RSS

August 2024 Real Estate Market Update

August 2024 Real Estate Market Update

Market Update Alert! ๐Ÿก๐Ÿ“‰

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. ๐Ÿ“Š๐Ÿ˜๏ธ

The average selling price edged lower by just 0.8% year-over-year, reaching $1,074,425, while the MLSยฎ 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. ๐Ÿ’ผ๐Ÿ”

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. ๐Ÿก๐Ÿ”

Watch our August 2024 Market Report reel on Instagram and see how the trends affect you. ๐Ÿก

Yours in real estate,

Bolton & Clements Real Estate Group

This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the Toronto Regional Real Estate Board. The data is deemed reliable but is not guaranteed to be accurate.