Home sales in Metro Vancouver decreased by 3.8 per cent year-over-year in September, signaling that recent reductions in borrowing costs have yet to significantly boost demand, Greater Vancouver Realtors (GVR) reports.

The region saw 1,852 residential sales in September, down from 1,926 in the same period last year. This figure is also 26 per cent below the 10-year seasonal average of 2,502.

“Real estate watchers have been monitoring the data for signs of renewed strength in demand in response to recent mortgage rate reductions, but the September figures don’t offer the signal that many are watching for,” Andrew Lis, GVR’s director of economics and data analytics explains. “Sales continue trending roughly 25 per cent below the 10-year seasonal average in the region, which, believe it or not, is a trend that has been in place for a few years now.

Lis adds that although sales are now tracking slightly below GVR’s forecast, they remain optimistic that 2024 sales will still end up higher than 2023’s.

Market overview

There were 6,144 new listings in September, a 12.8 per cent increase from last year and 16.7 per cent above the 10-year seasonal average. Properties listed for sale in Metro Vancouver totalled 14,932 units, up 31.2 per cent from September 2023.

The overall sales-to-active listings ratio was 12.8 per cent, with detached homes at 9.1 per cent, attached homes at 16.9 per cent and apartments at 14.6 per cent. 

‘All signs pointing to further (rate) reductions; it’s not inconceivable that demand may still pick up later this fall’

The increase in new listings has provided buyers with more options, leading to downward pressure on prices and a buyer’s market. “With two more policy rate decisions to go this year, and all signs pointing to further reductions, it’s not inconceivable that demand may still pick up later this fall should buyers step off the sidelines,” Lis notes.

The benchmark price for all residential properties in Metro Vancouver now stands at $1,179,700, reflecting a 1.8 per cent year-over-year decrease and a 1.4 per cent decline from August 2024. 

Detached homes

Sales of detached homes dropped 9.8 per cent compared to last year, with 516 units sold in September. The benchmark price for a detached home is $2,022,200, a 0.5 per cent increase year-over-year but down 1.3 per cent from August.

Apartment homes

Apartment sales fell 4.9 per cent, with 940 units sold. The benchmark price for an apartment is $762,000, marking a 0.8 per cent decline year-over-year and month-over-month.

Attached homes

Attached homes, however, saw a 7.4 per cent increase in sales year-over-year, totaling 378 units. The benchmark price for townhomes is $1,099,200, down 0.5 per cent from September 2023 and 1.8 per cent from August.

Review the full report here.

The stalemate continues between buyers and sellers in Toronto’s real estate market this month. It’s easy to get excited because sales are up from last year — but let’s remember that last year was an exceptionally bad year. In the broader view, the fall market has been relatively weak in the long-term context against the typical month of September.

Key September points

The Toronto Regional Real Estate Board (TRREB) posted its monthly Market Watch report, and here are the key points you need to know from the summary: 

1. Sales are up 8.5 per cent from last year.
2. New listings are up 10.5 per cent, slightly outpacing sales. 
3. Properties taking 35-45 per cent longer to sell compared to last September.
4. Because of slowed sales cycle, active listings are up 35.5 per cent! Supply accumulation is becoming substantial.
5. House prices are still grinding down — nominally, 1.0 per cent below last year, with real house prices down 3.0 per cent when adjusted for inflation.

Source: TRREB

Recovery or rebalancing? 

TRREB argues the uptick in sales we’re seeing is the result of favourable market conditions, such as interest rate cuts and revised mortgage lending guidelines. These factors are certainly important to recovery, but a deeper look suggests that the GTA market might be more balanced than on a path to full recovery.

It’s worth seeing a long-term “sideways” market, rather than an “upwards” one. The key factor here is the rate of growth in supply, which has outpaced demand, challenging the notion of a straightforward recovery. Until that changes meaningfully from buyers entering the market more quickly than sellers, it’s tough to imagine a complete recovery has begun.

Sales increase due to new opportunities for buyers, but price still most important factor

The 8.5 per cent year-over-year increase in home sales (4,996 in September 2024, up from 4,606 in September 2023) is presented as evidence of recovery. TRREB President Jennifer Pearce attributes this increase to buyers capitalizing on lower borrowing costs and adjustments to mortgage lending guidelines.

