Market Update Alert! 🏡📈

July 2024 brought positive trends to the Greater Toronto Area (GTA) housing market. Home sales increased by 3.3% year-over-year, totaling 5,391. Buyers benefited from more choices with new listings surging by 18.5%. 📊🏘️

Greater Toronto Area REALTORS® reported the average selling price at $1,106,617, a slight 0.9% dip from July 2023. The MLS® Home Price Index Composite benchmark decreased by approximately 5% year-over-year. 📉

On a seasonally adjusted monthly basis, both the MLS® HPI Composite and average selling price edged up from June 2024, indicating a resilient market. Buyers continue to enjoy more options and competitive pricing. 💼🔍

Are you wondering what this means for the value of your home? DM us @boltonandclements, and we'll provide you with expert advice on what this means for you specifically. 🏡🔍

Watch our July 2024 Market Report reel on Instagram and see how the trends affect you. 🏡📉

Yours in real estate,

Bolton & Clements Real Estate Group