Home sales throughout the GTA increased year-over-year in September, as buyers in the region continued to take advantage of more affordable market conditions brought about by interest rate cuts. According to its listing, the home boasts a finished basement with a separate entrance and a kitchen with stainless steel appliances, as well as a walkout from the breakfast area to a large rear patio.
After sitting on the market for a few weeks, the home finally sold for $985,000 at the end of September, representing a staggering loss of $415,000 when compared to its price shy of three years earlier. The owner leased it out before throwing in the towel and selling for a whopping $415k loss last week. 😳, the MLS Home Price Index Composite benchmark was down by 4.6 per cent year-over-year in September 2024.
"With every rate cut, a growing number of GTA households will afford a long-term investment in home ownership, including first-time buyers." "This resulted in a better-supplied market and increased negotiating power for buyers re-entering the market," Mercer said.