These changes include:

1. rate cuts from the Bank of Canada 
2. reduced five-year fixed mortgages from a falling Canadian five-year bond yield
3. the coming introduction of longer amortization periods
4. the ability to insure mortgages for homes valued up to $1.5 million 

These factors certainly make the market more affordable for some buyers who are limited by capital costs and the lending environment. However, with the B20 stress test still in place and buyers qualifying at rates over 5.0 per cent, price ultimately becomes the most important factor for many buyers looking to re-enter the market.

Easing of stress test could build staying power

To this end, TRREB highlights that the easing of the mortgage stress tests for existing homeowners on renewal could build some staying power into the market, by making homeowners and investors able to afford to keep their homes rather than selling when faced with financial stress.

TRREB also expects further rate cuts to allow a growing number of households to afford homeownership. This notion is especially pointed at first-time buyers, who have been outlined by the Bank of Canada as nearly 50 per cent of all homebuyers, representing a key demographic for those hoping for a recovery in the market. 

Supply outpacing demand

A closer analysis reveals a more nuanced picture. While demand (measured in sales) grew, the rate of new listings entering the market has grown even faster, by 10.5 year-over-year, slightly outpacing sales growth. In September, 18,089 new listings were added to the MLS, contributing to an already better-supplied market. This gap between supply and demand, rather than indicating a shortage of homes, points to an easing of market pressures and a better market for buyers to enter. 

Compounding this, we’re seeing a significantly increased “time to sell” — meaning it takes an extra week for a listing to sell, compared to the average 20 days on market from September last year. This slowing absorption has led supply to accumulate, with active listings now up 35.5 per cent compared to September 2023.

Ability to negotiate on price: Indicates a market no longer heavily favoured to sellers

Should this trend continue to hold, it’s reasonable to expect that buyers will resume their home search as they see more homes on the market and hope they can capitalize on the supply, shop around and negotiate with sellers. This is how the imbalance between supply and demand is further materialized, in a decline in prices.

The MLS Home Price Index Composite benchmark was down by 4.6 per cent year-over-year, and the average selling price in September dropped 1.0 per cent compared to the previous year.

TRREB attributes this to increased negotiating power for buyers, especially in the more affordable segments like condominiums and townhouses, which are favoured by first-time buyers. More activity in the lower ends of the market can skew the average down. Interestingly, 416 condominium sales are actually up year-over-year, despite the market being in a severe state of excess supply. The ability to negotiate on price is a clear indicator of a market that’s no longer tilted heavily in favour of sellers.

Source: TRREB

The pricing context: A “recovery” in question

A true market recovery, by definition, would generally see home prices stabilizing or even increasing as demand starts to outpace supply. However, this is not currently the case in the GTA.

While average selling prices have edged up slightly on a seasonally adjusted basis compared to August 2024, the year-over-year decline in benchmark prices suggests that the market has not fully recovered to its previous highs. Affordability challenges that plagued the market before the interest rate hikes are being alleviated, but they haven’t disappeared.

Furthermore, while rate cuts may improve affordability in the short term, they don’t necessarily address the long-term structural issues in the housing market, such as supply constraints or high construction costs. It’s worth noting that while lower borrowing costs can temporarily boost demand, they can also encourage speculative buying, which could further distort the market, particularly if supply doesn’t keep pace.

Recovering sales, but not prices

Despite TRREB’s optimistic messaging, the GTA housing market appears to be in a state of balance rather than recovery. Yes, sales are up, and rate cuts have eased some of the financial pressure on buyers and sellers. On the other hand, the growing supply of homes, coupled with modest price declines, suggests a more buyer-friendly market, one in which supply is catching up to — and in some cases, surpassing — demand.

This dynamic is providing more negotiating power to buyers, and while that’s a positive development for affordability, it doesn’t necessarily signal a robust recovery in price. Instead, the current market is best characterized as one where buyers have regained some control, but where underlying challenges around housing supply and affordability remain.

The return to a balanced market does point to a steady resurrection of sales activity, which is welcome news for the real estate profession that has been dealing with drastically reduced activity for some time now.  

This week, the Canadian Real Estate Association (CREA) announced the launch of its Canadian Realtors Care Award 2025. The award recognizes the long-lasting impact of realtors nationwide who dedicate their time and efforts to charities and causes important to them.

Nominations are now open to recognize a realtor who has played a vital role in lifting their communities. The recipient of this year’s award will be announced at CREA’s Annual General Meeting on Tuesday, April 8, 2025.

