Toronto Real Estate Update - March 2024

March's home sales dipped by 4.5% due to Good Friday's timing, with a moderate price rise due to steady buyer competition. Sales hit 6,560, while new listings grew by 15% from last year.

Quarter Highlights:


  •  March 2024 home sales fell 4.5% due to holiday timing; slight price increase noted.

  •  6,560 homes sold; new listings up 15% from March 2023.

  •  Q1 sales grew 11.2% year-over-year; average price at $1,121,615.

  •  Market improving, with expectations of rising sales and prices.

Focus on innovative housing solutions to boost supply and affordability.




Market Insights:
TRREB President Jennifer Pearce sees market improvement and expects higher sales and prices with potential lower borrowing rates. Chief Market Analyst Jason Mercer predicts faster price growth as supply meets increasing demand.



Action for Housing:
Addressing housing supply through innovative and non-traditional solutions is essential for affordability and meeting the demand in key areas.
Stay updated on market shifts and opportunities!

Alexander Gasenko, Mortgage Broker
DLC Maple Mortgage Group, Lic #13415

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