We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies.More info
North GroupNorth Group
Call Us:

(647) 559-5880

    Ask Us Anything
    Follow us
    The Team

    About Us

    • Meet Our Team
    • Our Culture Code
    • Read Our Reviews
    • Careers
    • Charity

    Our Services

    • Sell With Us
    • Buy With Us
    • Search for Homes
    • Commercial
    • Our Active Listings
    • Get Your Home's Value
    North Group

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    • (647) 559-5880
    • [email protected]

    Are you ready to play ‘ball’ with the spring market?!

    With just 10 days left, the race is heating up to the NBA 2024 Playoffs. 🏀  Just as the Celtics are trying to outmaneuver...

    • North Group
    • April 4th, 2024
    • 3 min read
    Featured Image

    With just 10 days left, the race is heating up to the NBA 2024 Playoffs. 🏀 

    Just as the Celtics are trying to outmaneuver the Nuggets, participants in the Toronto real estate market are also playing a game of precision and timing.

     

     What Is Actually Happening?🏠 

    It seems safe to say we are all starting to feel better about dealing with higher interest rates, and there's talk that these rates will start to come down in the months ahead. ⬇️ 

    This is making both buyers AND sellers feel…optimistic.

    As we usually see around this time, home prices in Toronto went up in the first quarter, and more homes are being sold. But, because more people are deciding to sell their homes, it's keeping prices from skyrocketing as buyers have options to choose from.

    There are more homes available now than there were at the same time last year, which shows that people are feeling more confident about the Toronto housing market. 💪🏼

    This increase in homes for sale is matching up well with the number of people looking to buy. 

    These factors are helping to keep the market stable.

     

     Let’s Look Closer At The Numbers 

     

     Sales are up 17% since last month 

    But are down 4.5% since last year

     

     New listings are up 15.10% since last year 

    And up 15.13% since last month

     

     Average sale price is $1,121,615 

    And is up 1.3% year over year

     

     Average days on the market = 20 Day 

     

     

     What You Need To Know Right Now 🧐 

    The Toronto housing market is slowly looking more promising.

    People are getting used to the current interest rates and feeling hopeful about the spring market, which is why we have seen an increase in listings since the start of 2024.

    The Toronto Regional Real Estate Board thinks that even though there might be fewer homes for sale later this year, more homes will continue to be sold, especially if interest rates start to drop in 2024.

    If this happens, the market might lean more in favour of sellers, which could mean higher sale prices towards the end of the year.

     

     We can’t predict the future, but we do know this… 

     

    Basketball isn’t the only game that has unexpected turns.

    The Toronto real estate market is dynamic and ever-changing. As we move through the spring market, players need to keep their game faces on, ready to adapt and pivot. 🏡

    And remember, in real estate, as in basketball, timing, preparation, and execution are key to securing the win. 

    So, whether you're buying or selling, the question remains: Are you ready to play ball this spring? 🏀

    Author Photo
    About the author

    North Group

    • facebook
    • instagram

    Similar posts like this

    5 Key Trends Every Toronto Home Buyer Should Watch For In 2024

    Toronto's real estate market is ever-evolving, presenting unique opportunities and challenges for home buyers. As we ste...
    Read more

    Market Report & Super Bowl…January Market Update

    What happens when the Real Estate Market Report and Super Bowl both happen in the same week? 📈🏈 We geek out and get a ...
    Read more

    What's It Cost? Homeownership Expenses Beyond Your Mortgage

    Discover the True Cost of Homeownership Beyond Mortgage Payments: From property taxes to maintenance, explore the additi...
    Read more
    North Group

    Your results matter most.

    Real Broker Ontario Ltd., Brokerage

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    Real Broker Ontario Ltd., Brokerage

    70 Jutland Road, Unit 16, Toronto, ON M8Z 2G6

    (647) 559-5880
    [email protected]

    Footer Links

    • About
    • Services
    • Buy With Us
    • Sell With Us
    • Reviews
    • Careers
    • Search For Homes
    • Listing Portfolio
    • Get Your Home's Value
    • Contact Us
    Join Our Email List:

    To Discover The Difference

    *We respect your inbox. We only send interesting and relevant emails.

    Real Broker Ontario Ltd., Brokerage © 2025

    Privacy Policy
    Powered by