10th anniversary of the award

To celebrate the award’s 10th anniversary, the recipient will receive a $10,000 contribution to their charity of choice in their honour.

Latest recipient and past nominees

Since 2016, 10 realtors from five provinces have received the award, including 2024’s recipient, Kelly Byers of Woodstock, Ontario.

“It feels awesome to know that we are able to do so much for our community and for those who are struggling,” says Byers. “And it’s pretty cool to see how many realtors step up year after year.”

The award has also helped highlight the many stories of realtors across Canada who give back through their own charitable endeavors. Past nominees include Crystal Hung of Vancouver and Chris Dunlop of Toronto.

Nominations for the Canadian Realtors Care Award 2025 are open until Sunday, December 1, 2024. Learn more and nominate a realtor here.

Last month, the Calgary Real Estate Board (CREB) reported that climbing sales in higher price ranges couldn’t fully offset the decline in lower-priced homes. This led to 2,003 sales — 17 per cent below last year’s record. However, sales were still over 16 per cent higher than typical September levels.

Demand strong across all price ranges but lower-priced choice is limited, preventing stronger sales

“We are starting to see a rise in new listings in our market. However, most of the listing growth is occurring in the higher price ranges,” says Ann-Marie Lurie, chief economist at CREB. “While demand has stayed strong across all price ranges, the limited choice for lower-priced homes has likely prevented stronger sales in our market.”

Lurie explains that challenges in the lower price ranges aren’t expected to change and improved supply and lower lending rates should keep demand strong throughout the fall, but without the extreme seller market conditions that fueled rapid price growth earlier this year.

New listings

New listings in September climbed to 3,687 units, the highest since 2008 for this month. While this rise helped boost inventory, September’s count reached 5,064 units — almost double the spring lows but still below the usual 6,000 units for September.

With inventory improving compared to sales, the market is gradually shifting towards more balanced conditions. In September, months of supply reached 2.5 — higher than last year’s record low but creating conditions that still favour sellers.

Home prices and inventory

Increased supply has eased some pressure on home prices. September’s unadjusted benchmark price was $596,900, slightly lower than August but still over 5.0 per cent higher than last year. Detached homes saw nearly 9.0 per cent year-over-year price growth, while apartment condominiums led with a 14 per cent gain, highlighting the shifting sales composition.

Detached homes

Despite 9.0 per cent sales growth for homes over $700,000, a significant pullback in homes priced below $600,000 resulted in 942 total sales — 17 per cent less than last year. New listings are stabilizing the higher-priced segment, leading to more balanced conditions for homes priced above $700,000.

In September, the unadjusted detached benchmark price was $757,100 — down slightly from August but nearly 9.0 per cent higher year-over-year. Tighter conditions for lower-priced homes have driven much of this price growth.

Semi-detached homes

September saw 299 new listings and 182 sales, pushing the sales-to-new-listings ratio to 61 per cent. Despite gains in listings, inventory remains tight, with less than 400 units available — 33 per cent below long-term trends. Months of supply improved to just above two but remained seller-favourable, and the unadjusted benchmark price eased slightly to $678,400 — still over 9.0 per cent higher than last year.

Row homes

Over 600 new listings hit the market in September, with 70 per cent priced above $400,000. Sales totaled 377 units, slightly down from last year, but inventories rose to 747 units — an improvement over the past two years. This increase led to nearly two months of supply, slowing price growth. The unadjusted benchmark price was $459,200 — 10 per cent higher than last year.

Apartment condominium homes

September saw strong gains in new listings with 993 units, while sales dropped to 502. This drop caused the sales-to-new-listings ratio to fall to 50 per cent and inventories to rise to 1,623 units. Months of supply climbed to 3.2, the highest since 2021. The unadjusted benchmark price for apartment condominiums was $345,000 — up 14 per cent year-over-year. Despite the price easing, year-to-date prices still reflect a 17 per cent increase over 2023.

Review CREB’s full reports for the city and region.

The British Columbia Real Estate Association (BCREA) is calling for significant amendments to British Columbia’s short-term rental laws to mitigate the disruption they’ve caused for specific business and tourism sectors across the province, the association announced last week.

On May 1 this year, the B.C. Government enacted a widespread ban on short-term rentals, with the intent of returning homes to the long-term rental market.

