01/08/2025
Here's a brief overview of the TRREB Market Watch Report for December 2024:
• Annual Sales: Slightly up by 2.6% compared to 2023.
• New Listings: Increased significantly by 16.4% year-over-year.
• Average Selling Price: Dipped slightly to $1,117,600, a less
than 1% decline from 2023.
• Market Conditions: Buyers had more negotiating power,
especially in the condo apartment market.
• December 2024: Home sales were down slightly from
December 2023, but new listings rose.
Overall, the market saw improved affordability due to lower borrowing costs and substantial Bank of Canada rate cuts in the latter half of the year.