Likely not surprising to most, but the continued upward pressure on interest rates, has continued to take some steam out of the sails of the marketplace. Average selling price in the GTA is down about 16% from 2022 levels, with over 44% less completed sales. The reality of our market however is that these statistics can be quite misleading about what is actually available on the marketplace — often, when times are less-than-ideal, the most desirable properties don’t often come up for sale. We are inevitably looking between less impressive offerings, which my their nature, command lower offering prices… To really understand what is going on out there, you need to look deeper at actual ‘comparable to you’ properties - ones that could be true alternatives for a purchasing decision, and track their sales year to year.