Buyers continued to benefit from more choice in the GTA Bonnie Byford Real Estate Ltd. Brokerage [Video]

GTA REALTORS® Release July 2024 Stats

TORONTO, August 6, 2024 – 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 benefited from a slight relief in selling prices on average.

“It was encouraging to see an uptick in July sales relative to last year. We may be starting to see a positive impact from the two Bank of Canada rate cuts announced in June and July. Additionally, the cost of borrowing is anticipated to decline further in the coming months. Expect sales to accelerate as buyers benefit from lower monthly mortgage payments,” said TRREB President Jennifer Pearce.

GTA REALTORS® reported 5,391 home sales through TRREB’s MLS® System in July 2024 – a 3.3 per cent …