November 2022
Dear Friend,
Despite another rate hike from the bank of Canada, activity remained similar to last month, with 4,961 sales taking place and homes available for purchase staying around the 13,000 mark. This shortage of homes kept the average price stable, similar to last month, at $1,089,428 and is 9.9% higher than the end of 2021.
October 2022
Dear Friend,
Despite higher borrowing costs, 5,038 homes sold in September, down from last year’s record levels. Sales took place in all areas with all types of homes throughout the GTA, bringing the average sale price year-to-date to $1,212,963, up 10.7% since the start of the year.
September 2022
Dear Friend,
With 5,627 homes sold
Before you start to celebrate that the recession is over and prices are beginning to rise again, please don’t! August’s data shows that the real estate market is active with sales and purchases. While listings are in short supply, buyers are eager to purchase at today’s market price. An OK-price property sells in approximately three weeks, provided it is priced within 5% of market value.
August 2022
Dear Friend,
Some interesting facts about the real estate market activity in July:
Number of homes for sale:
August 2022
Dear Friend,
Some interesting facts about the real estate market activity in July:
Number of homes for sale:
June 2022,
Dear Friend,
No surprises as the Toronto Real Estate Board released the May sales numbers. 7,283 properties sold, and GTA Realtors listed 18,679 homes for sale. The year-to-date average sale price stands at $1,274,869, up 16.4% since the end of 2021.
May 2022
Dear Friend,
The interest rate increases the Bank of Canada implemented to slow inflation immediately impacted the real estate market.
Yes, it became more expensive to purchase a home. Yes, it eliminated some buyers from being able to qualify for financing, but the most significant impact on the real estate market was psychological.
Almost overnight, it created a fear of the future. What would the impact on the economy be? What would happen to house prices in the GTA?
April 2022
Dear Friend,
The spring market kicked off with10,955 homes sold, the third-best March and second-best first quarter on record. The average price in March was $1,299,894, bringing the year-to-date average to $1,299,591, up 18.6 % over the 2021 year-end average of $1,095,381.
