Market Update for November 12
Canadians are scrambling to get mortgage pre-approvals and rate holds before the era of low interest rates comes to an end, as some economists predict. Real estate and mortgage brokers say their clients are increasingly seeking ways to hold on to current rates because...
Market Update for November 5th
Prospective homebuyers in the Greater Toronto Area found dramatically fewer homes on the market last month than they did a year ago. October was another record setting month for Toronto and the GTA with the average year-over-year selling price up 19.3% to $1,155,345....
Market Update for October 29th
Investors who own multiple properties within the city, has in recent years overtaken first-time homebuyers as the biggest slice of Toronto’s home-purchasing market, according to a recent report by Teranet. As recently as 2016, Teranet — Ontario’s title search and...
Market Update for October 8th
September marked the transition from the slower summer market to the busier fall market in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September was no different. Sales...
Market Update for October 1st
Canadians are changing provinces at the fastest rate since the 90’s real estate bubble. Canadians haven’t fled their province in such a large volume in over three decades. Interprovincial migration reached 123,500 people in Q2 2021. This is an increase of 55.1% from...
Market Update for September 24th
The Canadian election is over, and the country’s leadership remains largely unchanged. However, a laundry list of election promises mean big changes to real estate are coming. Most of the promised plan seeks to create more demand for housing, which softens price...
Market Update for September 10
The Toronto Regional Real Estate Board (TRREB) is reporting the third-best sales result on record for the month of August. While the market has taken its regular summer breather, i t ’s clear that the demand for ownership housing remains strong. At the same time, the...
Market Update for August 27th
It was once common to only hear of bidding wars happening in traditional housing markets, however, in the lead up to this fall’s anticipated return to offices and post-secondary campuses, bidding wars for rental properties have become the norm in Vancouver and...
Market Update for July 30
Anyone following the latest headlines about Toronto’s housing market, has by now heard that Toronto’s housing market is showing signs of cooling. But these types of headlines can leave many buyers confused about what “cooling” really means. Active buyers who are still...
Market Update for July 23
The average Toronto condo price keeps on climbing, surpassing $720,000 in the second quarter of this year. A new report from the Toronto Regional Real Estate Board found that although condo sales dropped slightly this quarter compared to the last, prices continued to...