Greater Toronto Area (GTA) - September 2024 Stats
Home Prices:
- Average Selling Price: $1,107,291
- Price Growth: 2.8% decrease year-over-year
- Detached Homes: $1,423,056
- Att/Row/Townhouse: $982,656
- Condominiums: $750,000
Sales Volume:
- Total Sales: 4,996 (down 8.5% from last year)
- New Listings: 18,906 (up 10.5% from last year)
Days on Market (DOM):
- Average Days on Market: 27 days (up from 35 days last year)
Supply vs. Demand:
- Increased listings resulted in a better-supplied market and more negotiating power for buyers re-entering the market.
- Inflation: Down to 2%
Interest Rates:
- Bank of Canada Overnight Rate: 4.3% for 5-year fixed
Peel Region - September 2024 Stats
Home Prices:
- Average Selling Price: $1,058,346
- Detached Homes: $1,317,472
- Semi-Detached Homes: $960,118
- Condominiums: $675,000
Sales Volume:
- Total Sales: 907 (down 8% from last year)
- New Listings: 3,150 (up 4% from last year)
Days on Market (DOM):
- Average Days on Market: 26 days (up from 18 days last year)
Supply vs. Demand:
- Months of Inventory: Balanced market leaning toward buyers (down 10% from last year
Greater Toronto Area (GTA) home sales increased year-overyear in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices.