Toronto Residential Realtors. Service Beyond The Status Quo
Inflation is top of mind as the Bank of Canada increased the overnight rate by 125 basis points since the beginning of 2022. Toronto’s May 2022 market cooled with sales volumes declining by 35% year over year and 11% month on month from April 2022. Despite the lower volumes, average prices in May 2022 were…
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Higher interest rates amidst increasing inflation were the drivers behind a drop in Toronto’s April real estate sales. With these macroeconomic factors taking center stage, supply remained relatively tight as listings were down 18%. Sales volumes decreased by 36% compared to last April, while prices increased by 14%. A lot of ink has been spilled about the 36%…
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Continuing the tread that started in autumn, Toronto’s November real estate market sustained both month-on-month as well as year-over-year price increases across all key housing types. This was primarily attributable to tighter market conditions as new listings fell amidst strong demand. At the end of November, there was only 1 month of inventory in Toronto’s condo market and…
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