Steven Maislin's blog

July 2023

Dear Friend,

The hunger and desire for home ownership were evident in June’s sales activity, as 7,481 homes sold on the Toronto Real Estate Board, up 16.5% over June 2022. Despite the uncertainty surrounding the Bank of Canada’s outlook on inflation and interest rates, buyers were out and active, and the average home price increased due to the high demand and low listing inventory of homes available for sale. We seem to be heading for a perfect storm for the housing market, a battery that will continue to drive prices even higher than before. Let’s review the elements of...

June 2023

Dear Friend,

The demand for housing continues to be strong! GTA realtors reported the sale of 9,012 homes in May, up 24% from last May’s 7,226. Sadly, new listings were down by 18.7% over the same period, and as we all know, it’s all about supply and demand. This shortage of homes for sale resulted in multiple offers on well-priced properties, bringing the average sale price in May up to $1,196,101. This scenario is repeated in rental properties where bidding wars on rental units are no longer unusual.

April 2023

Dear Friend

March numbers are in, and the results are stunning to most observers! It seems that GTA buyers have adjusted to the increase in borrowing costs much quicker than imagined and have been out-purchasing! Toronto Real Estate Board members reported the sale of 6,896 homes, 47.5 % more than in February! The Spring market is in full bloom!

February 2023
Dear friend,
No great surprises as the Toronto Real Estate Board unveiled the January sales
numbers.
3,100 homes sold out of 9,299 homes available for sale. Throughout the GTA, houses, on average, sold in 29 days, provided they were priced within 5% of real value. (This
is where a professional agent can help clients by doing realistic CMA and being
honest with their sellers.)
The primary factor impacting the residential real estate market is the Bank of Canada’s

January 2023

Dear Friend,

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:                                             15,334

August 2022

Dear Friend,

Some interesting facts about the real estate market activity in July:

Number of homes for sale:                                             15,334