABR; CIPS: SRES; MCNE; GREEN; FRI www.link2realestate.ca/ Royal LePage Meadowtowne Realty #RealEstate #TorontoHousing #MarketUpdate #TRREB #HomeSales #BuyersMarket #MortgageRates #HousingMarke

🌸 Exciting news for home buyers! A surge in real estate activity is expected in Ontario and across Canada this spring 2025. After a few years of slow sales, we might finally see a lively market kicking off as early as March! 🏡 With the Bank of Canada recently cutting interest rates to 3.75%, many buyers could be motivated to jump back in. While May 2024 saw the lowest home sales since 2021, new listings were near 2021 and 2022 highs, offering more choices and less competition. Get ready for increased competition as sidelined buyers return this spring! And as buyer activity escalates, we might see more sellers listing their properties. It's shaping up to be an interesting and dynamic market! 📈✨ Jagmohan Sabharwal, Ph.D. ABR® SRS RENE Real Estate Broker Executive Real Estate Services Ltd., Brokerage ✉️ jagmohan.realtor@gmail.com 📲 416-877-4680 🌐 www.jagmohansabharwal.ca #RealEstate #Spring2025 #HomeBuying #JagmohanSabharwal #ExecutiveRealEstateServices

🌸 Exciting news for home buyers! A surge in real estate activity is expected in Ontario and across Canada this spring 2025. After a few years of slow sales, we might finally see a lively market kicking off as early as March! 🏡 With the Bank of Canada recently cutting interest rates to 3.75%, many buyers could be motivated to jump back in. While May 2024 saw the lowest home sales since 2021, new listings were near 2021 and 2022 highs, offering more choices and less competition. Get ready for increased competition as sidelined buyers return this spring! And as buyer activity escalates, we might see more sellers listing their properties. It's shaping up to be an interesting and dynamic market! 📈✨ Jagmohan Sabharwal, Ph.D. ABR® SRS RENE Real Estate Broker Executive Real Estate Services Ltd., Brokerage ✉️ jagmohan.realtor@gmail.com 📲 416-877-4680 🌐 www.jagmohansabharwal.ca #RealEstate #Spring2025 #HomeBuying #JagmohanSabharwal #ExecutiveRealEstateServices

Market Update: June 2024 📊 June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB). Despite the Bank of Canada rate cut at the beginning of last month, many buyers kept their home purchase decisions on hold. The market remained well-supplied, resulting in a slight dip in the average selling price compared to June 2023. “The Bank of Canada’s rate cut last month provided some initial relief for homeowners and home buyers. However, the June sales result suggests that most home buyers will require multiple rate cuts before they move off the sidelines. This follows Ipsos polling for TRREB, which suggested that cumulative rate cuts of 100 basis points or more are required to boost home sales by any significant amount,” said TRREB President Jennifer Pearce. Stay tuned for further updates on Toronto’s dynamic real estate landscape! 🇨🇦 Lucho Chirinos #realestate #realestatepartners #realestateagent #realestateinvestor #realestateinvesting #realestateontario #realestatecanada #Ontario #HolaGroup

