?? Toronto Market Update: Savvy Buyers Lock In Now Before Spring!
?? The Greater Toronto Area (GTA) real estate market in December 2024 presented notable opportunities for buyers!
?? Home Prices: The average home price dipped to $1,067,186, marking a -1.6% decline compared to 2023, and a -3.5% drop from November to December 2024. This trend offers buyers increased negotiating power, especially in the condo market
?? Inventory Levels: Active listings surged by +48.5% year-over-year, totaling 15,393. This abundance of available properties for sale, combined with low sales volumes, has created an exceptionally favourable market for buyers
?? Sales Volumes: December 2024 recorded 3,359 sales, a modest -1.8% decrease from December 2023, and significantly below the typical 5,000-6,000 sales seen in a balanced market. Sellers are experiencing longer days on the market before receiving offers, highlighting the exceptional opportunities available to savvy buyers who act now
?? Visit bit.ly/TorontoMarketDecember2024 for market predictions and advice, or reach out to Karen’s team to discuss your real estate goals at 647-836-2895