Toronto Home Sales Slump: What You Need to Know for July & August

📊 Toronto Real Estate Market Update: June Recap & Summer Predictions
Welcome back to our channel! If you want to know what's happening in the Toronto real estate market, you're in the right place. In this video, we dive deep into the latest numbers from the end of June, just released yesterday, and provide a forecast for what July and August might bring.
🔍 June Market Recap:
➡️ Transactions: We saw 6,213 transactions in June, down from over 7,000 in May.
➡️ Year-over-Year Comparison: Transactions are down about 15-16% from the previous year.
➡️ Average Prices: The average price across all property types in the GTA remains relatively flat compared to last year.
➡️ Days on Market: Homes are taking longer to sell, and this trend may continue through the summer.
📈 What's Next for July and August:
➡️ Market Slowdown: Expect a sluggish market with fewer transactions.
➡️ Inventory Insights: New listings are up from last year, with 17,960 new listings at the end of June.
➡️ Summer Advice: If you’re thinking about listing your home, timing is crucial. August may not be the best time due to a significant drop in buyer activity. Preparing your home now for a fall listing could be a smart move.
🏡 Expert Tips for Sellers:
➡️ Get Specific Advice: Don’t rely on general market numbers. Get a professional evaluation of your property.
➡️ Prepare for Fall: Use the summer to enhance your home’s curb appeal and tackle inside work.
➡️ Market Readiness: If your home has been on the market since early spring, consider pausing and relaunching in the fall with a refreshed strategy.
📞 Need Personalized Advice?
Our team at The Othen Group is here to help you navigate these challenging times. Whether you’re a buyer, seller, or investor, we offer free, confidential conversations to provide tailored advice and support. Reach out to us directly via phone or email for an honest discussion about your real estate needs.
✨ Why Choose Us?
➡️ Experienced Team: We have a proven track record of helping families and individuals achieve their real estate goals.
➡️ Confidential and Friendly Service: We understand the complexities of the market and are here to offer support without any obligation.
➡️ Tailored Solutions: Every property is unique. We provide specific recommendations based on your situation.
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