The Greater Toronto Area real estate market saw a rise in buyer activity in July 2024, with sales increasing compared to the same period last year. Despite this uptick, buyers continue to benefit from a well-supplied market, as new listings outpaced sales growth, providing more choices and slightly easing price pressures.
In July 2024, 5,391 home sales were reported, marking a 3.3 per cent increase from July 2023. New listings rose by 18.5 per cent year-over-year to 16,296, offering buyers a broader selection of properties. Despite the increased inventory, the average selling price was $1,106,617, down just 0.9 per cent from last July, indicating stable pricing amidst higher supply.
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