3rd Consecutive Month of Decline The average home prices in the GTA experienced a decline for the third consecutive month in August 2023. Higher borrowing costs and economic uncertainty were cited as factors contributing to this decline. Prices continued to decline across all segments, the average price dropped 3.2% month over month. Entering a Balance Market Home sales were relatively …
The GTA housing market witnessed its second consecutive month of declining sales and prices in July, marking a significant shift from the hot spring market. The impact of high ownership costs, already straining many potential buyers, was further compounded by the 2 recent BOC interest rate hikes, which sidelined even more buyers and dampened the momentum that had been building …
Speed read – TL;DR: ⚡Average prices have increased by 15% year-to-date! ⚡BoC hikes 25bps again — and there may be more to come. ⚡Strong immigration is causing rental market to go crazier! ⚡Five TRREB districts price comparison – Toronto, Peel, Halton, York & Durham. GTA Market – Strong growth year-to-date We are in the middle of the Spring market and GTA …
Speed read – TL;DR: ⚡GTA Market is Back Into a Strong Seller’s Market! ⚡Canadian Banks are Helping Mortgage Holders Stay in Their Homes. ⚡Low Rise is Hot, How About Condos? ⚡Updates on Immigration, Foreign Buyer Ban and Housing Start The Market Has Been Hot! If you have been following our monthly updates, you know the market has been heating up …
Speed read – TL;DR: ⚡Multiple Offers are Back! Buyer’s Confidence has Returned! ⚡Low-Rise Homes are Competitive, Especially Those in the $800k-1M Price Range. ⚡BoC Expected to Hold Interest Rates on Wednesday, April 12. ⚡ Competition and Prices Will Continue to Climb. ⚡ Why Can’t We Just Build More Homes? Buyer’s confidence has returned while sellers are holding strong. The first …
Speed read – TL;DR: ⚡Year-over-year Average price is down 18% (Keep in mind, we are now comparing to the market peak.) ⚡Month-over-month stats indicates market is rebounding, even after seasonal adjustments! ⚡The GTA now has just 1.5 months of low-rise inventory. Bidding Wars have returned! ⚡Canadian bond yields fell dramatically on March 13th. (After US bank collapse) Hardest fall since …
Speed read – TL;DR: ⚡GTA ➡️ BOC suggested interest rates should stay where they are. ➡️ Buyer confidence has returned combined with low inventory – we are seeing offer dates again… ➡️ We maybe seeing the floor now? ⚡Mississauga ➡️ Overall sales are down almost 50% compared to last year. …
Happy New Year! I am excited to see what 2023 will bring. And to all my friends who celebrate the Lunar New Year, this year is the Year of Rabbit! It is a time for family gathering, eating special foods and treats, counting our blessings from the previous year and of course Red Pockets!! My wife, Claire, and I will be …
The market is heading towards a balanced market and that means there is going to be more negotiating between buyers and sellers and this is the return of conditions! Not the condition of a house, conditions that if aren’t met, you can back out of the deal! In this blog, I’ll go over: how seller’s market affects conditions the difference …
Are you debating whether you should sell in 2023 or if you should wait? It’s a difficult decision. It’s both a financial and a personal one, with many factors to consider. The scary thing is that the average home price in the Greater Toronto Area has dropped almost 20% since the peak in February 2022. It’s easy to have recency …
