As we transition from 2023 to 2024, it’s a perfect time to look back at the twists and turns that characterized the real estate market in the past year. Let’s take a closer look at the key events that shaped the real estate landscape in 2023 and provide some insights into what we can expect in the coming year. A …
2023 has ushered in a year of transformation within Toronto’s real estate market. 🔄 High borrowing costs have shifted the pace of the market. Rising Rental Market and Affordability Challenges Despite the changes, one thing remains constant: the demand for housing in Toronto. However, the daunting hurdle of affordability has led many prospective buyers to rethink their options. Notably, there …
Are you keeping a close eye on the Greater Toronto Area (GTA) real estate market? The past few months have seen some intriguing developments, and the October 2023 update is no exception. Sales Decline, Prices Hold Steady In October 2023, the GTA market continued to show signs of softening sales. Compared to last year, there was a 5.8% decrease in …
The GTA market experienced the worst September sales since 2006. Several factors have been influencing the GTA home sales decline. High borrowing costs and inflation, the looming uncertainty over future decisions by the Bank of Canada, and a slowed economic growth have collectively weighed down the sales in September. The GTA market saw a significant dip in September. Sales were …
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 …
