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 […]
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 […]
FEELING THE PRESSURE IN APRIL: WHAT’S HAPPENING IN THE MARKET?
The GTA housing market continued to intensify in April 2023. On a year-over-year basis, sales lowered slightly compared to April 2022, but new listings were down by more than one-third. Fewer listings relative to sales meant there was more competition between buyers, influencing an improvement in selling prices since the beginning of this year. In […]
AN INTENSE MARCH: WHAT’S HAPPENING IN THE MARKET?
The GTA’s housing market conditions intensified in March 2023. Sales accounted for an increased share of listings compared to March 2022, signifying that competition between buyers is likely on the rise. The average sale price was above the average list price for the first time since May 2022. As we moved through the first quarter, […]
A Steady January: What’s Happening In The Market
As we move into the second month of 2023, the Greater Toronto Area (GTA) housing market in January recorded very similar numbers to that of December 2022. Average selling prices and number of sales remained steady compared to the previous month, however were down significantly compared to January of 2022. TRREB’s MLS System reported 3,100 […]
Sales Shift In September: What’s Happening In The Market?
There were 5,038 home sales for the month of September in the Greater Toronto Area (GTA), representing a decrease of 44.1% year over year. One notable difference in September was that new listings were also down compared to September of 2021, with 11,237 new listings, or a 16.7% fall. The MLS Home Price Index Composite […]
A More Active August: What’s Happening In The Market?
The month of August showed a slight upward trend in the Toronto housing market sales. The Toronto Regional Real Estate Board’s (TRREB) MLS System reported a total of 5,627 sales in August 2022. While this does represent a 34.2% decline in sales year-over-year, the decline was at a lower rate than the last four months, […]
A MORE BALANCED MAY: WHAT’S HAPPENING IN THE MARKET?
In May 2022, the Toronto real estate market saw more buyers responding to the increased cost of borrowing. The expectation of the Central Bank’s rate increase of 50 basis points – and the actual rate hike itself on June 1st – are causing some buyers to pause their home search in the short term as […]
THE BATTLE BETWEEN SUPPLY VS. DEMAND CONTINUES IN NOVEMBER: WHAT’S HAPPENING IN THE MARKET?
New all-time highs and records were set this past month. Home sales reached a new record for the month of November and the average selling price also reached a new all-time high. New listings were down substantially compared to last year across all market segments – further highlighting the apparent supply issue within the GTA. […]