Toronto Residential Realtors. Service Beyond The Status Quo
Toronto’s August real estate market saw a dip in freehold sales and a small uptick in condo sales compared to a year earlier. Average prices for semi-detached increased which bucked the trend (although this segment is a very small part of the Toronto market) in the detached and condo apartment segments. Despite higher levels of…
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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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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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The Toronto market continued to rebound in May. Sales transactions increased for the first time on a monthly basis with 23% more transactions in May 2023 compared to May 2022. Prices are slightly down from a year ago, but month-on-month sales have increased since the beginning of the year. The average price of $1,197,021 in…
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Toronto’s April sales volumes and prices are down from April 2022 which should come as no surprise as 2022 prices were at all-time highs. As mentioned in the last 3 monthly newsletters, the market continues to strengthen as average prices increased for the fifth consecutive month. Buyers who were on the sidelines are coming back…
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Toronto sales picked up in March as transactions were 45% higher February. When compared to 2022, prices in Toronto were down 13% compared to year ago. This is to be expected as prices in Q1 2022 were historic highs. Transactions are also down 37% as buyers adjust to higher interest rates. I mentioned last month…
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Toronto’s real estate market showed signs of life. Transactions were down ~45% from pre-rate hike levels of early 2022 while prices fell ~12% compared to last February. Although these results are down, they followed the cautious optimism I wrote about last month and it feels like we’ve hit the bottom of this downturn in terms…
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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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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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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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