So much for the fall market recovery...

In August, the Toronto real estate market looked like it was finally tightening up, but as we look at the preliminary September numbers, I have to admit: I spoke too soon. Sales have dropped nearly 30% compared to last year, and inventory is lingering on the market longer than expected. Let's look into the September reality check for the GTA housing market (Toronto, York, Peel, and Durham). We look beyond the surface-level average price of $1 million to answer a crucial question: With the market slowing down, who is actually buying homes right now? Using new data from Teranet, we break down the surprising buyer demographics—including why first-time home buyers now make up 36.5% of non-condo purchases, while move-up buyers are largely staying on the sidelines. Whether you are a first-time buyer looking for an opportunity, or a seller trying to understand your competition, here is exactly what you need to know about this fall market shift. Schedule a 15-minute appointment to chat with me here: https://www.broadviewavenue.ca/appointments ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Subscribe now to keep updated for more information. If you want to chat with us, do the following: 1. Send an email at ken+[email protected]; or 2. Send a direct message on my Instagram account below; or 3. Book an appointment for a 15-minute video chat using the link on our website. If you’re not ready to reach out and just want to follow for more, find us online: YouTube: https://www.youtube.com/kennethyimhomes?sub_confirmation=1 Instagram: https://www.instagram.com/kennethyimhomes TikTok: https://www.tiktok.com/@kennethyimhomes LinkedIn: https://www.linkedin.com/in/kennethyimhomes Facebook: https://www.facebook.com/BroadviewAvenue Web: http://www.broadviewavenue.ca Substack: https://substack.com/@kennethyimhomes ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