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As we step into April, let’s chat about the GTA housing market in March 2024. Here's the scoop:
Home Prices:
The average GTA home price in March was $1,113,600. Not too shabby!
Detached homes—they’re at $1.47 million on average.
Semi-detached homes? They’re at $1.12 million.
Freehold townhouses? A cool $1.04 million.
Condo apartments? They’re chillin’ at $700,000.
Sales Activity:
We had a 17% increase in home sales compared to last month. High-fives all around!
Year-over-year sales dipped a smidge by 4.9%.
It’s like a seesaw—balanced and ready for action.
Mortgage Rates:
The lowest 5-year fixed mortgage rate in Toronto is 4.64%. Time to crunch those numbers!
Market Condition:
The GTA market is doing the tango between buyers and sellers.
Sales to New Listings Ratio? It’s at 50%, which means we’re in a sweet spot.
Remember, real estate is like a rollercoaster—thrilling, with a few twists and turns.
Feel free to reach out with any questions or to schedule a consultation. Your real estate journey starts here!
Your trusty neighbourhood realtor,
Alim Sovani
Sovani Realty
647-963-1799
www.sovanirealty.com
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