Market Update Alert! 🏡📊
June 2024 saw a mixed market in the Greater Toronto Area (GTA). Home sales totaled 6,213, reflecting a 16.4% decline compared to last year. Despite a Bank of Canada rate cut, many buyers paused their purchase decisions. 📉🏠
New listings increased by 12.3% year-over-year, providing a well-supplied market. Greater Toronto Area REALTORS® reported the average selling price at $1,162,167, a slight 1.6% dip compared to June 2023. The MLS® Home Price Index Composite benchmark also showed a 4.6% year-over-year decrease. 📉
On a positive note, both the average selling price and the MLS® HPI Composite were up on a seasonally adjusted monthly basis from May 2024, showing signs of market resilience. 📈
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.
Unlock the latest insights on the GTA real estate market! 📊 Watch our June 2024 Market Report reel on Instagram and see how the trends affect you. 🏡📉
Yours in real estate,
Bolton & Clements Real Estate Group