Joshua Sumi - Real Estate, 33 Pearl Street, Mississauga, ON (2026)

01/08/2025

D E C E M B E R

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- 3,359 Sales (-1.8% y/y. -42.8% m/m)
- 4,681 New Listings (+20.2% y/y, -59.6% m/m )
- $1,067,186 (average selling price, all home types -1.6% y/y, -3.5% m/m )
- 67,610 Total Homes Sales in 2024

The GTA housing market experienced a transitionary 2024. Annual sales were up slightly compared to 2023, and new listings were up significantly year-over-year. Buyers benefited from substantial negotiating power on price, especially in the condominium apartment market. Average selling prices in 2024 dipped in comparison to 2023 as a result.

Annual 2024 home sales amounted to 67,610 – up by 2.6% from 65,877 sales in 2023. New listings, at 166,121, were up by a greater annual rate of 16.4% Listings increasing by a greater rate than sales provided buyers with considerable choice in the marketplace, which effectively kept a ceiling on any widespread price growth.
Market conditions were tighter for ground-oriented housing and selling prices held up better in these segments as a result. Price declines were more notable for condo apartments.

“Borrowing costs were top of mind for home buyers in 2024. High interest rates presented significant affordability hurdles and kept home sales well below the norm. The housing market did benefit from substantial Bank of Canada rate cuts in the second half of the year...All else being equal, further rate cuts in 2025 and home prices remaining below their historic peaks should result in improved market conditions over the next 12 months,” said the Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule.

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

12/05/2024

N O V E M B E R

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- 5,875 Sales (+44.4% y/y. +33.2% m/m)
- 11,592 New Listings (+4.3% y/y, -15.2% m/m )
- $1,106,050 (average selling price, all home types +1.1% y/y, +2.5% m/m )

GTA home sales increased strongly on a year-over-year basis in November 2024. Many buyers benefitted from more affordable market conditions brought about by lower borrowing costs. New listings were also up compared to November 2023, but by a much lesser annual rate. This meant that market conditions tightened, resulting in overall average price growth compared to last year.

“Market conditions have tightened, particularly for single-family homes. The detached market segment experienced average annual price growth above the rate of inflation, particularly in the City of Toronto. In contrast, the condominium apartment segment continued to experience lower average selling prices compared to a year ago. Condo buyers are benefitting from a lot of choice and therefore negotiating power. This will attract renter households into homeownership as borrowing costs trend lower in the months ahead,” said TRREB Chief Market Analyst Jason Mercer.

While the rental market will remain relatively well-supplied as more renters transition to homeownership, expect rental demand to pick up as population growth remains high. The rental market could strengthen for both tenants and landlords by reducing the backlog of cases at the Landlord and Tenant Board (LTB).

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

11/07/2024

O C T O B E R

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- 6,658 Sales in OCT ’24 (+44.4% y/y. +33.2% m/m)
- 15,328 New Listings in OCT ( +4.3% y/y, -15.2% m/m )
- $1,135,215 the average selling price (all home types) +1.1% y/y, +2.5% m/m

GTA home sales increased strongly year/year 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.

“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 and home 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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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!

: [email protected]
: 647-290-7336

10/04/2024

S E P T E M B E R

- 4,996 Sales in SEP ’24 (+8.5% y/y. +0.42% m/m)
- 18,089 New Listings in SEP ( +10.5% y/y, +44.1% m/m )
- $1,107,291 the average selling price (all home types) -1.0% y/y, +3.0% m/m

GTA home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices.

“As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population growth. With every rate cut, a growing number of GTA households will afford a long-term investment in home ownership, including first-time buyers,” said Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

09/06/2024

A U G U S T

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- 4,975 Sales in AUG ’24 (-5.3% y/y. -7.7% m/m)
- 12,547 New Listings in AUG ( +1.5% y/y, -23.0% m/m )
- $1,074,425 the average selling price (all home types) -0.8% y/y, -2.9% m/m

GTA home sales were down on a yearover-year basis in August 2024. New listings were up slightly over the same period. While the region’s housing market remained well-supplied in August, average home prices only edged slightly lower compared to August 2023.