Canadian real estate markets are witnessing a cautious yet optimistic resurgence. In September, the Canadian Real Estate Association (CREA) reported a slight uptick in home sales nationwide following the third consecutive interest rate cut by the Bank of Canada. This development suggests potential relief for buyers and sellers who have been navigating a turbulent market landscape. The beginning of September saw a burst of new supply for buyers to choose from before things generally quiet down for the winter,” said James Mabey, CREA Chair. “While some buyers may choose to take advantage, others may be inclined to wait as the bulk of future rate cuts from the Bank of Canada are now expected to show up in a matter of months as opposed to years. Whether you’re looking to buy or sell a property this fall or getting ready for what promises to be a big spring market next year. 📊 What the numbers say According to the report, national home sales rose 0.9% last month, reaching their highest level since July 2023. This slight boost in sales was led by the Greater Toronto Area and Hamilton-Burlington, Montreal and Quebec City, as well as Greater Vancouver and Victoria. Sales gains are now three for three in the months following interest rate cuts, which is a trend even though the increases weren’t headline-grabbing,” said Shaun Cathcart, CREA’s Senior Economist. 🏠 Inventory and new listings In September, new property listings saw a 4.9% increase from the previous month, with a notable influx of listings during the initial weeks. By the end of September 2024, there were 185,427 properties listed for sale across all Canadian MLS® Systems, marking a 16.8% increase from the same period last year, although this figure still falls short of the historical September average of approximately 200,000 listings. Aida Ahmadi 🤝 I'm always by your side 📱 416-262-6702 📧 sold@aidaahmadi.com 🏘️ www.aidaahmadi.com Please call/DM to buy, sell, lease and refer. Buy | Sell | Lease | Refer Your Trust | Our Results #homebuying #realestateadvice #realestatetips #housingmarket #localrealtor #realestate #realestateinvesting #marketupdate

🏙️ Your June Toronto & Mississauga Real Estate Update! “”The Bank of Canada’s rate cut last month provided some initial relief for homeowners and home buyers. However, the June sales result suggests that most home buyers will require multiple rate cuts before they move off the sidelines. This follows Ipsos polling for TRREB, which suggested that cumulative rate cuts of 100 basis points or more are required to boost home sales by any significant amount,” said TRREB President Jennifer Pearce. “The GTA housing market is currently well-supplied. Recent home buyers have benefitted from substantial choice and therefore negotiating power on price. Moving forward, as sales pick up alongside lower borrowing costs, elevated inventory levels will help mitigate against a quick run-up in selling prices,” said TRREB Chief Market Analyst Jason Mercer.” 📲 Reach out to me and let’s discuss how you can take advantage of this inventory opportunity like many of my clients have and secure a great deal on your new home or condo! 905-510-4247 nick.humeniuk@kw.com Nick Humeniuk | Sales Representative Keller Williams Signature Realty #toronto #torontorealestate #mississauga #mississaugarealestate #realestate #marketupdate #housingmarketupdate #homesweethome #firsttimehomebuyer #realtor #luxuryrealestate #realestateinvesting

🏡 Talk Real Estate Tuesday! 📈 📣 Breaking News: TRREB Reports More Choice for Home Buyers in April 2024! 🎉 In April 2024, home sales saw a slight dip compared to last year's temporary surge, but here's the exciting part - new listings soared by a whopping 47.2% year-over-year! 📈 What does this mean for you? Increased options and little movement in average selling prices compared to last year. 💰 🌆 Key Highlights: GTA REALTORS® reported 7,114 sales in April 2024, down by 5% from April 2023. However, new listings surged by 47.2% over the same period, offering home buyers more choices. TRREB President Jennifer Pearce anticipates a rise in demand for housing this spring, with many buyers waiting for potential rate cuts from the Bank of Canada. The MLS® Home Price Index (HPI) Composite benchmark saw a slight decrease year-over-year but a 0.3% increase in the average selling price. TRREB Chief Market Analyst Jason Mercer suggests that lower borrowing costs may lead to tighter market conditions and renewed price growth in the future. TRREB CEO John DiMichele emphasizes the importance of aligning housing policies to achieve affordability and choice for residents. 🔍 Looking Ahead: With government commitments to improve affordability and choice, the real estate landscape is evolving. Stay tuned for more updates on how these changes could impact you! 📊 #RealEstate #TRREB #HomeBuying #MarketTrends #TorontoRealEstate #TalkRealEstateTuesday #KristaTowellAllRealEstate

