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What Are Buyers Waiting For?

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Toronto’s June transaction volume was 37% lower than June 2021.  While prices were higher by 7% compared to last year, the month-on-month prices have been slipping.  Part of this is due to seasonality as June prices are typically lower than May but the increase in interest rates (combined with food and energy prices) is making…

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Has Waiting and Seeing Paid Off?

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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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The Sky Has Not Fallen

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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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Unintended Consequences And A New Hope?

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Toronto’s March real estate market was the third strongest ever.  Sales volumes dropped compared to record setting March 2021.  Prices increased by double-digits as Toronto’s sellers still held the balance of power due to limited supply. Last week, the federal government presented the 2022 federal budget where housing affordability was a major consideration. With strong immigration targets and Canadians already…

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March Musings

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Toronto’s February 2022 real estate market experienced fewer sales compared to the all-time record in February 2021.  Meanwhile, prices were the 2nd highest ever for the month of February as competition between buyers remained tight resulting in double digit price growth across all market segments.   Price increases were the result of strong demand despite a backdrop of inflationary…

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You Can’t Buy What’s Not Available

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It’s déjà vu all over again as we begin the year with Toronto’s real estate prices raging hot.  Amidst a backdrop of fewer listings (according to Toronto Real Estate Board Market Watch January 2022 report, GTA saw the lowest level of listings in more than 2 decades), prices shot up 24% compared to January 2021. February is a month of forecasts…

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Investment Condos Fueling Market Growth

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While this update is meant to be real-estate related, on a larger scale, nothing is more important than the freedoms we have as a result of the lives lost and affected from defending their country.  I was at a sporting event yesterday where everything stopped at 11am.  The participants came together and took off their hats.  We…

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Changing Of The Times

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Toronto’s autumn real estate started off with a bang as prices increased across the board.  The freehold sector was especially strong as semi-detached and detached properties increased by 14% and 20% respectively.  Meanwhile condominium apartment prices increased by 9% compared to a year ago.   Sales volumes were down as supply tightened with a 32% drop in new listings. …

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Optimism Abounds

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With summer right around the corner and phase 1 of re-opening, we hope this message finds you well. Toronto’s May results were strong.  The chart below which compares May 2021 to May 2020 are skewed as May 2020 results were mired by the full onset of the pandemic. More instructive is the 2021 month-on-month trends. …

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Less Is More

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If you’ve been keeping up with our recent newsletters, it should come as no surprise that Toronto’s November real estate results continued the trend that started mid-year.  Limited supply of freehold properties and strong demand for more indoor and outdoor space are driving price growth for ground-oriented properties.  The following table shows how sales of freehold properties…

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