Wrapping Up 2022: What’s Happening In The Market?
As we move into the new year, we’re taking a look back at the Greater Toronto Area (GTA) 2022 home market trends. With a very strong start to the year, home sales trended lower during the second half of 2022 as a response to the Bank of Canada’s aggressive rate hikes. A combination of the […]
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 […]
ONE YEAR SINCE THE INITIAL IMPACT OF COVID-19 IN OUR CITY: WHAT’S HAPPENING IN THE MARKET?
As we reflect back on March 2021, we recognize that we’ve now witnessed record-breaking home sales consistently for the first 3 months of 2021 in the GTA. The driving forces of these staggering numbers are Buyers taking advantage of the favourable borrowing costs and continued improvement in many sectors of the economy. There were 15,652 […]
A RECORD-BREAKING SEPTEMBER: WHAT IS HAPPENING IN THE MARKET?
The Toronto Real Estate Board reported 11,083 sales in September 2020- a record-breaking number of sales for the month of September. This result was up by 42.3 per cent compared to September 2019. The third quarter of 2020 broke new records within the Toronto Real Estate Market, sales through the first nine months of 2020 […]
A COMPELLING APRIL: WHAT’S HAPPENING IN THE MARKET?
As COVID-19 continues its effect on our everyday lives- health, employment, safety and lack of social interaction etc. COVID-19 has also proven to have an effect on the Toronto Real Estate Market as well. Once again, we would like to extend our sincerest thanks and our tremendous gratitude to all of our first responders and […]
MARCH MADNESS: WHAT’S HAPPENING IN THE MARKET? | COVID-19
There’s no doubt that COVID-19 has had an impact on the Toronto Real Estate Market after the city announced its state of emergency in mid-March 2020, but what does this impact look like overall? It is important to remember the following things before reviewing the Toronto Real Estate statistics… The COVID-19 virus is a global […]
A TIGHT JULY: WHAT’S HAPPENING IN THE MARKET?
The Toronto Real Estate Board announced a reported number of 8,595 sales in July 2019. This result demonstrated a significant increase of 24.3 per cent in sales compared to July 2018. Sales were up 5.1 per cent on a month-over-month basis, after the anticipated seasonal adjustment. Tighter Conditions Year-over-year, the number of new listings entered […]
Mortgage Stress Test Rates Drop for The First Time Since 2016
While the Bank of Canada’s mortgage rates in the OSFI Stress Test has proved to live up to its name since implemented back in January 2018. Last Friday, however, the banks finally decided to lower their mortgage rates for the first time in almost 3 years. The central bank’s five-year benchmark qualifying rate has dropped […]
A FAVOURABLE MAY: WHAT’S HAPPENING IN THE MARKET?
The Toronto Real Estate Board announced that Greater Toronto Area reported 9,989 transactions in May 2019. While this result indicates a substantial increase of 18.9 per cent compared to the 15-year low back in May 2018, we still need to consider that the result is still below the average for May sales over the previous […]
FEBRUARY’S CONDITIONS: WHAT’S HAPPENING IN THE MARKET
There were 5,025 home sales reported in the Greater Toronto Area (GTA) this February. The average price across housing types was $780,397. These numbers reflect some of the ongoing issues that have been impacting the market over the last two years… Current conditions On a year-over-year basis, February’s sales activity in the GTA was down. […]