British Columbians negatively affected by the ban

As part of a new housing policy resource hub launched leading up to the 2024 Provincial General Election, BCREA identified multiple groups of British Columbians negatively affected by the ban.

These groups include:

• medical employees transferred to remote areas
• those receiving multi-week medical care as well as caregivers in urban areas
• film sector workers in town for weeks at a time
• those attending or employed by short-term but large events for which hotel space is inadequate (such as a Taylor Swift concert or the FIFA World Cup 2026)
• those needing short-term housing due to delays in being able to take occupancy of homes or apartments

The BCREA proposed several exemptions from the ban across several categories, including these groups and high-tourism areas.

Additional considerations besides housing affordability, BCREA stresses

As part of the analysis, the BCREA stressed that provincial and regional economies need to be factored into policy decisions of this magnitude.

“While housing affordability is extremely important, there are additional considerations in communities across B.C. that have been paved over with the implementation of this policy,” explains Trevor Hargreaves, BCREA senior VP, policy and research. “There are numerous exemptions desperately needed to make this a workable and successful policy moving forward.”

Hargreaves adds, “There is no question that some of these short-term rental units should be functioning as long-term rentals, but there are some legitimate uses for short-term rentals that are no longer permitted under the legislation.”

On Friday, the Toronto Regional Real Estate Board announced the appointment of Kevin Crigger as its new associate CEO. Crigger will also serve as president of PropTx Innovations Inc., TRREB’s subsidiary providing MLS and technology services to real estate boards and associations.

TRREB says this combined role marks “a new era of transformative advancements across the real estate sector.”

‘I am honoured to serve a community that has had such a positive impact on my life’

About his new role, Crigger says he’s honoured to join TRREB as associate CEO. He looks forward to working with its leadership team and realtor members to support real estate professionals in serving their clients and communities and advance TRREB’s services and engagement with members.

“The TRREB community is inclusive, diverse and impactful, and I am honoured to serve a community that has had such a positive impact on my life,” he adds.

Crigger also looks forward to continued collaboration with realtor volunteers and association staff across the country, “while leveraging our collective experience and expertise to support and empower real estate professionals in their service to clients and communities.”

‘This new chapter will allow me to give back … With this new role, I will no longer be a practicing realtor’

Crigger will work with CEO John DiMichele to oversee the strategic direction of the organizations and plan future operations. This will also mean playing a key role in fostering partnerships and stakeholder collaboration.

“I am incredibly excited to welcome Kevin to our leadership teams,” says TRREB CEO John DiMichele. “Kevin’s in-depth knowledge of the real estate industry, coupled with his innovative mindset, make him an invaluable member of the team. His guidance is essential as we continue providing our members and their clients with advanced tools and services.”

As for his existing career selling real estate, Crigger explains, “Having been a proud realtor and TRREB member for nearly 14 years, this new chapter will allow me to give back to an organization and industry that has given so much to me personally. With this new role, I will no longer be a practicing realtor.”

His role with PropTx

As president of PropTx Innovations Inc., Crigger will leverage technology to redefine real estate services, ensuring realtors and consumers benefit from advanced tools, streamlined processes, enhanced member services and widespread industry collaboration.

“The appointment of Kevin marks a significant milestone in our journey to redefine real estate technology. His business acumen and results-driven leadership will help continue to propel PropTx’s vision forward, advancing our technological offerings to better serve the realtor community in an ever-evolving landscape,” says PropTx board chair Paul Baron.

Crigger’s background

Crigger has been an active Toronto realtor for over 10 years, holding multiple awards in both resale and new development sales. He previously served as the president of TRREB and the Ontario Realtors Care Foundation (ORCF), as well as chair of PropTx Innovations Inc.

As well, he has served on several committees and task forces at the Ontario Real Estate Association (OREA) and the Canadian Real Estate Association (CREA), as well as TRREB, ORCF and RECO (Real Estate Council of Ontario).

An ‘exciting time for all of us’

Jennifer Pearce, TRREB’s president, notes that Crigger’s track record of driving innovation and building strategic partnerships “will be instrumental in achieving our vision of empowering realtors to promote sustainable and thriving communities, and make him an exceptional choice for our future initiatives.”

Those in the industry are looking forward to what’s next, too.

Karen Yolevski, COO of Royal LePage Real Estate Services Ltd., notes that Crigger has enjoyed a long and esteemed career with the company at Johnston & Daniel. She adds, “We at both Johnston & Daniel and Royal LePage are incredibly proud of his appointment to these prominent roles at TRREB and PropTx.

