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Veronica Seneviratne
REALTOR®
CENTURY 21 Leading Edge Realty Inc. Brokerage
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My Mission is to deliver extraordinary experiences

As a CENTURY 21® REALTOR®, I am committed to providing the highest quality service possible. My personal knowledge, skill and expertise in the local real estate market is combined with the power of the CENTURY 21 brand - one of the world's most recognized names in real estate.

GTA REALTORS ® Release February Stats

TORONTO, ONTARIO, March 5, 2024 – Greater Toronto Area (GTA) home sales and new listings were up on an annual
and monthly basis in February 2024. Selling prices also edged upward compared to a year earlier. Population growth and
a resilient regional economy continued to support the overall demand for housing. Higher borrowing costs kept home
sales below the February sales record reached in 2021.

“We have recently seen a resurgence in sales activity compared to last year. The market assumption is that the Bank of
Canada has finished hiking rates. Consumers are now anticipating rate cuts in the near future. A growing number of
homebuyers have also come to terms with elevated mortgage rates over the past two years. To minimize higher monthly
payments, some buyers have likely saved up a larger down payment, chosen to purchase a less-expensive home type
and/or looked to a different location in the GTA,” said TRREB President Jennifer Pearce.

REALTORS® reported 5,607 GTA home sales through TRREB’s MLS® System in February 2024 – an increase of 17.9
per cent compared to February 2023. Even after accounting for the leap year effect, sales were up by 12.3 per cent yearover-year. New listings were up by an even greater annual rate than sales in February, pointing to increased choice for
buyers. On a seasonally adjusted month-over-month basis, February sales were lower following two consecutive monthly
increases while new listings were flat. Monthly figures can be somewhat volatile, especially when the market is
approaching a transition point

Home selling prices in February 2024 remained similar to February 2023. The MLS® Home Price Index Composite
benchmark edged up by 0.4 per cent. The average selling price of $1,108,720 increased by a modest 1.1 per cent. On a
seasonally-adjusted monthly basis, both the MLS® HPI Composite and the average selling price edged upward.

“As we move through 2024, an increasing number of buyers will re-enter the market with adjusted housing preferences to
account for higher borrowing costs. In the second half of the year, lower interest rates will further boost demand for
ownership housing. First-time buying activity will also be a contributing factor, as many renters look to trade high monthly
rents for a long-term investment in which they can live and build equity,” said TRREB Chief Market Analyst Jason Mercer.

“Population growth has been at a record pace and with the anticipated lower borrowing costs, the demand for housing –
both ownership and rental – will also increase over the next two years. Unaffordable housing not only has a financial
impact but also a social impact. Recent research conducted for TRREB by CANCEA in our 2024 Market Outlook and
Year in Review report underscores the negative impact of unaffordable housing on peoples’ mental health and life
satisfaction. It’s comforting to see that there has been some real building happening in the GTA and that the provincial
government is rewarding those municipalities that are working to eliminate the red tape and meet those homeownership
needs,” said TRREB CEO John DiMichele.

February Month over Month
February Year over Year

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Your local expert - Buying

If you're buying, I can enhance your search process by helping you uncover what you may not have considered, whether it is schools, lifestyle, or the investment value of the property. Using our property search tools, you will be able to find the home that best meets your needs. Finally, with my knowledge of the market, real estate expertise and negotiating skills, I will help you get the best possible deal and handle all the critical details.

Branded Background

Your local expert - Buying

If you're buying, I can enhance your search process by helping you uncover what you may not have considered, whether it is schools, lifestyle, or the investment value of the property. Using our property search tools, you will be able to find the home that best meets your needs. Finally, with my knowledge of the market, real estate expertise and negotiating skills, I will help you get the best possible deal and handle all the critical details.

Your local expert - Selling

If you're selling, I will help you understand market factors that may influence price, preparation and the promotion of your property so that you can make an informed decision that best benefits your needs.  I will then present you with a customized marketing plan using state-of-the-art technology tools to reach the broadest market, both locally and internationally, for your property so that you can secure the best offer.  With CENTURY 21® as one of the largest global real estate brands and our Realtors' focus on the local market, I am confident that it will position you for success in your property sale.

Contact me with any questions regarding the current real estate market or my services. I look forward to working with you.

Century 21 Home

Your local expert - Selling

If you're selling, I will help you understand market factors that may influence price, preparation and the promotion of your property so that you can make an informed decision that best benefits your needs.  I will then present you with a customized marketing plan using state-of-the-art technology tools to reach the broadest market, both locally and internationally, for your property so that you can secure the best offer.  With CENTURY 21® as one of the largest global real estate brands and our Realtors' focus on the local market, I am confident that it will position you for success in your property sale.

Contact me with any questions regarding the current real estate market or my services. I look forward to working with you.

Century 21 Home

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