While the Bank of Canada has moved into an easing phase, with the lowest variable rates around 3.3%, the full impact on affordability is expected to take up to 18 months to materialize.
New listings dropped by 16.7% year-over-year, which is beginning to tighten the supply of low-rise homes. TORONTO REAL ESTATE
Homes are selling for an average of 97% to 98% of the asking price , with properties staying on the market for an average of 47 to 54 days. Pricing by Property Type While the Bank of Canada has moved into
High inventory levels persist in the condo sector, leading to a trend where unsold units are being absorbed for rental conversions under initiatives like the $1.3 billion GTA Rental and Affordable Housing Initiative . TORONTO REAL ESTATE