There are some very good reasons to stay in Ontario this summer, including some recently opened food halls, as well as some boardwalks in the province that are worth the drive!
Despite the interest rate cut in June, sales in June across the GTA were down by 16.4%, with the number of listings up by 12.3% compared to June 2023. Interestingly, prices are still holding relatively steady, the only notable dip being semi-detached homes. On average, listings are taking 33 days to sell, but there is still movement – 6,213 homes sold in June!
Although predictions wavered, the Bank of Canada did indeed lower the key interest rate by another .25%. The next announcement is September 4th, and another rate reduction could be just what we need to heat up the market!
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