Happy New Year! Welcome 2024!

As 2024 emerges, the trend we are expecting to see in the real estate industry is the continuation of a downward shifting market, one that is geared towards buying opportunities. As the Bank of Canada maintains its position on the sidelines – making no adjustments to rates but choosing to stay, at least for now, in a holding pattern – we look to immigration and the great location we offer in the GTA to keep our market moving and offset further significant erosion in property values. Buyers are becoming acclimated to the higher rates and are realizing that there are considerable advantages to buying now instead of earlier, at the peak of the market in 2022. Sellers are recognizing that, from a historical perspective at least, our property values are still exceptional. Homes are still selling, albeit in greatly reduced numbers.

We hope to see some stabilization in pricing this year, but with almost half of all mortgages set to renew in 2024, that may be unlikely. Only time will tell, as the last two years have been nothing short of a roller coaster ride, with prices rising and lowering like the tide. Rest assured though, that any shift in market dynamics will be quickly identified by our team at RE/MAX Jazz and relayed to you, since we are the highest performing brokerage in the area for the past 13 years. Our position of strength makes us nimble and proactive, and that benefits our clients to no small degree.

Here are the stats for December 2023! ⁠

DISCLAIMER: The data for these stats have formulated with all due care, the Anderson Bruni Real Estate Team does not warrant or represent that the data is free from errors or omissions or that is exhaustive. The data represented by the Canadian Real Association, in cooperation with the Toronto Real Estate Board.

⁠As always, we are sincerely grateful for the opportunity to serve your real estate needs, and those of your family and friends, neighbours and co-workers.  It is a constant thrill to receive personal recommendations from our clients, and we have been so fortunate to be able to build our business on our name and reputation – and it’s all thanks to you! 
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