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 […]
Read MoreTag: torontocondos
Please Mind The Gap
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 […]
Read MoreCapital Pains Tax
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 […]
Read MoreSigns Of Life
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 […]
Read MoreStalled for Fall
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 […]
Read MoreDeja 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 […]
Read MoreChange 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 […]
Read MoreThe 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 […]
Read MoreHigh 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 […]
Read MoreLandlords, Take Note
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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