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‘the numbers’ [march 2024]
by sutton old mill

➕March 2024➕

 

The Spring Market Poised for Acceleration! In March 2024, Toronto Real Estate saw a dip in home sales compared to last year, partly because Good Friday fell in March [vs. April] this year. Despite this, the market had more homes available, yet there was still enough interest from buyers, which nudged up average home prices vs. last year.

The real estate sector in the first quarter of 2024 has undergone a positive transformation in market conditions, with buyers adjusting to the higher interest rate environment. Additionally, sellers are more optimistic, expecting the continued demand in the spring market.

Looking ahead, with the anticipation of reduced borrowing costs, sales are expected to rise further, absorbing new listings and driving selling prices upwards. Price growth is projected to accelerate throughout the year, fuelled by increasing demand and more accessible borrowing options.

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 to us. We are here to guide you!

Looking to buy or sell a home in Toronto?  Average prices in March were as follows:

Detached $1,708,437 [0% vs. 2023]

Semi-detached $1,300,403 [+3% vs. 2023]

Townhouse $999,771 [+3% vs. 2023]

Condo $729,392 [0% vs. 2023]

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