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 […]
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 […]
TIPS WHEN DESIGNING YOUR OUTDOOR LIVING SPACE
Summer living means dining al fresco, spending leisurely afternoons outdoors, and winding down by the outdoor fireplace in the evening. Designing your outdoor space, the same way you would create an indoor living area will result in maximum relaxation and enjoyment, creating a space to enjoy your time outside comfortably. Employing the same interior design […]
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 […]
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 Calm July: What’s Happening In The Market?
Market conditions in the Greater Toronto Area (GTA) have been moving towards a more balanced state throughout the summer, and July was no exception. Compared to last year at the same time, buyers have found themselves with more options in the market, leading to a more moderate rate of annual growth. The Toronto Real Estate […]
Features You Can Forgo When Buying A Home
As buyers, it’s important to know what features you absolutely need in your home, and what you’re willing to be flexible about. It is also easy to see that beautiful home with the sparkling pool or the in-home theatre and think that you absolutely need those features, but they can heavily influence the price, and […]
A MORE ACCESSIBLE APRIL: WHAT’S HAPPENING IN THE MARKET?
In April, the Greater Toronto Area (GTA) housing market saw more buyers adjust to the Central Bank’s rate hikes. TRREB’s MLS System reported a total of 8,008 homes sold in April 2022, representing a 41.2 percent decrease year over year, and a 27 percent decrease compared to March 2022. With borrowing costs expecting to increase […]
MARCH CONTINUES THE MOMENTUM: WHAT’S HAPPENING IN THE MARKET?
As we wrap up the first quarter of 2022, the sales and growth trends that we saw in the housing market in January and February remained consistent in March. TRREB’s MLS System reported a total of 10,955 sales in March 2022, a 30% drop compared to March 2021, while home prices continued to grow, with […]
A STABLE BUT FAST-MOVING FEBRUARY: WHAT’S HAPPENING IN THE MARKET?
Sales in February followed the trend January 2022 started – home sales were down compared to sales in February 2021, with 9,097 sales throughout the GTA reported in the TRREB MLS system. Compared to the 10,929 listings in January 2021, this represents a 16.8 percent decrease in the number of sales compared to the same […]