One Minute Market Update - February-March 2024

February-March 2024 Key Takeaways: 

  • Average sale price in February was up 11% month over month and unchanged year over year. This is largely being effected by the Freehold market. 
  • February sees continued activity with another significant jump in buyer activity bith month over month and year over year. 
  • More inventory has also been hitting the market however it hasnt been enough to keep up with demand in the Freehold sector. 
  • The continuing trend of increased buyer activity in the Freehold market is causing the spike n average sale price however condos are remaining flat with no price dips or growth for now. If you are looking for deals, consider them gone from the freehold sector but there are still some potential deals lying around for condos if you know where to find them.
  • Running numbers after the first week of March, Toronto Freehold homes are down to 1.8 Months Of Inventory (Sellers Market) and Toronto Condos are down to 3.3 Months Of Inventory (Balanced Market).

Data below. 

*I intentionally like to keep these reports short and straightforward. If you have questions about any specific aspect of the market or want me to expand on the data shared, please reach out.