Home sales and average selling prices in the Greater Toronto Area (GTA) remained higher than last year in June 2023. However, seasonally adjusted sales decreased compared to the previous month. The average selling price and the MLS® Home Price Index (HPI) Composite benchmark increased on a month-over-month basis. The demand for housing was strong despite higher borrowing costs, but uncertainty surrounding the Bank of Canada's outlook on inflation and interest rates affected home sales.... [read more]

The Toronto Regional Real Estate Board (TRREB) has reported that the housing market conditions in the Greater Toronto Area (GTA) have become tighter in March 2023. This suggests that the market is becoming more competitive due to an increased demand for homes, which has caused prices to rise. One way this is being reflected is in the percentage of sales relative to listings. This measure suggests that there is more competition among buyers, as a larger proportion of homes listed for sale are... [read more]

Dear Friend, Another strong month of sales as the Toronto Real Estate Board reported the sale of 8,596 homes, at an average price of $1,070,911, up 12.6% over August 2020. The only factor that prevented more sales from taking place was the lack of homes for sale. Only 10,609 homes came on the market in August, 50% less than normal, and of course, without inventory, sales cannot take place. I believe the reason for the low number of homes coming up for sale is the fact that with the Covid... [read more]

December 2020, Dear Friend, Another record month of real estate sales for the GTA and Covid 19 had nothing to do with it! There are 5 major factors that are keeping the real estate market at record levels: Ridiculously low interest rates (1.5%) attracting new buyers into the market who can now qualify to buy. A strong economic recovery for many business sectors. Many Canadians ”cash” rich from not spending on trips etc. as well as getting government... [read more]

March 2020 Dear Friend, A huge month of sales for the GTA area as realtors reported the sale of 7,256 homes, up 45.6% over the 4,982 homes sold in February 2019, with the average price increasing 16.7% to $910,290. While this seems to be good news for homeowners, the reality is its not, unless one has no intentions of purchasing another property, but simply cashing out. For those first time who purchased in the last little while, congratulations! You are in the market, and will keep... [read more]