Kevin is a visionary leader with the strategic expertise to drive the real estate industry forward. This is an exciting time for all of us, and we look forward to seeing what the future holds.”

Crigger stresses his passion for supporting members and what he plans to achieve in his new role: “Together we will not only continue to elevate the standard of excellence in our industry but also make a meaningful difference in the ever-evolving landscape of real estate.”

Photo: Council of Multiple Listing Services

Last week, Greater Vancouver Realtors (GVR) announced two new members of its team. The organization has appointed Ashutosh “Ash” Anil as its first-ever chief membership officer (CMO), and Craig Munn as its chief corporate development officer (CCDO), also a new role.

CMO role ‘signals our long-term commitment to providing an innovative and superior customer service experience’

The CMO is a new senior leadership position created to help GVR identify the tools and technology, systems and process improvements needed to service over 15,000 realtor members and 500 real estate brokerages.

“The establishment of the CMO position signals our long-term commitment to providing an innovative and superior customer service experience to our members day in and out,” Jeff King, GVR’s CEO shares.

What Anil brings to the CMO role

Anil commenced the role on September 23 and is responsible for the strategy, direction and service enhancement for the MLS, professional development, member services, events and professional standards areas.

He brings extensive experience leading customer experience operations and transformations across industries and countries, including Canada, the United States, India and the United Kingdom. Anil has worked in various sectors including telecom, retail, public service and technology for brands like Three Telecom UK, Rogers Communications, Best Buy Canada, Stern Partners, Technical Safety BC and Hughes Network Systems.

“We are excited to welcome Ash to our leadership team. He brings a wealth of experience and talent to this newly developed role within the organization,” King says.

‘We need talented people exploring new partnerships & other opportunities that allow us to disrupt, evolve & innovate’

As CCDO, Munn will help lead strategy implementation and stakeholder engagement, pursue key business opportunities and build and strengthen GVR partnerships and relationships across the profession and business community. 

“The purpose of this new leadership role within GVR is to ensure we’re dedicating the time and resources to think differently about our business. Times and conditions are changing, and we need talented people exploring new partnerships and other opportunities that allow us to disrupt, evolve and innovate our products and services,” King says.

What Munn brings to the CCDO role

Munn most recently served GVR with distinction as the vice president of communication and events, for which his responsibilities included internal and external communication, media and public relations, content strategy, issues management and stakeholder engagement. 

Prior to joining GVR, he worked as the press and public affairs officer at the British Consulate General in Vancouver and a reporter for newspapers across the Lower Mainland.

“Craig is an astute and results-focused business leader who will play a pivotal role in helping us drive toward (our) goals in the immediate and long term,” notes King.

Photo: GVR

On September 16, the Ontario government announced a formal consultation process to implement pay-on-demand surety bonds as an alternative to Letters of Credit (LOCs) for home builders.

The Ontario Home Builders’ Association (OHBA) recognizes this is a significant and progressive step forward for the housing industry and notes its appreciation for the efforts and commitment of Minister Calandra and the Ministry of Municipal Affairs and Housing to modernize how new housing approvals are administered.

‘Precisely the type of innovative regulatory updates we need to effectively increase our housing supply’

OHBA has advocated for this financial security tool to help home builders access capital for new housing projects for years, as it will streamline the construction of more homes in Ontario. In a release, the organization says it’s proud that its efforts were able to highlight the benefits of surety bonds as an effective tool, and it’s eager to collaborate with municipalities to facilitate its adoption.

“This is a great step forward for Ontario’s housing industry and the issue of housing affordability,” OHBA CEO Scott Andison, who played a significant role in moving the initiative forward and worked closely with Minister Calandra and Municipal staff, says.

“Allowing builders to access capital held up in LOCs and reinvest it into new projects is precisely the type of innovative regulatory updates we need to effectively increase our housing supply.”

What’s next

A key focus for the organization during this consultation will be to ensure that builders currently using LOCs can easily transition to surety bonds, freeing up essential capital for new projects.

As part of the legislative framework established under Bill 109 and Bill 185, the government is exploring regulations to authorize using surety bonds for securing municipal obligations tied to land-use planning approvals.

The consultation is open for 30 days, concluding on October 16, and OHBA will be submitting feedback on behalf of its industry and the 28 local associations across Ontario.

