Early Hibernation

Toronto’s October real estate market was weak.  Transactions were 3% down from last year at a paltry 1,836 sales. Prices for freehold properties were resilient as they were higher than a year ago by ~7%.  Meanwhile prices for condo apartments dropped by 2%.   Although the price changes from this time last year don’t look dramatically different, October…

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More Choice For Buyers

Toronto’s September real estate market was as sluggish as it was a year ago – recording the same 1,744 sales.  These volumes were 40% less than the 2018-2023 five-year average for September transactions.  Compared to a year ago, prices were higher with freehold properties increasing 7% while condo apartment prices slid by 5%. Looking ahead, the market…

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Cautious Pessimism

September’s real estate results were down from the same month a year ago.  Transactions decreased by 49% from last September as prices slumped in the detached and semi-detached markets. With higher interest rates, (the Bank of Canada increased the prime rate from 2.45% to 5.45% since the beginning of 2022) and the expectation of higher interest rates to…

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