June 2024 GTA real estate sales volume dropped slightly by 11.4% from last month and 16.4% from last year. Prices were also down slightly by 0.3% from May and 1.6% below last year.
All home types experienced a decline in price from last month, especially semi-detached homes. Similarly, on a yearly basis, each home type experienced a decline in sale price but semi-detached home prices fell by 9.3%.
The growth in active listings and decline in sales volume was similar to last year, except there was a modest interest rate cut. The cut was not enough to sway significant buyers back into the market. Buyers benefited from more choice and lower prices overall.