Etobicoke Real Estate Market Update for October 2024
The numbers are in! Here is your Etobicoke Real Estate Market Update for October 2024.
Welcome to November! As we settle into the month, the Etobicoke real estate market continues to keep us on our toes. Buyers are feeling a bit of relief with lower borrowing rates finally easing affordability concerns as many are taking this chance to jump back in. Sellers, meanwhile, are seeing more interest. Price growth remains moderate with plenty of inventory still available.
Here’s a quick snapshot of the Etobicoke Real Estate Market Numbers for October. This will give you a feel for what’s been happening in the market—and where things might be headed next!
Etobicoke Real Estate Market in October
October was a busy month in the Etobicoke Real Estate Market. Overall in the districts of W06, W07 & W08 there were 115 freehold homes sold. The average days on market to sell a home was 20 and the average sales price was $1,617,891. Currently there are 334 freehold homes for sale in these districts which represents 2.90 months of inventory (MOI).
Mimico, New Toronto and Long Branch
Stonegate Queensway Neighbourhood
Edenbridge-Humber Valley, Eringate-Centennial West Deane, Etobicoke West Mall, Islington-City Centre West, Kingsway South, Markland Wood, Princess-Rosethorn
If you are a Buyer
The Etobicoke Real Estate Market is giving you a unique opportunity. With more homes available and borrowing rates finally easing, you have more options and potentially lower monthly costs than you did earlier this year. Jumping in now could mean securing a home before competition tightens in the spring!
If you are a Seller
It’s still a solid time to list, with strong buyer interest and stable prices keeping the market active. Although prices aren’t spiking, steady demand is a positive sign and early 2025 could see even more activity, so there’s potential for a great sale now or in the months ahead.
Whether you’re actively in the market or just keeping an eye on trends, I’m committed to keeping you up to date on what to expect as we close out the year and look ahead to the spring.
There you have it, your Etobicoke Real Estate Market Update for October 2024. If you live in Etobicoke and have been thinking of selling your home, you can benefit from more potential buyers entering the market. As affordability increases, I’m seeing renewed interest in higher-value homes, making it easier to find the right buyer for your property.
If you’re considering buying or selling in Etobicoke, it’s a great time to stay informed and approach the market with patience. With lots of options and lower competition, now could be an ideal moment to explore opportunities for long-term gains in Etobicoke real estate. Feel free to reach out with any questions or if you’d like some guidance along the way!
You must be logged in to post a comment.