The Toronto real estate market continues to show strength, despite some fluctuations over the past year. As we approach the end of 2024, let’s take a look at the latest trends and consider whether now is the right time for you to buy or sell.
Average Selling Price:
- September 2022: $1,086,538
- September 2023: $1,118,215
- September 2024: $1,107,291
While the average selling price has seen a slight decrease from its peak in September 2023, it remains well above pre-pandemic levels. This indicates that the Toronto housing market is still a strong seller’s market.
Market Outlook:
Several factors are contributing to the ongoing strength of the Toronto real estate market:
- Limited supply: The number of available homes for sale in Toronto remains relatively low, which is driving up prices.
- Strong demand: There is strong demand for housing in Toronto, fueled by population growth, job creation, and low interest rates.
- Investor activity: Investors continue to be active in the Toronto real estate market, which is further supporting demand.
Is Now the Right Time to Buy or Sell?
If you’re considering buying or selling a home in Toronto, now might be a good time to make your move. However, it’s important to consult with a real estate professional, like myself, to get personalized advice based on your specific circumstances.
Here are some factors to consider:
- Your financial situation: Can you afford the down payment and monthly mortgage payments?
- Your timeline: Do you need to move immediately or can you wait?
- Your long-term goals: Are you planning to stay in the home for many years or are you looking for a short-term investment?
If you’re ready to discuss your real estate goals, please contact me via phone 647-995-3391 or via email [email protected]. You can also visit my website by clicking here. I can provide you with more information about the Toronto real estate market and help you make informed decisions.
