TRREB Market Report Highlights - June 2024
Declining Home Sales in the GTA. Substantial Choice.
Increased Negotiating Power for Buyers.
- Compared to last June, GTA average home prices dropped 1.6 percent reaching an average price of $1,162,167.
- The number of homes sold in the GTA totaled 6,213 compared to 7,429 sold last June, a decline of 16.4 percent.
- New listings entering the market amounted to 17,964, an increase of 12.3 percent.
- Despite the Bank of Canada's interest rate cut at the beginning of June, sales were lower with many homebuyers placing their home buying decision at a hold.
- The market remained well supplied, leading to a slight dip in average selling prices. This meant homebuyers benefitted from substantial choice and negotiating power.
Want more details? Check out TRREB's full report here.
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June 2024 vs. June 2023
June 2024 vs. May 2024
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