LOOKING AHEAD THIS NOVEMBER – WHAT’S HAPPENING IN THE MARKET?
The Greater Toronto Area (GTA) housing market experienced a decline in sales in November 2023 due to high borrowing costs and uncertain economic conditions. However, the number of listings increased from last year’s supply. The market saw flat selling prices year-over-year, as inflation and elevated borrowing costs impacted affordability. The housing market is sensitive to […]
A TRYING OCTOBER – WHAT’S HAPPENING IN THE MARKET?
The housing market in the GTA faced some challenges in October 2023. The main issue was the lack of affordability, which made it difficult for many potential home buyers to make a purchase. Due to this and the uncertainty, the sales decreased slightly compared to the previous year’s same period. However, the selling prices continued […]
ITEMS TO AVOID STORING IN A GARAGE
Now that the summer has come to an end, you might have more time to focus on your home and give it a fall refresh. The garage is often the place where we store miscellaneous items, but it’s important to be mindful of what we keep in there. If you’re planning to clean out your […]
WHAT TO AVOID BEFORE CLOSING ON A HOME
Buying a home requires a series of steps and procedures that must be carefully followed to ensure a seamless and efficient process. These steps include scheduling an inspection, conducting a final walk-through, booking movers, and preparing for the closing. Yet, beyond these imperative steps, there are also several critical things that every homebuyer should avoid […]
A MORE BALANCED SEPTEMBER: WHAT’S HAPPENING IN THE MARKET?
The GTA housing market faced some challenges in September, as high borrowing costs, inflation, and slower economic growth weighed on home sales. Nonetheless, despite the increase in listings supply, the average selling price remained higher than the previous year. Looking ahead, the short-term and medium-term outlooks for the GTA housing market appear to be somewhat […]
SEARCHING FOR STABILITY IN AUGUST: WHAT’S HAPPENING IN THE MARKET?
In August 2023, there was a decrease in home sales compared to the same period in 2022 due to higher borrowing costs, uncertainty about the economy and Bank of Canada’s decision-making, and a limited supply of listings. However, the average selling price remained relatively stable. On a monthly basis, both sales and average price slightly […]
AN UNCERTAIN JULY: WHAT’S HAPPENING IN THE MARKET?
The GTA saw a surge in home sales, new listings, and home prices in July 2023 compared to the same period last year. The market experienced a more balanced seasonally adjusted basis in July, with sales slowing down while new listings rose. Home sales remained higher than last year, indicating that many households have adapted […]
AN UNSTEADY JUNE: WHAT’S HAPPENING IN THE MARKET?
The Greater Toronto Area saw an increase in home sales and average selling price in June 2023 compared to the previous year. However, sales dipped on a monthly basis due to uncertainty surrounding inflation and interest rates. The lack of available inventory also hindered willing buyers from finding suitable homes. The Toronto Regional Real Estate […]
SHOULD YOU EXPAND YOUR HOME’S FOOTPRINT OR BUILD ANOTHER LEVEL?
If your family is getting bigger and your home feels too small, it’s time to consider making some changes. Adding an extension can be a great solution, but you’ll need to decide if you want to add another floor or expand outward. Consider your needs carefully and take the necessary steps to improve your living […]
MAY’S MAJOR SUPPLY ISSUE: WHAT’S HAPPENING IN THE MARKET?
The GTA housing market continued to improve from a sales standpoint in May 2023. Unfortunately, the supply of homes for sale did not keep up with the demand for ownership housing. Sales as a share of new listings were up considerably compared to a year ago. This is a clear signal that competition between buyers […]