Dave Debriefs

From Outhouse to Penthouse

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Toronto’s real estate market finished strong as prices increased by double digits across all segments.  December volumes were down from historic highs of 2020. From an annualized perspective, prices and sales volumes were higher in 2021 lead by the freehold sector where prices grew by double digits.  Sales volumes increased dramatically in the condo sector which saw 6% price growth.  Stop…

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Headwinds and Tailwinds

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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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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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What Do You Mean by Average Price? (Part 2)

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Toronto’s August market was tighter than a year ago.  Continuing the trend we saw in July, we were emerging from the lockdown and sales were picking up.  One year later, sales volumes are lower as Torontonians are squeezing the last of the summer.  New listings declined across all the different types of properties.  As mentioned…

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What Do You Mean By Average Price?

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Toronto’s July 2021 market was tighter than a year ago.  This time last year, we were emerging from the lockdown and sales were picking up.  Fast forward to July 2021 and sales volumes are lower as new listings declined across all the different property types.  Our sense is that sellers are putting off selling their…

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What’s the Deal with Vacant Home Taxes?

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At the midway point of 2021, June’s home sales were up compared to same time year ago as Torontonians adjusted to pandemic life.  June prices stabilized in line with a robust first quarter as year to date sales transactions are almost double over the same period last year. (You will need to download images to see…

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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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Feeling Bullish

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Toronto’s April results continued to be strong in both the condo and freehold markets.  The freehold market saw double-digit price increases compared to last year. Despite these increases, buyers for ground-oriented properties exercised more caution.  The federal government announced a higher stress test hurdle of 5.25% from 4.79% leading to month on month prices to…

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No Letting Up

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As expected, low interest rates and pent up demand resulted in a booming month for Toronto’s real estate market.  The table below outlines double-digit increases in volumes and prices for freehold properties, while condos experienced brisk sales compared to relatively flat prices compared to a year ago. If it feels like there’s been no let…

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