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toronto
The current report by TRREB points out that while short-term borrowing costs increased again in January, negotiated medium-term mortgage rates, like the five-year fixed rate, have started to trend lower. Based on the expectation that this trend will continue, affordability could start to improve as the year progresses.
Insider Insight: More than ever, location is a key factor in Toronto area real estate. The Financial Post recently published data showing that while prices have steadily risen annually over the past 10-15 years, the average price in the GTA came down -21% in 2022, between the peak in March and the end of the year. It’s important to note that this reduction was less pronounced in the City of Toronto (read post for more) …
Happy New Year! 2022 has been an eventful year. As always, the most rewarding experiences are connecting with people at such an important time in their lives, and being able to offer them support and advice. On top of that, I’m grateful that I get to live and work in Toronto. Our city is a welcoming place where culture, innovation and community thrive.
The downward trend in home prices experienced in the spring and early summer has flattened over the past three months, in part due to the persistent lack of inventory … how to the trends and numbers affect you?
I am honoured to be asked to join the Oxley Real Estate Team, a leader in the Toronto Luxury market, and a brokerage known for delivering an exceptional client experience along with market-leading results. Proud of its signature full-service approach, the Oxley team is recognized in the RLP Chairman's Club: Top 1% in Canada.
Evergreen Brick Works is a glorious getaway without going away. It’s home to magical nature trails and activities right in the centre of the city.
Supply is down overall - new listings were at a 20 year low for the month of September. Prices of detached homes and semis in the 416 dropped by 11 per cent and 7.3 per cent respectively.
I enjoy hiking the scenic ravine trail at the far side of David Balfour Park. It feels like a wild and beautiful place, yet it’s right here in the middle of the city.
Michelin stars have been awarded in Canada for the first time, starting in Toronto. I always say we are lucky to have so many restaurants that offer world class dining experiences right here in the city – without ever stepping on a plane.
Toronto Real Estate Market Update for August, 2022: Despite the recent softening of the real estate market due to rising interest rates and tougher mortgage stress tests, there was some renewed vitality last month.
Toronto Real Estate Market Update for July, 2022: Following the Bank of Canada interest rate hike in mid-July (the highest single-day hike we’ve seen in over two decades), sales saw a significant decline. Even though new listings were down by 4 per cent on a year-over-year basis in July, buyers can benefit from the more balanced market and decent inventory at present.
January 2022: Toronto Real Estate Market Update Market Update • January marked the second highest month in history for property sales recorded in the TRREB MLS system at 5,636, although the number was down 18.2% from the January 2021 peak.
Toronto Real Estate Market Update (December 2021 wrap-up): At the end of 2021, properties in the GTA reached an all-time high average selling price of $1,095,475 – an increase of 17.8 per cent compared to the previous 2020 record of $929,636.
A record 121,712 sales were reported through TRREB’s MLS® System in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020.
The big story in September was the continuing lack of supply in the housing market. The month saw the third highest sales number on record, yet sales were down 18% from September 2020, mainly due to the lower number of new listings …
Year-over-year sales growth continues to outpace new listings growth. TRREB is revising the forecasted average selling price upward to $1,070,000 through 2021.
