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Toronto Real Estate Board December Marketwatch Report
GTA Home Sales in December 2024 took a dip from last month to 3,359 sales compared to 3,419 sales in December 2023. Buyers are starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices. Population growth and a resilient regional economy continued to support the overall demand for housing.
New listings were up to 4,681 properties an increase of 20.2 compared to 3,894 properties in December 2023. Active listings at the end of the year were 15,393 compared to 10,368 in 2023 which is an increase of 48.5%. Market conditions did tighten in December especially in the single-family property. There still remains a good amount of inventory and choice for buyers.
Average sale price was down slightly by 1.6% at $1,067,186 compared to December 2023 at $1,084,757.
Average days on the market for December was 36 days compared to 32 days in December 2023 - an increase of 12.5%.
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