During a Cabbagetown open house this weekend, conversations focused more on purchasing than decorating. However, many buyers are waiting on the sidelines for a break in interest rates before making an offer.
In April, new listings rose by 47.2 percent, accounting for the flourish of signs on lawns in many neighborhoods. The Toronto Real Estate Board reported 7,114 sales, marking a five percent decrease from April 2023.
"Buyers in the GTA enjoyed more options in April, which kept selling prices relatively stable year-over-year. Looking ahead, we expect lower borrowing costs to tighten market conditions, leading to price growth, especially as we approach 2025," said TRREB Chief Market Analyst Jason Mercer.
The proposed Capital Gains Tax increase has prompted many owners of secondary properties to consider selling before June 25th. We've included a calculation to help you understand how it may impact you.
For a more in-depth conversation on your neighbourhood market sales, tax changes, or buying or selling a home, we'd welcome the opportunity to help you.
May Real Estate Review includes:
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TRREB Greater Toronto Area (GTA) Stats
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Why We Love Cabbagetown
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Fabulous New Cabbagetown Listings
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Proposed Capital Gains Tax Calculation
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20 Best Garden Annuals For Your Garden
Lisa Marie, Linda, Lori and Cherry
