March 2024 Market Update

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Toronto & GTA

Toronto Regional Real Estate Board (TRREB) anticipates price growth to accelerate during the spring and further into the second half of the year, fueled by a predicted reduction in borrowing costs and a catch-up in sales growth to listings growth. This is expected to lead to sellers’ market conditions in many neighbourhoods.

Quarterly Trends
: The first quarter of 2024 ended with an 11.2% increase in sales and an 18.3% increase in new listings compared to the same quarter in 2023.

Pricing Trends: The average selling price in March 2024 increased by 1.3% from the 2023  to $1,121,615. In 2024: Month-over-month, the average selling price increased by 0.7% from February 2024.

Future Outlook:  There is a focus on increasing the housing supply to improve affordability through innovative solutions such as co-ownership models and encouraging gentle density in high-demand areas like the Greater Golden Horseshoe.

Caledon

Bolton

Muskoka

Even with signs of early Spring then Winter wanting to sneak back in, people seem a bit more anxious to get outside and be able to enjoy Mother Nature in her finest, so we are seeing more inquiries and activity for viewings.  It also is allowing for people to consider listing in town properties earlier than normal.

While access to properties is important, now more than ever is the time to ask questions of a trusted real estate professional who knows the area. With an abnormal winter what might you expect in future years? We can help you understand what is happening in your area with up to the minute numbers and comparable listings that truly reflect the current market.


Have you been thinking about moving? Do you wonder if now is the right time to buy or sell? Wondering what your home is worth today with the shifting real estate market? Perhaps you’ve been searching for that one-of-a-kind property, but just can’t find it?

We can help answer your questions, provide you with a free no-obligation Home Valuation and help you find that perfect property.

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