TRUSTWELL REALTY INC. Brokerage's blog

In August 2024, the average sold price was $1.074M, down 2.9% from July and 0.8% from August 2023. Sales dropped 7.7% month-over-month and 5.3% year-over-year, with 4,975 homes sold. This indicates a more significant cooling of sales compared to prices, reflecting caution in the market.

Condos experienced the most substantial decline, with prices falling 6.1% month-over-month and 4.5% year-over-year, while townhouses dropped 2.5% and 4.6%, respectively. Detached homes, by contrast, remained relatively stable with a minor 0.8% decline month-over-month. Buyers seem to be favoring larger...

There were more home sales in the GTA in July 2024 compared to July 2023 yet sales dropped by 13.2% from the previous month. Average home prices were close to last year and down 4.8% from last month.

New listings tapered a bit and active listings continued to be up 1.1% from last month. There was still a 55.4% increase of active listings from last year. Detached homes seemed to hold up value over the last year, while others dipped slightly.

Buyers were able to benefit from better pricing because of more choice and slight improvements to costs of borrowing. Further slowing of active...

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...

In May 2024, GTA real estate sales edged down 1.4% from last month and dropped by 21.7% from last year. Although prices were up slightly from April, they were down 2.5% over the last year.

The price of most home types were generally stable but semi-detached homes experienced the greatest growth of 3% over the last month. We have also seen the number of active listings almost double in the last 3 months while sales have only gone up by 25%.

Growth of supply continued to outpace growth of demand. During this time last year, interest rates began to increase leading to sharp declines in...

For April 2024, GTA real estate market monthly sales increased 8.4% and prices also went up 3.1%. From last year, sales dropped by 5% and prices stayed steady. Detached home prices rose by 1.8% while townhomes dropped by -3.7%.

Sales were down compared to last month while supply has grown quite significantly. Buyers enjoyed more choice but interest rates continue to keep affordability as a concern.

More homes were listed likely in anticipation of more buyer activity while buyers wait for interest rates to come down. Mortgages coming up for renewal have also played a role in motivating...

In March 2024, GTA real estate market saw a 17% sales increase from last month despite being 4.5% down from last year. Still, prices edged up a bit over 1% both monthly and yearly.

Compared to last year, average home prices remained somewhat the same, except semi-detached homes which gained 3.1%. On a monthly basis, we saw detached homes with the highest growth in price by 1.6% and volume by 16.0%.

New and active listings continued to grow and add to supply. Although we still saw relatively low sales across all home types, partly due to high interest rates, there was increased sales...

In February 2024, GTA real estate sales were up 17.9% from last year and 32.8% from last month. Prices were on the rise 1.1% from last year and 8.0% from last month.

The property types with highest activity growth were detached and semis, which respectively saw 40% and 35% more sales and sharp price increases from last month.

A surge of new listings contributed to a net increase of 1,009 active listings in spite of increased sales. So, buyers will continue to enjoy more choice.

On the other hand, if seasonality continues to bring more buyers, then there will be more competition. High...

In January 2024, the GTA saw a 22.6% rise in home sales from December 2023, 37.0% from the previous year. Prices decreased 1.0% compared to last year and 5.3% from the previous month.

Detached homes experienced the most significant monthly average price drop at 4.8% and the smallest sales growth compared to other property types, showing continued affordability challenges.

While buyers usually come back around this time, the surge in sales could also be attributed to lower fixed interest rates and expected rate decreases. Consumer confidence appeared to be on the rise toward the...

In December 2023, Toronto’s real estate sales volume was 11.5% greater than last year but down 18.7% from the previous month, which was due in part to seasonality. Prices were up 3.2% compared to last year while holding steady monthly.

Buyer activity for low rise homes improved compared to last year alongside modest price gains. In contrast, condo prices decreased almost 4% while volume was down slightly.

Buyers benefitted from the greater amount of choice and interest rates coming down, which proved helpful for the sellers of more expensive home types to get a higher price....

In November 2023, the GTA real estate market saw a decline in prices and volume compared to the previous month. While prices remained stable relative to last year, there was a notable 6% decrease in volume. 

Condos maintained their value from the previous month, whereas the average price decrease was driven by low-rise homes. The overall decrease may reflect a broader trend of increased options for buyers, giving them more bargaining power. 

Although active listings were still high relative to the last 2 years, that number was falling along with the number of new listings. If the...