Market Update Alert! 🏡📉

August 2024 saw a slight dip in GTA home sales, down 5.3% compared to last year, with 4,975 homes sold. Despite the decline, new listings were up by 1.5%, keeping the market well-supplied. 📊🏘️

The average selling price edged lower by just 0.8% year-over-year, reaching $1,074,425, while the MLS® Home Price Index Composite benchmark dropped 4.6%. On a seasonally adjusted basis, August sales increased slightly from July, though prices saw a small decline. Buyers are still benefiting from 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 August 2024 Market Report reel on Instagram and see how the trends affect you. 🏡

Yours in real estate,

Bolton & Clements Real Estate Group