“As borrowing costs trend lower over the next year-and-a-half, home buyers will initially benefit from both lower monthly mortgage payments and lower home prices. Even as demand picks up, especially in 2025, it will take time for the inventory of listings to be absorbed. Ample choice in the market will help keep price growth moderate, at least in the initial phases of recovery,” said TRREB Chief Market Analyst Jason Mercer.

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

08/06/2024

J U L Y

- 5,391 Sales in JUL ’24 (+3.3% y/y. -13.2% m/m)
- 16,296 New Listings in JUL ( +18.5% y/y, -9.2% m/m )
- $1,106,617 the average selling price (all home types) -0.9% y/y, -4.7% m/m

GTA home sales in July 2024 were up compared to July 2023. While sales were up from last year, buyers continued to benefit from more choice in the GTA marketplace, with annual growth in new listings outstripping that of sales. The better-supplied market meant that buyers also benefitted from a slight relief in selling prices on average. 🏡

“As more buyers take advantage of more affordable mortgage payments in the months ahead, they will benefit from the substantial build-up in inventory. This will initially keep home prices relatively flat. However, as inventory is absorbed, market conditions will tighten in the absence of a large-scale increase in home completions, ultimately leading to a resumption of price growth,” said TRREB Chief Market Analyst Jason Mercer.

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

07/04/2024

J U N E

- 6,213 Sales in JUN ’24 (-16.4% y/y. -11.4% m/m)
- 17,964 New Listings in JUN ( +12.3% y/y, -3.4% m/m )
- $1,162,167 the average selling price (all home types) -1.6% y/y, -0.3% m/m 🏡👀

June 2024 home sales in the Greater Toronto Area (GTA) were lower compared to the same month last year, according to the Toronto Regional Real Estate Board (TRREB). Despite the Bank of Canada rate cut at the beginning of last month, many buyers kept their home purchase decisions on hold. The market remained well-supplied, resulting in a slight dip in the average selling price compared to June 2023.

“The Bank of Canada’s rate cut last month provided some initial relief for homeowners and home buyers. However, the June sales result suggests that most home buyers will require multiple rate cuts before they move off the sidelines. This follows Ipsos polling for TRREB, which suggested that cumulative rate cuts of 100 basis points or more are required to boost home sales by any significant amount,” said TRREB President Jennifer Pearce.

“Despite a temporary dip in home sales due to high interest rates, we know that strong population growth is driving long-term demand for ownership and rental housing. Ontario has set the goal of 1.5 million more homes on the ground by 2031. This is only possible if all levels of government ensure actionable solutions with sustained effort, including continuing to remove red tape, avoiding financial barriers to home construction, and minimizing housing taxes and development charges,” said TRREB CEO John DiMichele.

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

07/03/2024

S O L D

I’m happy to announce that this beautiful and spacious 2-bedroom, 2-bathroom condo in the heart of Etobicoke is now officially off the market! We managed to sell this gem in just under two weeks—well below the area’s average days on market. 👀🏙️🙌🏼

In a with a lot of inventory available and where listings often linger, it’s crucial to have a realtor who understands not just the market, but the unique value of your property. The right strategy and presentation can make all the difference and I’m grateful to have had the opportunity to prove that with this sale.

to my wonderful seller clients on this successful sale 🎉

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06/13/2024

Welcome to The Sovereign 👑

Renowned Elegance & Exceptional Management.

This comfortable and spacious condo is available in a highly desired, rarely offered and exceptionally managed building. Nestled in a serene, sought out community in the heart of , and steps away from the Humber Trail, parks, tennis courts, shops and amenities. It's the perfect home for those who are looking for a quieter lifestyle without leaving the city.

✅2Beds
✅2Baths
✅1160 SqFt of comfortable living
✅All inclusive maintenance fee (All utilities, internet, cable tv and home phone!)

