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Market update week ending August 9th

13 August 2024
Eileen Wylie

Greater Toronto Area (GTA) home sales in July 2024 were up compared to July 2023. While sales were up from last year, buyers continued to benefit from more choice in the GTA marketplace, with annual growth in new listings outstripping that of sales. The better-supplied market meant that buyers also benefitted from a slight relief in selling prices on average.

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Market update for week ending August 2nd

06 August 2024
Eileen Wylie

Toronto rents hit three-year low but brace for a swift comeback: Urbanation Toronto’s housing market offered a rare moment of relief for renters, as average rents dropped for the first time in three years. According to Urbanation Inc., a real estate consulting and market research firm, average condo rents were down 1.2 percent year-over-year in the second quarter — the first annual decline since 2021, following the onset of the pandemic. However, Urbanation warns the reprieve isn’t likely to last long.

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