#marketsnapshot
October 2024 Market Update 
Greater Toronto Area (GTA) home sales increased strongly year-overyear in October 2024. Over the same period, new listings were up, but by a lesser annual rate. The result was tighter
market conditions compared to October 2023. The average selling price was up slightly on an annual basis.
GTA REALTORS® reported 6,658 home sales through TRREB’s MLS® System in October 2024 – up by 44.4 percent compared to 4,611 sales reported in October 2023. New listings entered into the MLS® System amounted to15,328 – up by 4.3 per cent year-over-year. On a seasonally adjusted basis, October sales increased month-overmonth compared to September.
“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for home buyers. This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed andhome construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025,” said TRREB Chief Market Analyst Jason Mercer.
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