8 d. ago
Toronto real estate getting desperate as homes sit on market for ages
The rocky road for Toronto real estate continues as property owners face a dire new reality where sales are falling flat, values are inching downwards, new developments are at a standstill and units that would have once sparked a bidding war are now near-impossible to sell.Though this summer has brought glimmers of a rebound as far as sales volumes — a number which, as recently as May, has been down double-digit percentages compared to the same time last year — there are still a substantial number of properties sitting stagnant on the market, and, per the latest report from the Toronto Regional Real Estate Board (TRREB), they are taking progressively longer to sell, if they sell at all.In August, 14,038 new condos, townhouses, semi-detached houses and standalone homes came to market across the GTA (9.4 per cent more than in August 2024), making for a total of an astounding 27,495 active listings — less than the 32,082 ho...
Other