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]

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]