Last week, in time for the provincial election, Saskatchewan’s housing leaders unveiled Secure Homes, Strong Future: A Housing Policy Blueprint for Saskatchewan. The report names these leaders as:

• Cameron Choquette, chief executive officer, Saskatchewan Landlord Association
• Stu Niebergall, chief executive officer, Regina & Region Home Builders’ Association
• Nicole Burgess, chief executive officer, Saskatoon & Region Home Builders’ Association
• Chris Guérette chief executive officer, Saskatchewan Realtors Association

The blueprint, grounded in grassroots consultations and expert research within the housing industry, offers key insights and recommendations aimed at strengthening housing in Saskatchewan.

‘Ideas to build more affordable homes faster by improving affordability, unlocking development, lowering construction costs & setting the stage’

With a rapidly growing population, the province’s housing industry — including construction, rental and real estate — faces a large gap in inventory. The new policy outlines a comprehensive plan that emphasizes policy reforms and funding investments to meet this increasing demand and ensure adequate housing for Saskatchewan’s future residents.

“Saskatchewan continues to attract, house and employ people at record levels — a growing province means more housing units are required to ensure that the Saskatchewan advantage remains intact,” state the named Saskatchewan housing leaders.

“Our plan proposes common-sense ideas to build more affordable homes faster by improving affordability, unlocking development, lowering construction costs and setting the stage for the future.”

Four priority areas & recommendations for political party consideration

The blueprint is structured around four priority areas, each containing recommendations for provincial political parties to consider in shaping the future of housing:

1. Enhancing affordability and reducing housing costs

• Adjustments to the PST for affordable home construction
• Reinstating the Home Renovation Tax Credit
• Permanently implementing the Secondary Suite Incentive (SSI) Program
• Avoiding added costs through changes to codes and regulations

2. Building more homes faster

• Conducting an audit of underused government properties for affordable housing
• Providing provincial support for infill development
• Supporting infrastructure that enables housing growth

3. Stronger provincial leadership on housing

• Establishing a Provincial Ministry of Housing and Infrastructure

4. Supporting rental housing providers and protecting tenants

• Improving efficiency in rental housing provider-tenant dispute resolution
• Strengthening mechanisms for collecting rent arrears and damage costs

Review the full blueprint .

There’s an interesting pattern emerging in Canadian real estate: ever since the Bank of Canada’s first rate cut, home sales have increased as buyers get improved affordability, though still well below the long-term average.

Price recovery is still yet to be found, and sales volume trended up again 1.3 per cent month-over-month in August, reaching its highest level since January 2020.

At the same time, new listing activity continues to accumulate with new listings climbing for the fourth straight month. Will this trend continue? The market will head into buyer’s market territory, where supply is outgrowing demand.

With that in mind, there are expectations that future rate cuts into 2025 well lead to cautious optimism among potential buyers and investors.

Newly listed properties in Edmonton and Calgary offset GTA decline 

Despite the uptick in sales, the market remains mostly stuck in a holding pattern as many buyers are waiting for improved affordability before making purchases.

The number of newly listed properties increased by 1.1 per cent month-over-month in August, with approximately 177,450 properties available for sale — up 18.8 per cent from the previous year, but still below historical averages.

But for the second month in a row, there was a boost in new supply in Calgary, with Edmonton also witnessing an uptick of listings. The rise of newly listed properties in Edmonton and Calgary offsets a decline in the GTA. 

Consistent, stable increase in sales-to-new-listings

The national sales-to-new listing ratio rose slightly to 53 per cent, matching our record in April. We’re a long way from returning to what was our highest average of sales-to-new listings which we achieved in December 2023: 81 per cent.

We have been relatively and consistently stable ever since our increase from January’s 46 per cent to February’s 52 per cent. So, it may be some news that we’ve matched our April 2024 average. 

Prices

After Canada experienced a record high price in 2022, the market recoiled down about as quickly as it jumped up. Since the bottom of the recoil, we’ve seen very little upward or downward momentum in price. 

Significant fluctuation in GTA condominiums

Toronto area condominium apartments are having a significant fluctuation, with a recoil off of an all-time high price and a few bounces since the blow-off top. 

Source: x.com/Tablesalt13/

It’s clear that the outlook doesn’t look good for 2025, as it seems it will touch the 350 margin — the record low from around 450 in January 2022.