GTA REALTORS Report September 2024 Stats
In September 2024, home sales in the Greater Toronto Area (GTA) increased by 8.5% year-over-year, with 4,996 transactions reported compared to 4,606 in September 2023. New listings also rose by 10.5%, reaching 18,089. The MLS® Home Price Index Composite benchmark dropped by 4.6%, while the average selling price declined by 1% to $1,107,291. Buyers benefited from more affordable market conditions driven by interest rate cuts and mortgage lending changes, especially in the condo and townhouse segments. These shifts, coupled with updated mortgage guidelines, are expected to boost market activity, particularly for first-time buyers.