OCTOBER 2024 UPDATE: THE GTA & DURHAM REGION REAL ESTATE MARKET
Posted by Dan Plowman on
Welcome back to our monthly real estate market update, where we cover the latest insights for the Greater Toronto Area (GTA) and Durham Region. In October 2024, the market saw a noticeable increase in sales activity, supported by ongoing interest rate cuts and improving affordability. Here’s a breakdown of the key trends in both the GTA and Durham Region.
GTA Market Insights:
Sales Activity: GTA home sales rose by 44.4% year-over-year, reaching 6,658 transactions compared to 4,611 in October 2023. New listings saw a modest 4.3% increase year-over-year, totaling 15,328 properties. The higher sales volume compared to new listings indicates a tightening market.
Home Prices: The average selling price across the GTA increased slightly by 1.1%…
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