Your Market Update: For June 2024 Despite a rate cut by the Bank of Canada early last month, many potential buyers remained cautious, holding off on their home purchase decisions. This resulted in a decline in home sales and a well-supplied market compared to the same time last year. The recent Bank of Canada rate cut provided initial relief but hasn’t yet spurred significant buyer activity. Industry consensus is that multiple rate cuts totalling approximately 100 basis points or more might be needed to boost home sales significantly. The current well-supplied market offers buyers substantial choice and negotiating power. This condition is expected to continue as sales pick up with potentially lower borrowing costs, preventing a rapid increase in selling prices. However, as always, not all home sales are the same, with certain micro-neighbourhoods and home types still experiencing bidding wars. Despite the continuing sales dip, largely a result of high interest rates, strong population growth is driving long-term demand for both ownership and rental housing. In this dynamic landscape, it is vital to have a trustworthy and knowledgeable realtor by your side. Whether you’re considering selling or buying a property, or if you have any real estate inquiries, feel free to reach out. We are here to guide you! Looking to buy or sell a home in Toronto? Average prices in June were as follows: ➕Detached $1,758,649 [-1% vs. 2023] ➕Semi-detached $1,282,973 [-9% vs. 2023] ➕Townhouse $1,008,467 [-2% vs. 2023] ➕Condo $763,148 [-1% vs. 2023] *Source TREB For questions about the Toronto Real Estate Market, contact Susan Sterbinsky & Co. today! 😎 SUSAN STERBINSKY, B.A., SALES REPRESENTATIVE SUTTON GROUP OLD MILL REALTY INC. #40 – 74 JUTLAND ROAD TORONTO, ON M8Z 0G7 DIRECT: 416-277-2232 📞 EMAIL: SUSAN@ARRIVEATHOME.CA 📩 #susansterbinsky #arriveathome #realestate #torontorealtor #marketstats #housingmarket #luxuryrealestate

𝐆𝐓𝐀 𝐇𝐨𝐦𝐞 𝐒𝐚𝐥𝐞𝐬 𝐂𝐥𝐢𝐦𝐛 𝐢𝐧 𝐉𝐮𝐥𝐲 𝟐𝟎𝟐𝟒: 𝐌𝐨𝐫𝐞 𝐋𝐢𝐬𝐭𝐢𝐧𝐠𝐬, 𝐋𝐨𝐰𝐞𝐫 𝐏𝐫𝐢𝐜𝐞𝐬 Home sales in the Greater Toronto Area increased by 3.3% in July 2024 compared to last year, with 5,391 homes sold. New listings rose by 18.5%, offering buyers more options and a slight price decrease. TRREB President Jennifer Pearce attributes this growth to recent Bank of Canada rate cuts, expecting further acceleration as borrowing costs drop. The average selling price was $1,106,617, down 0.9% from July 2023, while the MLS® Home Price Index Composite benchmark fell by about 5%. TRREB Chief Market Analyst Jason Mercer forecasts stable prices initially, with potential growth as inventory decreases. Read more on the Toronto Regional Real Estate Board website https://trreb.ca/ or reach out to me for more insights and to explore your real estate options; Denise Dilbey Broker; CCIM; SRS; ABR; CIPS: SRES; MCNE; GREEN; FRI www.link2realestate.ca/ Royal LePage Meadowtowne Realty #RealEstate #TorontoHousing #MarketUpdate #TRREB #HomeSales #BuyersMarket #MortgageRates #HousingMarke

🏡📈 In April 2024, home sales in the GTA experienced a decline compared to the previous year, even with a rise in new listings. The average selling price remained relatively steady. Homeowners expect higher demand, but many potential buyers are holding off for the Bank of Canada to lower its policy rate. Despite numerous options for buyers, selling prices saw minimal change. However, with anticipated lower borrowing costs, market conditions are expected to tighten, resulting in renewed price growth. Various levels of government have announced initiatives to enhance housing affordability and choice, but greater alignment is necessary to produce concrete outcomes. Pirasha Vygunthavasan, ABR, SRS Real Estate Broker 📱647-409-1719 📧realtorpirasha@gmail.com #HousingMarket #RealEstate #MarketUpdate #TRREB #Remax #InterestRates #MarketInsights #BankofCanada #RealtorPirasha