Description

In this episode, we dive into the SUPER EARLY trends shaping the Toronto Real Estate Market for September 2024, breaking down performance across key neighbourhoods and property types. We analyze data from the first three weeks of the month, comparing it to the same period last year, and explore how freehold properties, the luxury segment, and the condo market are faring. You'll get insights into average list prices, days on the market, and sales activity, along with broader economic factors influencing the landscape. Plus, we discuss market predictions and the growing focus on safety and buyer sentiment in today's environment.

QUICK TAKEAWAYS:

• The Toronto real estate market is currently experiencing moderate activity.
• Average days on the market for properties have notably increased.
• Despite expectations, the fall market has yet to see a surge of new listings.
• First-time buyers remain active, especially in trendy neighbourhoods.
• The luxury market is seeing a downward price adjustment.
• Condo sales are down, though quality listings are still selling.
• Safety concerns are influencing buyer decisions in certain areas.
• The market remains resilient, with prices holding steady in many regions.
• Economic uncertainty is affecting both buyer sentiment and overall market activity.
• Policy changes could positively impact the low-rise market.

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Speakers:

Ralph Fox (Co-Founder and Broker of Record at Fox Marin)

Kori Marin (Co-Founder and Broker at Fox Marin)