Home > Blog > Market News
Market News (17)
🔈BSG News: Bank of Canada Maintains Policy Rate at 2.25%🔈 On January 28, 2026
🔈BSG News: Bank of Canada Maintains Policy Rate at 2.25%🔈
On January 28, 2026, the Bank of Canada announced it will hold the overnight policy rate at 2.25%, with the Bank Rate at 2.5% and t...
GTA new home sales remain low in January – but with prices down and inventory up
GTA new home sales remain low in January – but with prices down and inventory up, buyers have a unique opportunity in the months ahead.
In October 2024, home sales in the Greater Toronto Area increased strongly year-over-year in October 2024.
In October 2024, home sales in the Greater Toronto Area increased strongly year-over-year in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter market conditions compared to October 2023. The average selling price was up slightly on an annual basis.
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.
Total 2
Pages
Featured Listings
-
MLS® C12751920 5 Sheppard Avenue E 3916, Toronto C14, ON M2N 2Z8 1 Beds| 1 Baths $2,500 BAY STREET GROUP INC. -
MLS® X12752080 378 East 24th Street, Hamilton, ON L8V 4V2 3 Beds| 3 Baths $814,900 BAY STREET GROUP INC.
-
MLS® C12752684 11 Brunel Court 4210, Toronto C01, ON M5V 3Y3 3 Beds| 2 Baths $3,650 BAY STREET GROUP INC.
-
MLS® W12752940 3200 William Coltson Avenue 204, Oakville, ON L6H 7W6 0-5 | 2 Beds| 1 Baths $499,900 BAY STREET GROUP INC.
-
MLS® N12753872 400 Esna Park Drive 4, Markham, ON L3R 3K2 $18 BAY STREET GROUP INC.
-
MLS® N12755062 3450 Denison Street, Markham, ON L3S 0E9 3 Beds| 4 Baths $1,149,000 BAY STREET GROUP INC.
-
MLS® E12755104 14 Mccartney Avenue, Whitby, ON L1R 2Y3 3 Beds| 3 Baths $2,900 BAY STREET GROUP INC.
-
MLS® N12755646 8130 Birchmount Road 29, Markham, ON L6G 0E4 $238,000 BAY STREET GROUP INC.