Home > Blog > All Articles
All Articles (73)
The Gallery One-Day Sales Event
Join radmarketing and Bay Street Group for a carefully curated exhibition showcasing the GTA’s finest pre-construction condo projects and unlock unbeatable deals to secure your future home or investment!
Bank of Canada Cuts Key Rate to 3.75% Amid Declining Inflation
On October 23, 2024, the Bank of Canada reduced its key lending rate from 4.25% to 3.75%, marking its fourth consecutive cut since June. This decision follows a decrease in Canada’s inflation rate from 2.7% in June to 1.6% in September, paving the way for further rate reductions to support economic stability.
In September 2024, the average DOM for the condo market in the City of Toronto was 34 days
Condos stayed on the market for an average of 34 days in the Central, while in West Region and East Region, they needed 36 days and 29 days to sell.
In the City of Toronto, detached homes were on the market for an average of 25 days in September
The East Region market was still the hottest, and houses were sold firm within 17 days.
Detached homes needed an average of 24 days to sell in the Central Region and 23 days in the West Region.
Resale Home Market in the City of Toronto (September 2024)
In September, the average selling price for detached in Toronto was $1.69 million, marking a year-on-year decrease of 2.2%, and there was also a 0.4% decrease compared to the previous month. Condo town and condo apart had average selling prices of $830k and $710k, respectively, with year-over-year declines of around 2-3%.
In September 2024, home sales in the Greater Toronto Area increased year-over year.
Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices.
New home sales in the Greater Toronto Area hit a historic low in August 2024, down 46% compared to last year
In August, 464 units were sold, a 46% decrease compared to last year. Condo apartments accounted for 235 of these sales, down 61% from August last year and 81% below the ten-year average. There were 229 new single-family homes sold, a 14% decrease from August last year and 56% below the ten-year average.
🚀 *Exclusive On-Site Preview* - The Glenwood Collection at The Towns on Bayview ✨
🚀 *Exclusive On-Site Preview* - The Glenwood Collection at The Towns on Bayview ✨
Total 8
Pages
Featured Listings
-
MLS® W12749428 150 Flemington Road 5, Toronto W04, ON M6A 0C5 3 Beds| 3 Baths $3,450 BAY STREET GROUP INC. -
MLS® W12749616 178 Breezy Pines Drive, Mississauga, ON L5B 1B4 51-99 | 4 Beds| 3 Baths $2,080,000 BAY STREET GROUP INC.
-
MLS® X12749888 64 Sherbourne Street, Port Hope, ON L1A 1H2 100+ | 3 Beds| 2 Baths $660,000 BAY STREET GROUP INC.
-
MLS® X12750052 251 Hemlock St N/A 308, Waterloo, ON N2L 0H2 6-10 | 2 Beds| 2 Baths $475,000 BAY STREET GROUP INC.
-
MLS® E12750272 8 Glen Watford Drive, Toronto E07, ON M1S 2C1 $50,000 BAY STREET GROUP INC.
-
MLS® E12750352 19 Crown Acres Court Bsmt, Toronto E07, ON M1S 4W1 2 Beds| 1 Baths $1,490 BAY STREET GROUP INC.
-
MLS® W12750380 18 Wiltshire Avenue, Toronto W03, ON M6N 2V9 5 Beds| 2 Baths $1,099,000 BAY STREET GROUP INC.
-
MLS® C12750414 308 Jarvis Street 2602, Toronto C08, ON M5B 0E3 New | 1 Beds| 1 Baths $2,000 BAY STREET GROUP INC.