Market Report Update!
Despite a lower March 2024 home sales result compared to last year, attributed partly to Good Friday in March versus April last year, the market remained competitive.
Greater Toronto Area REALTORS® reported 6,560 sales, down by 4.5% YoY, but with new listings up by 15%. Despite this, sales were down by 1.1% on a seasonally adjusted monthly basis, with new listings decreasing by 3% compared to February.
The first quarter ended with sales up by 11.2% YoY and new listings up by 18.3%. The MLS® HPI Composite benchmark saw a modest increase of 0.3% YoY, with the average selling price rising by 1.3% to $1,121,615.
On a seasonally-adjusted basis, the MLS® HPI Composite and average selling price increased by 0.2% and 0.7%, respectively, compared to February.
Are you wondering what this means for the value of your home?
Give us a call on 416-786-0035 or dm @boltonandclements and we'll provide you with expert advice on what this means to you specifically.
Yours in real estate,
Bolton & Clements Real Estate Group