Dave Debriefs

What Do You Mean by Average? (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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Mercury Rising

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As the temperature rises, Toronto’s real estate market is following suit. Toronto’s February 2021 sales transactions increased by 51% compared to same time year ago.  On the pricing side, there was double-digit price growth for detached and semi-detached properties while condo prices on average dipped by 6% over this same period. It’s become common for…

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The Hottest Thing In A Cold Season

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Happy Lunar New Year!  Amidst negative double-digit temperatures and despite Wiarton Willie’s forecast for an early spring, the only thing that’s red hot is the real estate market. The year started off with a bang as Toronto’s 2021 real estate transactions were dramatically higher than January 2020 (Please download images to view the table). Total transactions increased by 66% as buyers came out…

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Riding the Ups and Downs

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Toronto’s real estate market closed out with a record boom! December’s robust results were fuelled by low interest rates and strong demand amidst impending vaccine rollouts. Transactions for all types of properties soared compared to the previous year.  Meanwhile freehold property pricese continued to increase while prices slumped for condominium apartments.  There’s good news for condo owners as…

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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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