Deja Vu

Toronto’s real estate market had higher sales and prices compared to a year ago.  Sales increased modestly by 3% as the average price rose on the relative strength of detached properties.  Despite a more active July market, there are headwinds on the horizon. As housing prices accelerated in Q2 2023, the Bank of Canada raised…

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Change For Good?

Toronto’s June real estate market was more active than a year ago.  Transactions increased by 17%. Average prices increased for freeholds while prices remained flat for condo apartments. The market cooled from May 2023 to June 2023 with prices dropping by 4% as the June 2023 interest rate increase caught some buyers by surprise coupled…

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Photo by Austin Chan on Unsplash

Cautious Optimism

Toronto’s January real estate market started with a whimper.   Sales transactions were down signifcantly across all housing types as the central bank increased interest rates for the eighth time since the beginning of 2022.  Toronto’s average property price dipped under $1M for the first time since February 2021 as freehold prices declined by over 20% compared to January 2022. Despite the gloom in January,…

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Photo by Bernard Hermant

Knock Knock?… No One’s Here

Toronto’s real estate market continued to slump in December.  Sales volumes fell by 50% compared to Dec 2021 as higher interest rates made affordability more difficult.  New listings were down as many sellers are waiting to see if consumer confidence improves in the spring. On an annual basis, 2022 started off with a bang but sales slowed as…

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The Market Needs Metamucil

Toronto’s November real estate market continued to be sluggish.  Prices dropped across the different market segments as anticipation of a seventh interest rate increase in 2022 came to fruition last week.  Total transactions in Toronto fell by 50% compared to a year ago.  This trend is concerning as highlighted in last month’s newsletter when we showed Toronto’s 2022 second half…

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The Hottest Thing In A Cold Season

Happy Lunar New Year!  Amidst negative double-digit temperatures and despite Wiarton Willie’s forecast for an early spring, the only thing that’s red hot is the real estate market. The year started off with a bang as Toronto’s 2021 real estate transactions were dramatically higher than January 2020 (Please download images to view the table). Total transactions increased by 66% as buyers came out…

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High Rise Opportunities

I hope this message finds you well.  As I pen this, today is November 11th. While Remembrance Day services are smaller than in previous years, this does not minimize the many who sacrificed their lives to protect our country. We honour our veterans and those in active service. The leaves are mostly off the trees…

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Where I See The Market Heading

Since I started the newsletter in 2016, the consistent trend in Toronto real estate statistics has been that condo prices have been steadily increasing while the freehold market has shown more volatility.  The July 2019 Toronto real estate statistics continued this trend.  Condo prices increased with increases (ie. semis) and decreases (ie. detached) in the freehold market having a net overall…

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How Expensive Is Expensive?

Everyone seems to agree that the Toronto housing market is expensive and getting more so each year. This month I will delve into recent history to find out if prices for different types of homes are at all time highs. Toronto’s June real estate market continues a 3-month trend where the number of solds increased…

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