Summary of October 2023 Toronto Real Estate Market Report Affordability, uncertainty affected GTA home buyers in Oct 2023; sales lower YoY Selling prices higher than last year Population growth, resilient GTA economy maintained housing demand Demand shifted to rental market due to high borrowing costs, interest rate uncertainty TRREB reported 4,646 GTA home sales in Oct 2023, down 5.8%...
Summary of August 2023 Toronto Real Estate Market Report Higher borrowing costs, economic uncertainty, and Bank of Canada decisions led to fewer home sales in August 2023 compared to August 2022. The average selling price remained virtually unchanged over the same period. Sales and average prices decreased on a seasonally adjusted monthly basis. Solid demand for housing is expected in the...
Previous data from Toronto Real Estate Board (TREB) shows a decline in home sales, the lowest it has been in 15 years. While the housing market as a whole seems stable, Toronto has borne the brunt of low number of sales and home values this April compared to the same period in 2017. The hectic spring season brings in a lot of buyers as the market recovers from the slower winter months. However,...
According to new data from the Royal LePage, luxury condo homes are growing in value compared to detached houses with an average of 10.4% increase in prices over the last four months. The Greater Toronto Area (GTA) has experienced declining homes sales in a season that bring in high volumes. The decline is attributed to government interventions, high mortgage rates, and low sales activity. Sales...
Nick (not his real name) plans to invest in a Toronto condo and so he makes a date with his trusted real estate agent and explains his interests. He intends to buy, hold and sell his condo in 10 months. Obviously, Nick wants to have a minimum risk on his new investment and to make profit on some 10 months or so condo appreciation. The truth is, there’s a problem with his thinking and...
2016 was without a doubt a record breaking year for the Toronto real estate market. With the average condo prices staggering by 15% and the house prices soaring by a monstrous 22%, things were pretty much looking up for the Toronto real estate market. And surprisingly enough they still seem to be looking up up until now despite the many speculations put out about how the prices could go to an all...
2016 was no doubt a record-breaking year for the Toronto real estate market. With the average house prices skyrocketing by a whopping 22% and the average condo prices up by a staggering 15%, it seemed as if nothing could possibly go wrong at all for Toronto. However, much to everyone's dismay, mid 2017 seems to have slumped a bit and there have been numerous articles talking about the slowdown of...
Many Canadians are curious as to how our nation’s hotter than ever real estate market and new mortgage qualifying rules have affected individuals entering the Canadian real estate market for the first time. Is buying a home in Canada’s amped up real estate market an unhealthy financial risk for first time buyers? Are less Canadians able to buy their first homes? Recent research done by...
Toronto is considered to have the largest real-estate market in all of Canada. Ending 2016 with record-high sales figures, according to the Toronto Real Estate Board, only solidifies this claim. This is in stark contrast to Vancouver’s market behavior, which slowed down as the year ended. The Real Estate Board of Greater Vancouver reported a decline in sales versus 2015 at 5.6 percent. The...
The GTA market continued to cool in August the numbers are showing us, but although overall sales were down a fair amount from this time last year, new listings were down only a fraction of that. One needs to keep in mind that the market was unusually hot this time last year after all, so keep a grain of salt handy when examining this year's data. What does all this mean for buyers and sellers?...
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