Toronto Residential Realtors. Service Beyond The Status Quo
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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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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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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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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Happy Thanksgiving! I hope you are enjoying the fall colours. Toronto’s September real estate results continued the 3-month trend of increasing sales and prices compared to the respective months last year. (You will need to download images to the see the table). The condo market saw a significant increase in new listings as the freehold…
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As outlined in the June, July and August newsletters, supply continues to be low despite strong consumer interest. Toronto’s August 2020 real estate sales were considerably stronger than a year ago as pent up post- lockdown consumer demand and low interest rates resulted in higher sales and prices compared to August 2019. The table below (you will need to download…
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Last month, I reviewed 30 Toronto condos to adjust the maintenance fee per square foot/month in order to make an apples-to-apples comparison. The average came to be $0.64 per sf/mth. This month, we’ll take a closer look of the operating costs and complete the maintenance fee trilogy next month with a closer look at the reserve…
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Condos sales now make up more than half of Toronto’s resale transactions. I believe that there would be even more condos sold if not for monthly maintenance fees which are a detraction for owners of freehold properties who would otherwise happily downsize. One metric buyers use when comparing condos is the monthly maintenance fee per square…
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