Toronto Residential Realtors. Service Beyond The Status Quo
Toronto’s real estate market showed continued signs of recovery in November, following slower sales during the first three quarters of the year. Transactions in November were 39% higher compared to November 2023, with detached properties leading the way. Prices for freehold properties increased by approximately 5%, while condominium prices experienced a slight decline. The real…
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Toronto’s October results showed signs of life as transactions were 37% higher than last October’s. Prices were up for freehold properties while condo prices were slightly off from a year ago. Transactions were up as the Bank of Canada lowered the key overnight rate for the 4th consecutive meeting with the most recent decrease of 0.50%…
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Toronto’s September real estate market was slow. Hopes of a strong fall market following a sluggish summer did not transpire as sales came in only 4% higher than a year ago and 5% higher than Aug 2024. Prices were resilient following 3 interest rate reductions since the beginning of the summer. September saw the surge of new…
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Toronto’s August market continued to be sluggish. Sales were down 9% from a year ago. Overall prices dropped – lead by the slumping condo market that has more than 6 months of inventory. New listings were lower than a year ago as many homeowners anticipated another reduction in the September interest rate announcement – which…
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Toronto’s July real estate market was weak. Although transactions were up 2% from last July and average prices were similar, the year-over-year comparison is against a soft July 2023 market. Average prices were down for the second month after seeing monthly increases from January through to May 2024. The July 2024 average price was 8.8%…
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Toronto’s May real estate market was sluggish. While average prices remained stable, sales transactions were 18% lower than a year ago. Buyers had choice last month as new listings were 28% higher than May 2023. While the monthly real estate stats are helpful to understand year over year comparisons, by looking back over a longer…
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Toronto’s April market was stable compared to last year. Condominium apartment sales lead the decline in transactions as the investor market struggles amidst higher interest rates and regulations that hamper landlords. Existing regulations include non-deductibility of expenses for short term rentals, obstacles to ensure vacant possession for sold condos and backlogs at the Landlord and…
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Toronto’s March 2024 transactions were lower despite more listings compared to a year ago. Condo apartment sales saw the biggest drop as investor appetites waned. Prices for detached properties fell as interest rates kept these properties out of reach for most households, while semis saw an increase in price as they’re more affordable freehold options…
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Toronto’s February market was more active than a year ago. Transactions increased on average by 13% with freehold properties leading the way reporting double digit sales growth as condo apartment sales increased by 7%. Prices stayed at similar levels as more listings came on the market. More importantly, momentum from January continued into February as…
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The following is a public service announcement: If you have a property in Toronto, you must complete your 2023 Vacant Home Tax Declaration of Occupancy Status by February 29, 2024. – Let us know if you have questions. Toronto’s January real estate market showed signs of emerging from hibernation. Transactions were 16% higher than December…
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