MACKEY & McCORMICK

Our Real Estate Update June 2024

Posted on Jul 08, 2024

After four years of elevating borrowing costs, interest rates finally dropped in June, leading to buyer optimism. However, as the June data indicates, this has not yet translated into increased sales. Sales fell to 6,213, marking a 16 per cent decline compared to the same period last year. Despite this, there are reasons for optimism for both buyer...

Our Real Estate Update May 2024

Posted on Jun 11, 2024

In the GTA, May home sales remained slower than average, however in the wake of an interest rate decrease, an increase in sales activity is on the horizon for the second half of 2024. While sales were subdued, prices were once again resilient. The average selling price of $1,165,691 was down by 2.5% over the May 2023 result of $1,195,409. On a seas...

Our Real Estate Update April 2024

Posted on May 08, 2024

In April, the GTA witnessed an increase in new listings, seeing 18,088 properties available for sale. Notably, this is the highest April inventory in the city since 2018. More properties for sale is welcome news for buyers who have been grappling with inventory scarcity in the preceding years.

The rest of the story, together with the stats for Apri...

Our Real Estate Update March 2024

Posted on Apr 09, 2024

Now that the March school break and holidays are behind us, we should continue to see an uptick in sales activity and prices as we move through April. With anticipated interest rate cuts on the horizon, we will see more buyers come off of the sidelines and compete for available inventory. Tight supply conditions, particularly in the coveted detache...

Our Real Estate Update February 2024

Posted on Mar 11, 2024

The Greater Toronto Area (GTA) housing market witnessed a strong surge in activity throughout February, setting an optimistic tone for the region's real estate market as we move into Spring. With a total of 5,607 homes sold, representing an impressive 33% increase from the previous month and a notable 17% rise compared to the same period last year...

Our Real Estate Update January 2024

Posted on Feb 08, 2024

With a new year now underway, Canadians can expect to see a variety of changes coming to federal, provincial and local government housing legislation in 2024. From updated taxes to revised urban planning regulations, new housing laws and policies will roll out across the country in the coming months. Several of these policies promise to boost much...