Danielle was a guest with Jim Goddard on Talk Digital Network, talking about recent developments in the world economy and markets. You can listen to an audio clip of the segment here.
Also, see, Toronto home prices fall as active listings surge:
Home sales were down 5.3 per cent in August compared to the same time last year, and decreased by 7.7 per cent compared to July. New listings were up slightly year-over-year and active listings surged by 46.2 per cent, the report said.
Historically, the GTA’s real estate market is known for its lack of supply, but there is now plenty of choice. The last time this happened was during the 2008-09 financial crisis and the early months of the pandemic, Mercer said. As interest rates continue to drop, active listings will also decrease, he added.
The average selling price was down by 0.8 per cent compared to August 2023 to $1,074,425 — on a seasonally adjusted basis, the average selling price edged lower compared to July.
Home prices across all property types in the GTA dropped with detached, semi-detached, townhouse, and condos seeing a 0.3 per cent, 3.9 per cent, 4.6 per cent, and 4.5 per cent decrease, respectively.
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