06/05/2024

Summer’s here and so or interest rate cuts ?! 👀. Swipe for the latest 🏡🙌🏼

- 7,013 Sales in MAY ’24 (-21.7% y/y. -1.4% m/m)
- 18,612 New Listings in MAY ( +21.1% y/y, +9.8% m/m )
- $1,165,691 the average selling price (all home types) -2.5% y/y, +0.8% m/m

May home sales continued at low levels, especially in comparison to last spring’s short-lived pick-up in market activity. Home buyers are still waiting for relief on the mortgage rate front - Today’s rate cut signals relief for homeowners is on the horizon - Existing homeowners are anticipating an uptick in demand, as evidenced by a year-over-year increase in new listings. With more choice compared to a year ago, buyers benefitted from more negotiating room on prices.

“Recent polling from Ipsos indicates that home buyers are waiting for clear signs of declining mortgage rates. As borrowing costs decrease over the next 18 months, more buyers are expected to enter the market, including many first-time buyers. This will open up much needed space in a relatively tight rental market,” stated Toronto Regional Real Estate Board (TRREB) President Jennifer Pearce.

“In order to have an affordable and livable region over the long term, we need to see a coordinated effort from all levels of government to alleviate our current housing deficit and to provide housing for new population moving forward. On top of this, governments need to ensure the delivery of infrastructure to support our growing population. The economic health and liveability of our region depends on the timely completion of public transit projects…,” said TRREB CEO John DiMichele.

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

05/03/2024

Is the Spring Market Stalling? Swipe for a quick peek 👀 🏡

- 7,114 Sales in APR ’24 (-5.0% y/y. +8.4% m/m)
- 16,941 New Listings in APR ( +47.2% y/y, +29.1% m/m )
- $1,156,167. the average selling price (all home types) +0.3% y/y, +3.0% m/m

April 2024 home sales were down in comparison to April 2023, when there was a temporary resurgence in market activity. New listings were up strongly year-over-year, which meant there was increased choice for home buyers and little movement in the average selling price compared to last year.

“Listings were up markedly in April in comparison to last year and last month. Many homeowners are anticipating an increase in demand for ownership housing as we move through the spring. While sales are expected to pick up, many would-be home buyers are likely waiting for the Bank of Canada to actually begin cutting its policy rate before purchasing a home,” said TRREB President Jennifer Pearce.

“Generally speaking, buyers are benefitting from ample choice in the GTA resale market in April. As a result, there was little movement in selling prices compared to last year. Looking forward, the expectation is that lower borrowing costs will prompt tighter market conditions in the months to come, which will result in renewed price growth, especially as we move into 2025,” said TRREB Chief Market Analyst Jason Mercer.

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

04/04/2024

Spring is heating up 🌷🔥 Swipe for the latest 👉🏼

- 6,560 Sales in Mar ’24 (-4.5% y/y. +16.9% m/m)
- 13,120 New Listings in Mar ( +15.1% y/y, + 15.1% m/m )
- $1,121,615. the average selling price (all home types) +1.3% y/y, +1.1% m/m 🏡

March 2024 home sales were lower than the March 2023 result, due in part to the statutory holiday Good Friday falling in March this year versus April last year. Despite a better-supplied market compared to last year, there was enough competition between buyers to see a moderate increase in the average March home price compared to last year’s level.

“We have seen a gradual improvement in market conditions over the past quarter. More buyers have adjusted to the higher interest rate environment. At the same time, homeowners may be anticipating an improvement in market conditions in the spring, which helps explain the marked increase in new listings so far this year. Assuming we benefit from lower borrowing costs in the near future, sales will increase further, new listings will be absorbed, and tighter market conditions will push selling prices higher,” said TRREB President Jennifer Pearce.

“As demand for ownership and rental housing increases, supply will continue to be top of mind. Governments at all levels must maintain their focus on pursuing innovative solutions to increase the amount and mix of housing supply to improve affordability...Encouraging gentle density, including multiplexes, is critical to helping high demand areas such as the Greater Golden Horseshoe to meet housing supply targets,” said TRREB CEO John DiMichele

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Questions about the and how the latest stats might relate to you and your ? don’t hesitate to reach out, and lets have a chat!
: [email protected]
: 647-290-7336

Joshua Sumi - Real Estate

01/08/2025

12/05/2024

11/07/2024

10/04/2024

09/06/2024

08/06/2024

07/04/2024

07/03/2024

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