➕ The Numbers for September are in! ➕
Toronto’s housing market gained a little momentum in September as buyers responded to the Bank of Canada’s rate cut and slightly more affordable borrowing conditions. Still, plenty of households remain cautious, with overall sales and prices sitting below typical levels for this time of year.
Market dynamics shifted as more buyers came off the sidelines, but with strong listing supply, many were able to negotiate prices downward. Inventory remains healthy, with more than 10,000 new listings across Toronto, giving buyers options and leverage in negotiations.
While September sales were up 14% year-over-year, activity is still below long-term norms. If the Bank of Canada follows through with additional rate cuts later this year, monthly mortgage costs could align more closely with incomes, encouraging more buyers to re-enter the market.
For now, preparation, pricing, and strategy remain key in this transitional market. If you’re considering making a move this fall, let’s plan your next step with today’s market conditions in mind.
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Data presented is for City of Toronto Only. Source: TRREB.
Toronto’s housing market gained a little momentum in September as buyers responded to the Bank of Canada’s rate cut and slightly more affordable borrowing conditions. Still, plenty of households remain cautious, with overall sales and prices sitting below typical levels for this time of year.
Market dynamics shifted as more buyers came off the sidelines, but with strong listing supply, many were able to negotiate prices downward. Inventory remains healthy, with more than 10,000 new listings across Toronto, giving buyers options and leverage in negotiations.
While September sales were up 14% year-over-year, activity is still below long-term norms. If the Bank of Canada follows through with additional rate cuts later this year, monthly mortgage costs could align more closely with incomes, encouraging more buyers to re-enter the market.
For now, preparation, pricing, and strategy remain key in this transitional market. If you’re considering making a move this fall, let’s plan your next step with today’s market conditions in mind.
••••••
Data presented is for City of Toronto Only. Source: TRREB.
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