Top 4 Highlights from Toronto’s Real Estate Activity in September 2024
New listings rose this month to 18,059, up 10.5% from September 2023
Currently there are 25612 active listings in Toronto, an increase of 35.5% from the same time last year.
Listings are lasting 27 days on the market, an increase of 35% over September 2023.
Average price of homes dropped by 1% compared to same time last year, from $1,118,215 to $1,107,291.
The Product Breakdown by AREA CODE reveals more insights!
In the 416
Average Price for Detached Homes dropped by -2.4%, currently $1,685,755
Average Price for Semi-detached homes increased by +1.3%, currently $1,299,324
Average Price for Townhomes decreased by -1.7%, currently $978,343
Average Price for Condo apartments fell -3.5%, currently $707,917
In the 905
Average Price for Detached Homes dropped by -0.5%, currently $1,333,394
Average Price for Semi-detached homes decreased by -2%, currently $949,609
Average Price for Townhomes dropped by -4.1%, currently $887,023
Average Price for Condo apartments fell -4.1%, currently $633,606
The Monthly Comparison from August to September 2024 signals that the market is rebounding cautiously.
Sales Activity increased slightly by 22 listings.
Average home price increased by $32,866.
New listings shot up by 5,542.
Average days on market reduced by one day.
What does this mean for Sellers and Buyers?
I advise sellers to put their place on the market now, ahead of the holiday season when fewer buyers are actively looking. The well-kept home in a desirable neighbourhood will sell well this fall.
I advise buyers to start shopping today because the best inventory sells quickly, within 10 business days, and it’s still a buyer’s market. Buyers can negotiate and avoid bidding wars by moving quickly and confidently.
Get your mortgage pre-approval today and have your deposit ready to make an offer.
Call or Text Donald Bilodeau, Mr. Real Estate Toronto, at 416-476-3554 or send me an email at donald@donaldbilodeau.com. I want to work for you!
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