*This an update for Toronto as a whole and things can look very different between different areas and home types. If you would like to dig deeper into the numbers that matter more to you, please book a call with me here.
Key Takeaways:
Prices have come down a little bit.
There are lots of options for buyers right now.
If things continue moving as they are now, prices will come down more.
The Bank of Canada interest rate announcement has had no effect on the market so far.
The summer is a slow time for real estate and I expect things to be slow until at least September.
Looking at numbers after the first week of July, Toronto Freehold homes are now up in a Balance Market at 3.2 Months Of Inventory and Toronto Condos are up in a Buyers Market at 5.6 Months Of Inventory.
Data below.
