Is Toronto Now a Buyers' Market?

The CREA has stated that the GTA has had the biggest drop in sales in June, and Toronto has now fully moved from sellers' territory (ratio above 60 per cent) to buyers' territory (ratio under 40 per cent).

Patterns of sellers facing difficulties offloading properties as buyers sat around hoping for prices to come down, may have led the change. Sales-to-listings ratios are also a benchmark that is utilized to determine the territory, which the following can be identified:

• Balanced: 50 per cent (5 homes are sold for every 10 that come on the market)
• Sellers': 60 per cent plus
• Buyers': 40 per cent and below

This is a significant change in Toronto's market. If you take a look at the ratio in March, that stood at 86 per cent.