TRREB Market Report Highlights - February 2024
A Spring Resurgence is on the Way!
- GTA home sales and new listings were up on an annual and monthly basis in February 2024.
- There were 5,607 GTA home sales reported in February 2024 – an increase of 17.9 per cent compared to this time last year.
- Home selling prices in February 2024 remained similar to February 2023. The average selling price of $1,108,720 increased by a modest 1.1 per cent.
- While a lot of home buyers are waiting for interest rates to drop, those who can weather higher rates in the short term are choosing to buy now while home prices are still lower than the past couple of years.
- Once rates begin to drop, many buyers will enter the market quickly and prices are bound to increase.
- Interest rates are short-term; the price you pay is locked in forever. There may be some real financial advantages to buying now.
Want more details? Check out TRREB's full report here.
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February 2024 vs. February 2023
February 2024 vs. January 2024
Click here to see Toronto Real Estate Board's Full Report
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