The GTA housing market continued to tighten in August, with both home sales and new listings declining compared to last year. Home sales decreased 2.1% year over year, with 5,057 homes sold across the GTA, while new listings fell 14.1% to 12,075. With fewer homes available for buyers to choose from, competition could increase in some neighbourhoods and potentially put upward pressure on prices in the months ahead. 📈🏘️
The average selling price came in at $993,410, down 2.7% from last year, while the MLS® HPI Composite benchmark declined 4.5% year over year. 💼🔍
Compared to July, home sales edged lower on a seasonally adjusted basis, while new listings increased. At the same time, the MLS® HPI Composite benchmark remained essentially flat and the average selling price edged higher, pointing to early signs of stabilization as we head into the fall market. 📊
With inventory, buyer activity and pricing continuing to shift across the GTA, staying informed is more important than ever for both buyers and sellers.
Curious what these latest trends mean for your next move? Reach out to Bolton & Clements Real Estate Group for insights tailored to your real estate goals. 🏡✨
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