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 …
Merry Christmas 🎄 from my family to yours! Speed read – TL;DR: ⚡November sales are down 49.4%, new listings are down 11.6%, the average price is down 7.2%, similar numbers for the last 3 months. ⚡BoC increased the interest rate by another 0.5% to 4.25% on Dec. 7. ⚡ Bill 23 is now passed – what you need to know! ⚡ …
Last update Dec 12, 2022 Update: Bill 23 was passed by the Ontario legislature on November 28. More Homes, Built Faster Act was passed by the Ontario legislature on November 28 and was done fairly quickly. This is the Ontario government’s plan to build 1.5M homes in the next 10 years. Many local municipalities are against this provincial act. One …
GTA Market Stats Highlights The October numbers are a continuation of the August and September numbers. The biggest drop has already happened. Even with the rate hike in September and October, the market didn’t stray from the trend we have seen in the past few months. Sales are down 49.1%, and new listings are down 11.6% down year-over-year. That’s the …
Fun facts about me: I was born in Scarborough and moved to Mississauga when I was five years old, lived and grew up around the Streetsville area, and currently I live in the Square One area with my wife Claire and our cat Alba. So I too live, work and play in Mississauga! History of Mississauga Mississauga is Canada’s 7th …
